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. benefits of IPS to client






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






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






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

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






6. How is demand for insurance affected by risk tolerance - financial wealth - probability of death - age - and bequest desire?






7. characteristics of accumulation phase






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






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






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






11. What is core capital?






12. four types of investors






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






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






15. situational profiling - considerations






16. What is intestate?






17. What is measure of wealth?






18. What is tax alpha?






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






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






21. Human capital is sometimes referred to as what?






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






23. Describe a spontaneous investor personality type.






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






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






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

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






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






29. Any amount above core capital is considered what?






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

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






32. What is the most common estate planning tool?






33. What is loss aversion?






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






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






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






37. characteristics of methodical investor






38. What is the eifference in willingness to take risk between active and passive wealth creators?






39. characteristics of foundation stage






40. What are ways that individuals can avoid probate?






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






42. What are typical characteristics of active wealth creators?






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






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






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






46. benefits of IPS to manager






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






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

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






50. Describe an individualistic investor personality type.