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. What are the different types of trusts?






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






3. What is mortality risk?






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






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






6. characteristics of spontaneous investor

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






8. What are the main characteristics of variable annuities?

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






10. What are the different stages of life?






11. What is tax alpha?






12. As age increases..






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






15. characteristics of cautious investor

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






17. What is core capital?






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






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






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






22. What are the main types of investors?






23. What are the two sources of wealth?






24. characteristics of individualist investor






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






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






27. sources of wealth






28. Why would an individual try to use generation skipping in estate planning?






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






30. characteristics of distribution phase






31. What are the main characteristics of chritable gifts?






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






33. What are the main types of investors?






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






35. 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?






36. How is mortality risk typically hedged?






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






38. Investor questionnaires help to determine what?






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






40. typical IPS elements






41. As probability of death increases...






42. Describe a cautious investor personality type.






43. Define tax drag.






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






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






46. benefits of IPS to manager






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






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






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






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