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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. typical IPS elements






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






3. Describe a methodical investor personality type.






4. What is measure of wealth?






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






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






7. What is the difference between a deterministic approach and a monte carlo approach to portfolio construction?






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






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






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






11. Describe an individualistic investor personality type.






12. Define tax drag.






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






14. As probability of death increases...






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






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






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






18. What is mortality risk?






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






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






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






22. Describe biased expectations in a behavioral finance context.






23. Any amount above core capital is considered what?






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






25. What is HIFO accounting?






26. What are the different stages of life?






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






28. What are the main types of investors?






29. What are typical characteristics of active wealth creators?






30. Describe a spontaneous investor personality type.






31. characteristics of distribution phase






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






33. psychological profiling






34. stages of life






35. Describe the different types of double taxation conflicts.






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






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






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






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






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






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






42. What is human capital?






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






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






45. How is mortality risk typically hedged?






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






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






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






49. situational profiling






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