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 are the steps involved in creating an IPS?


2. Describe a cautious investor personality type.






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






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






5. How is mortality risk typically hedged?






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






7. What are the two sources of wealth?






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






9. typical IPS elements






10. template for return objective






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


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






13. What are the main characteristics of the maintenance phase of life?






14. Describe a spontaneous investor personality type.






15. characteristics of individualist investor






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


17. What is measure of wealth?






18. What are the main types of investors?






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






20. characteristics of accumulation phase






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






22. Describe a cautious investor personality type.






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






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






25. Investor questionnaires help to determine what?






26. Describe a methodical investor personality type.






27. Describe asset segregation in a behavioral finance context.






28. What are wealth taxes.






29. 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?






30. Generally - how does portfolio size - liquidity - time horizon - and/or importance of spending affect ability to tolerate risk?






31. four types of investors






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






33. What are ways that individuals can avoid probate?






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






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






36. characteristics of individualist investor






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






38. As wealth increases...






39. typical IPS elements






40. What are the disadvantages of an outright sale of low basis stock?






41. stages of life






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






43. What are typical characteristics of active wealth creators?






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






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






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






47. What is an equity collar? What is the purpose of the underlying positions






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


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






50. sources of wealth