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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. How is demand for insurance affected by risk tolerance - financial wealth - probability of death - age - and bequest desire?






2. What is the eifference in willingness to take risk between active and passive wealth creators?






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






4. What are the main characteristics of the foundation phase of life?






5. sources of wealth






6. What is measure of wealth?






7. How is mortality risk typically hedged?






8. characteristics of individualist investor






9. What is mortality risk?






10. As desire to leave an estate increases...






11. Define capital gains taxes.






12. Describe an individualistic investor personality type.






13. 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?






14. Describe biased expectations in a behavioral finance context.






15. What is an equity collar? What is the purpose of the underlying positions






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

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17. Describe an individualistic investor personality type.






18. characteristics of accumulation phase






19. What are the diffferent types of tax jurisdictions?






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






21. What is core capital?






22. Define tax drag.






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






24. Describe the different types of double taxation conflicts.






25. characteristics of cautious investor

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26. The client's risk tolerance (mostly willingness) is affected by what personal characteristics?






27. characteristics of methodical investor






28. What are the main characteristics of the distribution phase of life?






29. When calculating a required return - you typically must identify what?






30. What is tax alpha?






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






32. What are the main characteristics of the distribution phase of life?






33. What are the disadvantages of hedging for low basis stock?






34. What are the main characteristics of the maintenance phase of life?






35. Equation for total wealth.






36. What are the problems that financial advisers can face with low basis stock?






37. Describe a methodical investor personality type.






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






39. benefits of IPS to manager






40. characteristics of foundation stage






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






42. What are the advantages of completion portfolios for low basis stock?






43. Equation for total wealth.






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






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






46. What is HIFO accounting?






47. What are the disadvantages of private exchange funds for low basis stock?






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






49. What are the equity holding life risk attributes for an executive?






50. How is demand for insurance affected by risk tolerance - financial wealth - probability of death - age - and bequest desire?