Test your basic knowledge |

Private Wealth Management

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. What is the general relationship between tax drag% and tax rate with accrual taxes; and as investment horizon increases and return increases?






2. What are the different global tax regimes and their respective ordinary income tax structure?






3. All costs associated with probate are born by whom?

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4. What are the main characteristics of chritable gifts?






5. characteristics of cautious investor

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6. What are the main characteristics of the accumulation phase of life?






7. Generally - how does portfolio size - liquidity - time horizon - and/or importance of spending affect ability to tolerate risk?






8. What are the disadvantages of public exchange funds for low basis stock?






9. What are the equity holding life risk attributes for an investor?






10. What progressive tax regimes do not have favorable treatment for interest income/dividend income/capital gains?






11. What is mortality risk?






12. When should you use a tax-exempt versus a tax-deferred account?






13. Describe asset segregation in a behavioral finance context.






14. What are the disadvantages of an outright sale of low basis stock?






15. An investor's ability to take risk depends on what?

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16. Describe the equity holding life three stages from the perspective of the stock.






17. Human capital is sometimes referred to as what?






18. All costs associated with probate are born by whom?

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19. What is measure of wealth?






20. What are the different stages of life?






21. Living expenses in retirment can be referred to as what?






22. What are the 3 categories of investors when discussing concentrated positions?






23. What are typical characteristics of active wealth creators?






24. characteristics of individualist investor






25. What are the different retirment risks and how can they be hedged?






26. What progressive tax regimes do not have favorable treatment for interest income/dividend income/capital gains?






27. What are the different methods of relief from double taxation?






28. What are the benefits of an IPS to the adviser?






29. Define tax drag.






30. What are the advantages of the monte carlo approach to portfolio construction?






31. characteristics of distribution phase






32. What are the psychological issues of low basis stock held by an entrepreneur?






33. characteristics of methodical investor






34. An investor's willingness to take risk is determined by what?

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35. Human capital is sometimes referred to as what?






36. What are the psychological issues of low basis stock held by an executive?






37. What are the equity holding life risk attributes for an entrepreneur?






38. What are the benefits of an IPS to the adviser?






39. stages of life






40. What are the two sources of wealth?






41. What are the diversification techniques for low basis stock?






42. Describe an individualistic investor personality type.






43. What are the diffferent types of tax jurisdictions?






44. Equation for total wealth.






45. What is the difference between a deterministic approach and a monte carlo approach to portfolio construction?






46. What are the main characteristics of fixed annuities?

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47. What is core capital?






48. What is typically considered when imposing an exit tax?






49. As wealth increases...






50. What are the advantages of an outright sale of low basis stock?