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. Generally - how does portfolio size - liquidity - time horizon - and/or importance of spending affect ability to tolerate risk?






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






3. characteristics of methodical investor






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






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






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






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






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






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






10. What is core capital?






11. What is human capital?






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






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






14. What is tax alpha?






15. What are the main characteristics of variable annuities?

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






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






18. Describe biased expectations in a behavioral finance context.






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






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






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






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






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






24. situational profiling

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






26. Describe an individualistic investor personality type.






27. What is intestate?






28. characteristics of accumulation phase






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

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30. Describe biased expectations in a behavioral finance context.






31. What is HIFO accounting?






32. Describe asset segregation in a behavioral finance context.






33. typical IPS elements






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

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35. What are investment objectives and constraints?






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






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






38. What are the different stages of life?






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






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






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






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






43. Describe a methodical investor personality type.






44. What is core capital?






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






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






47. situational profiling - considerations






48. characteristics of accumulation phase






49. Define capital gains taxes.






50. What is typically considered when imposing an exit tax?