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. psychological profiling






2. stages of life






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






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






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






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






7. What are ways that individuals can avoid probate?






8. What is intestate?






9. Any amount above core capital is considered what?






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






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






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

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13. Describe a methodical investor personality type.






14. What are typical characteristics of active wealth creators?






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






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






17. What is human capital?






18. characteristics of spontaneous investor

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






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






21. characteristics of methodical investor






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






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

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






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






26. What is mortality risk?






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






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






29. Describe a spontaneous investor personality type.






30. As wealth increases...






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






32. characteristics of distribution phase






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






34. What is core capital?






35. Human capital is sometimes referred to as what?






36. What are the two sources of wealth?






37. What are the main characteristics of the foundation phase of life?






38. characteristics of distribution phase






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






40. Describe biased expectations in a behavioral finance context.






41. What are wealth taxes.






42. What are the different types of trusts?






43. What are the main characteristics of fixed annuities?

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






45. What is the most common estate planning tool?






46. As age increases..






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






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






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






50. Equation for total wealth.