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

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






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






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






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






6. What are the main characteristics of fixed annuities?

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7. characteristics of spontaneous investor

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8. typical IPS elements






9. Define tax drag.






10. Describe biased expectations in a behavioral finance context.






11. What are the main types of investors?






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






13. Any amount above core capital is considered what?






14. What are the diffferent types of tax jurisdictions?






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






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






17. Describe a cautious investor personality type.






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






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






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

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21. As probability of death increases...






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






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






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






25. What are wealth taxes.






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






27. template for return objective






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






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






30. Any amount above core capital is considered what?






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






32. What are the problems that financial advisers can face with low basis stock?






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






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






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






36. situational profiling

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37. sources of wealth






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






39. What is intestate?






40. What are the diffferent types of tax jurisdictions?






41. Describe a spontaneous investor personality type.






42. What are investment objectives and constraints?






43. As probability of death increases...






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






45. What are the different stages of life?






46. four types of investors






47. Investor questionnaires help to determine what?






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






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






50. psychological profiling