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Private Wealth Management

Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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 main characteristics of chritable gifts?






2. What is the general relationship between tax drag% and tax rate when capital gains taxes are deferred and B=1; and as investment horizon increases and return increases?






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






4. benefits of IPS to manager






5. characteristics of cautious investor

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6. What are the different stages of life?






7. As age increases..






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






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






10. Describe the different types of double taxation conflicts.






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






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






13. benefits of IPS to client






14. What is loss aversion?






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






16. Describe biased expectations in a behavioral finance context.






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






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






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






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






21. What are the diffferent types of tax jurisdictions?






22. psychological profiling






23. What are the main characteristics of the distribution phase of life?






24. characteristics of maintenance phase






25. What is intestate?






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






27. Human capital is sometimes referred to as what?






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






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






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






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






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






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






34. Describe asset segregation in a behavioral finance context.






35. What are the main characteristics of fixed annuities?

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36. Describe an individualistic investor personality type.






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






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






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






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






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






42. stages of life






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






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






45. characteristics of individualist investor






46. What are the different types of trusts?






47. characteristics of distribution phase






48. template for return objective






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






50. What is mortality risk?







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