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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 obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Describe a spontaneous investor personality type.






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






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






4. What is measure of wealth?






5. What is HIFO accounting?






6. As probability of death increases...






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






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






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






10. benefits of IPS to manager






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






12. What are the diffferent types of tax jurisdictions?






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






14. Define capital gains taxes.






15. Describe asset segregation in a behavioral finance context.






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






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






18. What is mortality risk?






19. What are the different stages of life?






20. typical IPS elements






21. What is human capital?






22. What is the general relationship between tax drag% and tax rate with accrual taxes; and as investment horizon increases and return increases?






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






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






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






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






27. characteristics of methodical investor






28. template for return objective






29. As age increases..






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






31. What are the advantages of an outright sale of low basis stock?






32. benefits of IPS to client






33. psychological profiling






34. Why would an individual try to use generation skipping in estate planning?






35. sources of wealth






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






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






38. What is the most common estate planning tool?






39. How is mortality risk typically hedged?






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






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






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






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






44. Human capital is sometimes referred to as what?






45. What are the advantages of an outright sale of low basis stock?






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






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






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






49. characteristics of accumulation phase






50. What is core capital?