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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 to obvious but it re-enforces your understanding as you take the test each time.
1. What are the 3 categories of investors when discussing concentrated positions?






2. What is measure of wealth?






3. characteristics of spontaneous investor






4. Describe a methodical investor personality type.






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






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






7. benefits of IPS to manager






8. 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?






9. characteristics of accumulation phase






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






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






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






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






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






15. Describe an individualistic investor personality type.






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






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






18. What are investment objectives and constraints?






19. Equation for total wealth.






20. characteristics of distribution phase






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






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






23. characteristics of foundation stage






24. As age increases..






25. Describe asset segregation in a behavioral finance context.






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






27. What are wealth taxes.






28. benefits of IPS to client






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






30. Describe a spontaneous investor personality type.






31. What are wealth taxes.






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






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






34. What is core capital?






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






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






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






38. situational profiling - considerations






39. What are the main types of investors?






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






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






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






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






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






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






46. What are the benefits of an IPS to the client?






47. What is the most common estate planning tool?






48. characteristics of maintenance phase






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






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