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 main types of investors?






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






3. What are the two sources of wealth?






4. Describe an individualistic investor personality type.






5. What are wealth taxes.






6. What are the main characteristics of fixed annuities?


7. What are the benefits of an IPS to the adviser?






8. situational profiling - considerations






9. typical IPS elements






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






11. sources of wealth






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






13. benefits of IPS to manager






14. What are the diversification techniques for low basis stock?






15. four types of investors






16. What is intestate?






17. Describe an individualistic investor personality type.






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






19. characteristics of spontaneous investor


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






21. benefits of IPS to client






22. Describe the different types of double taxation conflicts.






23. characteristics of accumulation phase






24. characteristics of methodical investor






25. What are ways that individuals can avoid probate?






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






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






28. characteristics of foundation stage






29. Define capital gains taxes.






30. characteristics of maintenance phase






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






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






33. What are the different types of trusts?






34. characteristics of cautious investor


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






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


37. four types of investors






38. What are investment objectives and constraints?






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






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






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






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






43. What are the two sources of wealth?






44. What is core capital?






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


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


47. Describe a methodical investor personality type.






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






49. template for return objective






50. What is tax alpha?