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. As desire to leave an estate increases...






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






3. characteristics of maintenance phase






4. What is intestate?






5. characteristics of distribution phase






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






7. psychological profiling






8. What are the main types of investors?






9. Describe a cautious investor personality type.






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






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






12. As age increases..






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






14. What is the eifference in willingness to take risk between active and passive wealth creators?






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






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






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






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






19. situational profiling






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






21. template for return objective






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






23. As probability of death increases...






24. As wealth increases...






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






26. What are the advantages of the monte carlo approach to portfolio construction?






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






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






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






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






31. Describe biased expectations in a behavioral finance context.






32. Describe a methodical investor personality type.






33. What are the main types of investors?






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






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






36. characteristics of accumulation phase






37. characteristics of distribution phase






38. benefits of IPS to client






39. What are the advantages of the monte carlo approach to portfolio construction?






40. What are investment objectives and constraints?






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






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






43. characteristics of methodical investor






44. benefits of IPS to manager






45. What are investment objectives and constraints?






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






47. As wealth increases...






48. What is the most common estate planning tool?






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






50. situational profiling - considerations