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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 to obvious but it re-enforces your understanding as you take the test each time.
1. What should an investor use in mean-variance optimization






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






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






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






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






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






7. What is core capital?






8. What are the main characteristics of variable annuities?






9. What is loss aversion?






10. typical IPS elements






11. What are the main characteristics of fixed annuities?






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






13. What are the equity holding life risk attributes for an entrepreneur?






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






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






16. sources of wealth






17. stages of life






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






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






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






21. What is the difference between a deterministic approach and a monte carlo approach to portfolio construction?






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






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






24. What is mortality risk?






25. What are the different stages of life?






26. Human capital is sometimes referred to as what?






27. What are the main characteristics of fixed annuities?






28. benefits of IPS to manager






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






30. What are the psychological issues of low basis stock held by an entrepreneur?






31. four types of investors






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






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






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






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






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






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






38. What is the difference between a deterministic approach and a monte carlo approach to portfolio construction?






39. situational profiling






40. Define capital gains taxes.






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






42. Describe a spontaneous investor personality type.






43. When calculating a required return - you typically must identify what?






44. Describe an individualistic investor personality type.






45. What are the psychological issues of low basis stock held by an entrepreneur?






46. As age increases..






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






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






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






50. What is loss aversion?