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. All costs associated with probate are born by whom?

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






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






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






5. What are the diffferent types of tax jurisdictions?






6. What is an equity collar? What is the purpose of the underlying positions






7. psychological profiling






8. characteristics of spontaneous investor

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9. The client's risk tolerance (mostly willingness) is affected by what personal characteristics?






10. What are the main characteristics of variable annuities?

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






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






13. characteristics of distribution phase






14. What are the different stages of life?






15. characteristics of maintenance phase






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






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






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






19. Describe asset segregation in a behavioral finance context.






20. Any amount above core capital is considered what?






21. What are the different stages of life?






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






23. What are the different types of trusts?






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






25. As age increases..






26. characteristics of individualist investor






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






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






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






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






31. What is measure of wealth?






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






33. template for return objective






34. What are the main characteristics of fixed annuities?

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35. four types of investors






36. typical IPS elements






37. Human capital is sometimes referred to as what?






38. What are the steps involved in creating an IPS?

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






40. situational profiling

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41. What is human capital?






42. As wealth increases...






43. stages of life






44. characteristics of cautious investor

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45. Describe a methodical investor personality type.






46. What is mortality risk?






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






48. characteristics of accumulation phase






49. What is loss aversion?






50. Define capital gains taxes.