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 are wealth taxes.






2. benefits of IPS to manager






3. Investor questionnaires help to determine what?






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






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






6. Equation for total wealth.






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






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






9. Human capital is sometimes referred to as what?






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






11. What is measure of wealth?






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






13. What are the two sources of wealth?






14. Investor questionnaires help to determine what?






15. stages of life






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






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






18. situational profiling - considerations






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






20. All costs associated with probate are born by whom?






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






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






23. characteristics of individualist investor






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






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






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






27. 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?






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






29. Describe asset segregation in a behavioral finance context.






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






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






32. Define tax drag.






33. What are the main characteristics of chritable gifts?






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






35. What is HIFO accounting?






36. What are the different types of trusts?






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






38. What are the different types of trusts?






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






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






41. What are the main characteristics of chritable gifts?






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






43. What are typical characteristics of active wealth creators?






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






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






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






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






48. What are the different stages of life?






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






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