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






2. What are the psychological issues of low basis stock held by an investor?






3. characteristics of methodical investor






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






5. characteristics of foundation stage






6. What is mortality risk?






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






8. As probability of death increases...






9. What are the different types of trusts?






10. stages of life






11. four types of investors






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






13. What is human capital?






14. How does the nature of human capital affect the demand for life insurance?






15. What are the disadvantages of private exchange funds for low basis stock?






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

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17. typical IPS elements






18. characteristics of individualist investor






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






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






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






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






23. As probability of death increases...






24. benefits of IPS to client






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






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






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






28. What are the two sources of wealth?






29. 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?






30. characteristics of spontaneous investor

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31. benefits of IPS to client






32. What are the different stages of life?






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






34. Equation for total wealth.






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






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






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






39. characteristics of accumulation phase






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






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






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






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






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






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






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






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






48. Define capital gains taxes.






49. characteristics of individualist investor






50. When should you use a tax-exempt versus a tax-deferred account?