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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. As desire to leave an estate increases...






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






3. What are the advantages of private exchange funds for low basis stock?






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






5. Describe biased expectations in a behavioral finance context.






6. Describe a spontaneous investor personality type.






7. sources of wealth






8. Describe a cautious investor personality type.






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






10. What is the difference b/t a required and desired return objective?

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11. What are typical characteristics of active wealth creators?






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






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






14. What is intestate?






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






16. What are the disadvantages of completion portfolios for low basis stock?






17. In contrast to standard finance (MPT) - behavioral finance assumes individuals do what?






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






19. What are typical characteristics of active wealth creators?






20. characteristics of distribution phase






21. What are the diffferent types of tax jurisdictions?






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






23. Human capital is sometimes referred to as what?






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






25. What is loss aversion?






26. What is loss aversion?






27. benefits of IPS to manager






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






29. characteristics of distribution phase






30. characteristics of methodical investor






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






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






33. situational profiling

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






35. sources of wealth






36. benefits of IPS to client






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

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38. How is mortality risk typically hedged?






39. As age increases..






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






41. As probability of death increases...






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






43. benefits of IPS to manager






44. Equation for total wealth.






45. typical IPS elements






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






47. What is HIFO accounting?






48. What are the advantages of public exchange funds for low basis stock?






49. What are the advantages of private exchange funds for low basis stock?






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