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






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






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






4. characteristics of maintenance phase






5. situational profiling

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






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






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






9. What should an investor use in mean-variance optimization






10. As wealth increases...






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






12. characteristics of cautious investor

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






14. 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?






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






16. characteristics of individualist investor






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






18. Describe a cautious investor personality type.






19. Describe a cautious investor personality type.






20. What are the advantages of an outright sale of low basis stock?






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

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22. What are ways that individuals can avoid probate?






23. Describe biased expectations in a behavioral finance context.






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






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

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26. characteristics of maintenance phase






27. Define capital gains taxes.






28. What are the main characteristics of variable annuities?

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






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






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






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






33. four types of investors






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






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






36. benefits of IPS to client






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






38. Describe biased expectations in a behavioral finance context.






39. What are the different types of trusts?






40. characteristics of spontaneous investor

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41. When dealing with low basis stock - emotional issues can arise from what?






42. What is human capital?






43. What should an investor use in mean-variance optimization






44. psychological profiling






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






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






47. Human capital is sometimes referred to as what?






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






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






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