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 disadvantages of private exchange funds for low basis stock?






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






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






4. What is human capital?






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






6. An investor's ability to take risk depends on what?

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






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






9. template for return objective






10. Describe a spontaneous investor personality type.






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






12. situational profiling

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13. Describe biased expectations in a behavioral finance context.






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






15. characteristics of distribution phase






16. What is human capital?






17. characteristics of methodical investor






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






19. What is loss aversion?






20. As probability of death increases...






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






22. What are the main characteristics of fixed annuities?

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






24. stages of life






25. What are the different types of trusts?






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






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






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






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






30. 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?






31. benefits of IPS to client






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






33. What is mortality risk?






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






35. What are typical characteristics of active wealth creators?






36. Describe an individualistic investor personality type.






37. What is HIFO accounting?






38. What is the most common estate planning tool?






39. What are the diversification techniques for low basis stock?






40. Describe the different types of double taxation conflicts.






41. typical IPS elements






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






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






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






45. Describe a cautious investor personality type.






46. What are the main characteristics of the foundation phase of life?






47. Why would someone want to use a valuation discount?






48. What are wealth taxes.






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






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