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 psychological issues of low basis stock held by an executive?






2. What is tax alpha?






3. What are the different stages of life?






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






5. What are typical characteristics of passive recipients of wealth?






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






7. What is mortality risk?






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






9. Equation for total wealth.






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


11. sources of wealth






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






13. What are the diffferent types of tax jurisdictions?






14. Investor questionnaires help to determine what?






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






16. What is core capital?






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






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






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






20. characteristics of spontaneous investor


21. What is mortality risk?






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






23. What are the different stages of life?






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


25. What are the advantages of hedging for low basis stock?






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






27. characteristics of methodical investor






28. Any amount above core capital is considered what?






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






30. What are typical characteristics of active wealth creators?






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






32. What is core capital?






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






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






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






36. benefits of IPS to manager






37. What are the advantages of hedging for low basis stock?






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






39. What are the advantages of completion portfolios for low basis stock?






40. stages of life






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






42. Describe a methodical investor personality type.






43. situational profiling - considerations






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






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


46. characteristics of maintenance phase






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






48. What is the general relationship b/t a client's perception of wealth and risk willingness?






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






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