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Private Wealth Management

Instructions:
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. psychological profiling






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






3. Define capital gains taxes.






4. Equation for total wealth.






5. What is the most common estate planning tool?






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

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7. characteristics of methodical investor






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






9. Define tax drag.






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






11. What are the different stages of life?






12. Describe a cautious investor personality type.






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






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






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

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16. What is core capital?






17. What are wealth taxes.






18. What are the main types of investors?






19. benefits of IPS to client






20. What is tax alpha?






21. Define tax drag.






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






23. Equation for total wealth.






24. How is mortality risk typically hedged?






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






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






27. psychological profiling






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






29. stages of life






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

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






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






33. Investor questionnaires help to determine what?






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






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






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






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






38. What are the benefits of an IPS to the adviser?






39. What are the benefits of an IPS to the client?






40. Any amount above core capital is considered what?






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






42. What is loss aversion?






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






44. characteristics of distribution phase






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






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

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47. Describe asset segregation in a behavioral finance context.






48. characteristics of cautious investor

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






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

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