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






2. What are the different stages of life?






3. characteristics of cautious investor


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






5. What is intestate?






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






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






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






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






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






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






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






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






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






15. Describe a spontaneous investor personality type.






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






17. characteristics of spontaneous investor


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






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






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






21. situational profiling - considerations






22. What are the two sources of wealth?






23. psychological profiling






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


25. characteristics of accumulation phase






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






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






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






29. What is mortality risk?






30. Describe biased expectations in a behavioral finance context.






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






32. benefits of IPS to manager






33. Equation for total wealth.






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






35. What are the main types of investors?






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






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


38. What is core capital?






39. How does the nature of human capital affect the demand for life insurance?






40. Describe a cautious investor personality type.






41. What are the psychological issues of low basis stock held by an investor?






42. What are the general legal and regulatory considerations for individuals?






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


44. typical IPS elements






45. Describe the different types of double taxation conflicts.






46. Describe an individualistic investor personality type.






47. characteristics of methodical investor






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






49. Who is responsible for gains/losses in a taxable (accrual taxation) account?






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