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 obvious, but you will see it re-enforces your understanding as you take the test each time.
1. As wealth increases...






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






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






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






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






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






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






8. characteristics of accumulation phase






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






10. As wealth increases...






11. psychological profiling






12. psychological profiling






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


14. What are the main types of investors?






15. situational profiling - considerations






16. What are the main types of investors?






17. Describe asset segregation in a behavioral finance context.






18. What is measure of wealth?






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






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


21. What are ways that individuals can avoid probate?






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






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






24. What is loss aversion?






25. four types of investors






26. What is human capital?






27. What are the equity holding life risk attributes for an investor?






28. What are the diffferent types of tax jurisdictions?






29. Describe biased expectations in a behavioral finance context.






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






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






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






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






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






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






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






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






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






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






40. Describe the different types of double taxation conflicts.






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






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






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


44. What is measure of wealth?






45. Describe a methodical investor personality type.






46. What are the different types of trusts?






47. What are the main characteristics of variable annuities?


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






49. What are typical characteristics of active wealth creators?






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