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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. As probability of death increases...






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






3. What are ways that individuals can avoid probate?






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






5. What is human capital?






6. Describe a methodical investor personality type.






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






8. What are wealth taxes.






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






10. benefits of IPS to manager






11. typical IPS elements






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






13. What is core capital?






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






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






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






17. Any amount above core capital is considered what?






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






19. What are the advantages of completion portfolios for low basis stock?






20. What are the main characteristics of the maintenance phase of life?






21. Describe an individualistic investor personality type.






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






23. four types of investors






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






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






26. Describe the different types of double taxation conflicts.






27. As age increases..






28. characteristics of spontaneous investor

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






30. sources of wealth






31. benefits of IPS to manager






32. situational profiling

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






34. What are the two sources of wealth?






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






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

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






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






39. Describe asset segregation in a behavioral finance context.






40. characteristics of maintenance phase






41. Describe an individualistic investor personality type.






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






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






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






45. How is mortality risk typically hedged?






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






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






48. As probability of death increases...






49. characteristics of maintenance phase






50. psychological profiling