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. Define capital gains taxes.






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






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






4. What is core capital?






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






6. benefits of IPS to manager






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






8. What risks must be considered when discussing each concentrated investor category?






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






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






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






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

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13. benefits of IPS to manager






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






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






16. typical IPS elements






17. What are investment objectives and constraints?






18. What are the steps involved in creating an IPS?

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19. Describe asset segregation in a behavioral finance context.






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






21. Describe an individualistic investor personality type.






22. As wealth increases...






23. template for return objective






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

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






26. What is the most common estate planning tool?






27. What are typical characteristics of passive recipients of wealth?






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






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

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






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






32. What are wealth taxes.






33. Describe the different types of double taxation conflicts.






34. What are the main types of investors?






35. characteristics of maintenance phase






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






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






38. stages of life






39. How is mortality risk typically hedged?






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

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41. situational profiling

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






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






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






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






46. What are the two sources of wealth?






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






48. What are the main characteristics of chritable gifts?






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






50. Describe an individualistic investor personality type.