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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 a spontaneous investor personality type.






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






3. four types of investors






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






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






6. What are the main characteristics of variable annuities?

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






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






9. characteristics of foundation stage






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






11. What is the most common estate planning tool?






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






13. What is measure of wealth?






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






15. All costs associated with probate are born by whom?

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16. What are the diffferent types of tax jurisdictions?






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






18. stages of life






19. What is core capital?






20. 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?






21. What is HIFO accounting?






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






23. What are the main types of investors?






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






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






26. Equation for total wealth.






27. What is tax alpha?






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






29. What is mortality risk?






30. Describe a cautious investor personality type.






31. situational profiling - considerations






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






33. What are the different types of trusts?






34. situational profiling - considerations






35. characteristics of methodical investor






36. What are the disadvantages of private exchange funds for low basis stock?






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






38. How is mortality risk typically hedged?






39. Describe a methodical investor personality type.






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






41. What is intestate?






42. What are the disadvantages of an outright sale of low basis stock?






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






44. characteristics of distribution phase






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






46. What are the different stages of life?






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

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






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






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