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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 are the disadvantages of completion portfolios for low basis stock?






2. What are the diffferent types of tax jurisdictions?






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






4. benefits of IPS to manager






5. characteristics of methodical investor






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






7. What is loss aversion?






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






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






10. situational profiling - considerations






11. What are typical characteristics of passive recipients of wealth?






12. characteristics of spontaneous investor

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






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






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






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






17. typical IPS elements






18. benefits of IPS to manager






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






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






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






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






23. stages of life






24. Investor questionnaires help to determine what?






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

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26. What is intestate?






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






28. As wealth increases...






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






30. What is intestate?






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






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






33. Describe asset segregation in a behavioral finance context.






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






35. What is loss aversion?






36. Describe the different types of double taxation conflicts.






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






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






39. situational profiling - considerations






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






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






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






43. What are ways that individuals can avoid probate?






44. What are the different types of trusts?






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






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






47. The client's risk tolerance (mostly willingness) is affected by what personal characteristics?






48. characteristics of maintenance phase






49. stages of life






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