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Private Wealth Management

Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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. Why would someone want to use a valuation discount?






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






3. Describe an individualistic investor personality type.






4. benefits of IPS to client






5. What is tax alpha?






6. Define tax drag.






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






8. What are the disadvantages of private exchange funds for low basis stock?






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






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






11. Describe a cautious investor personality type.






12. What are wealth taxes.






13. What is measure of wealth?






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






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

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






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

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18. Describe a cautious investor personality type.






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






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






21. benefits of IPS to manager






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






23. four types of investors






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






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






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






27. As probability of death increases...






28. What is human capital?






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

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






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

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






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

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34. Describe the different types of double taxation conflicts.






35. What are the main types of investors?






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






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






38. What is the difference between a deterministic approach and a monte carlo approach to portfolio construction?






39. typical IPS elements






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






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

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






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






44. characteristics of maintenance phase






45. What is loss aversion?






46. Investor questionnaires help to determine what?






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






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






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






50. What are the different stages of life?







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