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 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?






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






3. What are the diffferent types of estate ownership rights?

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4. typical IPS elements






5. What are typical characteristics of active wealth creators?






6. situational profiling

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7. typical IPS elements






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






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

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10. What are the disadvantages of an outright sale of low basis stock?






11. Describe a spontaneous investor personality type.






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






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






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






15. Any amount above core capital is considered what?






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






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

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18. characteristics of foundation stage






19. What are the psychological issues of low basis stock held by an executive?






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






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

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22. characteristics of spontaneous investor

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23. characteristics of distribution phase






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






25. What are the main characteristics of fixed annuities?

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26. Equation for total wealth.






27. Describe the different types of double taxation conflicts.






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






29. template for return objective






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






31. template for return objective






32. benefits of IPS to manager






33. Describe a spontaneous investor personality type.






34. characteristics of methodical investor






35. Human capital is sometimes referred to as what?






36. What is core capital?






37. As probability of death increases...






38. What is the most common estate planning tool?






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






40. What are investment objectives and constraints?






41. What is measure of wealth?






42. As wealth increases...






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






44. four types of investors






45. benefits of IPS to client






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






47. How is mortality risk typically hedged?






48. Describe an individualistic investor personality type.






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






50. situational profiling - considerations