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. characteristics of cautious investor


2. What are the 3 categories of investors when discussing concentrated positions?






3. situational profiling


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






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






6. Describe asset segregation in a behavioral finance context.






7. Describe an individualistic investor personality type.






8. What is core capital?






9. Define capital gains taxes.






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






11. As wealth increases...






12. What is the person called that transfers assets through a will?






13. Describe a spontaneous investor personality type.






14. What are the main characteristics of fixed annuities?


15. What is human capital?






16. What are the 3 categories of investors when discussing concentrated positions?






17. Who is responsible for gains/losses in a taxable (accrual taxation) account?






18. What is measure of wealth?






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






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






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


22. Human capital is sometimes referred to as what?






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






24. When dealing with low basis stock - emotional issues can arise from what?






25. What are the main characteristics of chritable gifts?






26. What are the different stages of life?






27. characteristics of maintenance phase






28. characteristics of accumulation phase






29. characteristics of distribution phase






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


31. characteristics of individualist investor






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






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






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






35. What are the main characteristics of variable annuities?


36. template for return objective






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






38. As probability of death increases...






39. What are typical characteristics of active wealth creators?






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






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






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






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






44. As wealth increases...






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






46. What are the different types of trusts?






47. What is mortality risk?






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






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






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