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






2. Why would an individual try to use generation skipping in estate planning?






3. What is HIFO accounting?






4. What are the two sources of wealth?






5. What are the advantages of hedging for low basis stock?






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






7. characteristics of methodical investor






8. benefits of IPS to manager






9. What is tax alpha?






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

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






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






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






14. What are the main characteristics of variable annuities?

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

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16. As desire to leave an estate increases...






17. What are the main characteristics of fixed annuities?

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18. What are the four broad categories of investor personality types (BB&K)?






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






20. psychological profiling






21. What are the main types of investors?






22. If human capital is equity-like/fixed-income like - how should you generally allocate financial assets?






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






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






25. What are the main characteristics of chritable gifts?






26. template for return objective






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






28. What are investment objectives and constraints?






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






30. What is loss aversion?






31. situational profiling

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






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






34. characteristics of maintenance phase






35. characteristics of distribution phase






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

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






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






39. As probability of death increases...






40. Describe biased expectations in a behavioral finance context.






41. Describe the different types of double taxation conflicts.






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






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






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






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






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






47. 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?






48. How is mortality risk typically hedged?






49. Human capital is sometimes referred to as what?






50. typical IPS elements