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. Describe the different types of double taxation conflicts.






2. Equation for total wealth.






3. characteristics of foundation stage






4. As probability of death increases...






5. What is human capital?






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

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7. What is intestate?






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






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






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

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11. What is the most common estate planning tool?






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






13. template for return objective






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






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






16. Describe a cautious investor personality type.






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






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






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






20. characteristics of maintenance phase






21. situational profiling

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22. What are the main characteristics of chritable gifts?






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






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






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






26. What is tax alpha?






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






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






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






30. What are the different types of trusts?






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

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






33. What are the two sources of wealth?






34. What is an equity collar? What is the purpose of the underlying positions






35. What is loss aversion?






36. As desire to leave an estate increases...






37. What are ways that individuals can avoid probate?






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






39. sources of wealth






40. What is tax alpha?






41. What is an equity collar? What is the purpose of the underlying positions






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






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






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






45. Describe biased expectations in a behavioral finance context.






46. What is HIFO accounting?






47. What is the most common estate planning tool?






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






49. What is core capital?






50. What are the main types of investors?