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. characteristics of foundation stage






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






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






4. typical IPS elements






5. stages of life






6. What is intestate?






7. Any amount above core capital is considered what?






8. How is mortality risk typically hedged?






9. As wealth increases...






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






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






12. What are typical characteristics of active wealth creators?






13. What are the main characteristics of fixed annuities?

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






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






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






17. What are the main characteristics of variable annuities?

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






19. What is intestate?






20. characteristics of spontaneous investor

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21. characteristics of individualist investor






22. What is mortality risk?






23. What is HIFO accounting?






24. Human capital is sometimes referred to as what?






25. sources of wealth






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






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






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






29. psychological profiling






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






31. typical IPS elements






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






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






34. What are the different stages of life?






35. What is the reinvestment caveat when considering tax loss harvesting?






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






37. As age increases..






38. Define capital gains taxes.






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






40. What are the main types of investors?






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






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






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






44. characteristics of individualist investor






45. What is the general relationship between tax drag% and tax rate when capital gains taxes are deferred and B=1; and as investment horizon increases and return increases?






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

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47. sources of wealth






48. What is core capital?






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






50. What are the different methods of relief from double taxation?