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 to obvious but it re-enforces your understanding as you take the test each time.
1. What is typically considered when imposing an exit tax?






2. psychological profiling






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






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






5. What are the disadvantages of an outright sale of low basis stock?






6. What are wealth taxes.






7. What risks must be considered when discussing each concentrated investor category?






8. What are the different types of trusts?






9. What is intestate?






10. characteristics of cautious investor






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






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






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






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






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






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






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






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






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






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






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






22. As wealth increases...






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






24. Describe asset segregation in a behavioral finance context.






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






26. characteristics of maintenance phase






27. As probability of death increases...






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






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






30. What are typical characteristics of active wealth creators?






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






32. What is the most common estate planning tool?






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






34. Any amount above core capital is considered what?






35. Describe a cautious investor personality type.






36. What are ways that individuals can avoid probate?






37. What is mortality risk?






38. What risks must be considered when discussing each concentrated investor category?






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






40. What are wealth taxes.






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






42. What are the main characteristics of chritable gifts?






43. What are typical characteristics of active wealth creators?






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






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






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






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






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






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






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