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






2. As probability of death increases...






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






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






5. What is core capital?






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






7. characteristics of maintenance phase






8. situational profiling - considerations






9. Describe an individualistic investor personality type.






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

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






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






13. stages of life






14. Describe an individualistic investor personality type.






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






16. What is tax alpha?






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






18. situational profiling

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






20. typical IPS elements






21. benefits of IPS to manager






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






23. As wealth increases...






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






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

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






27. Investor questionnaires help to determine what?






28. characteristics of spontaneous investor

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29. psychological profiling






30. What are the disadvantages of hedging for low basis stock?






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






32. characteristics of individualist investor






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






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






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






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






37. What are the main characteristics of variable annuities?

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






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

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40. What are the different types of trusts?






41. How is mortality risk typically hedged?






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






43. How does the nature of human capital affect the demand for life insurance?






44. Describe a methodical investor personality type.






45. What are typical characteristics of active wealth creators?






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






47. Human capital is sometimes referred to as what?






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






49. What are ways that individuals can avoid probate?






50. characteristics of spontaneous investor

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