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 should an investor use in mean-variance optimization






2. typical IPS elements






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






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






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






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






7. stages of life






8. Define capital gains taxes.






9. What are the main characteristics of fixed annuities?


10. Human capital is sometimes referred to as what?






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






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






13. What is human capital?






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






15. What are typical characteristics of active wealth creators?






16. When should you use a tax-exempt versus a tax-deferred account?






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






18. What are investment objectives and constraints?






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






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


21. What is intestate?






22. characteristics of distribution phase






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


24. characteristics of methodical investor






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






26. What are the main characteristics of variable annuities?


27. What is core capital?






28. As probability of death increases...






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






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


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






32. benefits of IPS to client






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






34. characteristics of cautious investor


35. What is loss aversion?






36. As probability of death increases...






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






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






39. How is mortality risk typically hedged?






40. Human capital is sometimes referred to as what?






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






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






43. characteristics of maintenance phase






44. characteristics of accumulation phase






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






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






47. What are investment objectives and constraints?






48. psychological profiling






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






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