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Private Wealth Management

Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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 is another name for a variable prepaid forward and What is its main purpose?






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






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

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4. What is HIFO accounting?






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






6. As age increases..






7. What is the most common estate planning tool?






8. What are the different types of trusts?






9. Describe a methodical investor personality type.






10. characteristics of methodical investor






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






12. psychological profiling






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






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






15. characteristics of cautious investor

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






17. characteristics of distribution phase






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






19. characteristics of cautious investor

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






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






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






23. What are the two sources of wealth?






24. What are the disadvantages of completion portfolios for low basis stock?






25. benefits of IPS to client






26. What are the main characteristics of the distribution phase of life?






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






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






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






30. As probability of death increases...






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






32. What is loss aversion?






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






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






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






36. What are wealth taxes.






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






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






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






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






41. What are the main characteristics of chritable gifts?






42. Equation for total wealth.






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






44. sources of wealth






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






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






47. What are the two sources of wealth?






48. What is mortality risk?






49. characteristics of individualist investor






50. What is human capital?







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