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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 person called that transfers assets through a will?






2. What are investment objectives and constraints?






3. Define capital gains taxes.






4. What are the four broad categories of investor personality types (BB&K)?






5. What is the person called that transfers assets through a will?






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






7. Calculating the required return component is driven by what 2 elements?






8. Describe an individualistic investor personality type.






9. What is the general relationship between tax drag% and tax rate when capital gains taxes are deferred and B=1; and as investment horizon increases and return increases?






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






11. What are the advantages of hedging for low basis stock?






12. What is the general relationship between tax drag% and tax rate with accrual taxes; and as investment horizon increases and return increases?






13. characteristics of spontaneous investor

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14. Why do individuals often take steps to avoid probate?






15. benefits of IPS to client






16. Investor questionnaires help to determine what?






17. What are wealth taxes.






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






19. What is the reinvestment caveat when considering tax loss harvesting?






20. What is the general relationship b/t a client's perception of wealth and risk willingness?






21. What is the general relationship b/t a client's perception of wealth and risk willingness?






22. What should an investor use in mean-variance optimization






23. What is the general relationship between tax drag% and tax rate with accrual taxes; and as investment horizon increases and return increases?






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






25. Why would someone want to use a valuation discount?






26. Define capital gains taxes.






27. What are the diffferent types of estate ownership rights?

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28. What is loss aversion?






29. If human capital is equity-like/fixed-income like - how should you generally allocate financial assets?






30. What is mortality risk?






31. Why would an individual try to use generation skipping in estate planning?






32. Any amount above core capital is considered what?






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






34. Describe the different types of double taxation conflicts.






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






36. situational profiling

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37. What happens to both tax drag $ and tax drag % with holding period changes and return changes?






38. template for return objective






39. situational profiling - considerations






40. Define tax drag.






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






42. What is the general relationship between tax drag% and tax rate when capital gains taxes are deferred and B=1; and as investment horizon increases and return increases?






43. When dealing with low basis stock - emotional issues can arise from what?






44. What is loss aversion?






45. What is another name for a variable prepaid forward and What is its main purpose?






46. Describe a cautious investor personality type.






47. What are the two sources of wealth?






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






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

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50. What are the main characteristics of variable annuities?

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