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. Define capital gains taxes.






2. characteristics of spontaneous investor






3. What is measure of wealth?






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






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






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






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






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






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






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






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






12. stages of life






13. characteristics of methodical investor






14. What are the different stages of life?






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






16. What is mortality risk?






17. psychological profiling






18. What is HIFO accounting?






19. Describe asset segregation in a behavioral finance context.






20. characteristics of distribution phase






21. As wealth increases...






22. characteristics of cautious investor






23. What happens to both tax drag $ and tax drag % with holding period changes and return changes?






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






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






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






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






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






29. What happens to both tax drag $ and tax drag % with holding period changes and return changes?






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






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






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






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






34. What is human capital?






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






36. Investor questionnaires help to determine what?






37. situational profiling






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






39. characteristics of spontaneous investor






40. What is the most common estate planning tool?






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






42. benefits of IPS to client






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






44. What are ways that individuals can avoid probate?






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






46. characteristics of maintenance phase






47. What are investment objectives and constraints?






48. How is mortality risk typically hedged?






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






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