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






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






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






4. characteristics of cautious investor

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5. Equation for total wealth.






6. sources of wealth






7. What happens to both tax drag $ and tax drag % with holding period changes and return changes?






8. What is mortality risk?






9. characteristics of distribution phase






10. What are the main types of investors?






11. How is mortality risk typically hedged?






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






13. In contrast to standard finance (MPT) - behavioral finance assumes individuals do what?






14. characteristics of methodical investor






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






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






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






18. What is human capital?






19. Describe a cautious investor personality type.






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






21. What are the diffferent types of tax jurisdictions?






22. typical IPS elements






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






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






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

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26. What are the steps involved in creating an IPS?

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






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






29. What are the different types of trusts?






30. sources of wealth






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






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






33. four types of investors






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






35. What is HIFO accounting?






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






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






38. template for return objective






39. stages of life






40. Define capital gains taxes.






41. What are wealth taxes.






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






43. benefits of IPS to client






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






45. Human capital is sometimes referred to as what?






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






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






48. What is core capital?






49. four types of investors






50. What is tax alpha?