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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 desire to leave an estate increases...






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






3. Human capital is sometimes referred to as what?






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






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






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






7. What are the main characteristics of the accumulation phase of life?






8. An investor's willingness to take risk is determined by what?

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9. What are the different stages of life?






10. Investor questionnaires help to determine what?






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

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

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






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






15. characteristics of accumulation phase






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






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






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






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






20. What are the diversification techniques for low basis stock?






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






22. characteristics of spontaneous investor

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23. What is mortality risk?






24. What are the two sources of wealth?






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






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






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






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






29. Describe the different types of double taxation conflicts.






30. What is tax alpha?






31. What is measure of wealth?






32. typical IPS elements






33. What are typical characteristics of active wealth creators?






34. Define capital gains taxes.






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






36. What are the main characteristics of fixed annuities?

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






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






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






40. As probability of death increases...






41. characteristics of foundation stage






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






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






44. Investor questionnaires help to determine what?






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






46. What is core capital?






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






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






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






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







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