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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. Describe the different types of double taxation conflicts.






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






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






4. What are the diffferent types of tax jurisdictions?






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






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






7. stages of life






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






9. Describe a methodical investor personality type.






10. What is the most common estate planning tool?






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






12. What are the main characteristics of fixed annuities?

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






14. As probability of death increases...






15. What risks must be considered when discussing each concentrated investor category?






16. stages of life






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






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






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






20. What are the benefits of an IPS to the adviser?






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






22. An investor's willingness to take risk is determined by what?

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23. template for return objective






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






25. As probability of death increases...






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






27. characteristics of spontaneous investor

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28. What is human capital?






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






30. What is the difference between a deterministic approach and a monte carlo approach to portfolio construction?






31. What are the main characteristics of chritable gifts?






32. characteristics of accumulation phase






33. What are the main characteristics of chritable gifts?






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






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






36. characteristics of maintenance phase






37. benefits of IPS to client






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






39. characteristics of spontaneous investor

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40. benefits of IPS to manager






41. What are investment objectives and constraints?






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






43. What are wealth taxes.






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






45. Describe the different types of double taxation conflicts.






46. characteristics of methodical investor






47. four types of investors






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






49. What is intestate?






50. What should an investor use in mean-variance optimization