Test your basic knowledge |

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 typical characteristics of passive recipients of wealth?






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






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






4. characteristics of spontaneous investor

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5. What are the psychological issues of low basis stock held by an investor?






6. What is measure of wealth?






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






8. What are wealth taxes.






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






10. What is measure of wealth?






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






12. Define tax drag.






13. Any amount above core capital is considered what?






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






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






16. characteristics of individualist investor






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






18. An investor's ability to take risk depends on what?

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19. What are the advantages of public exchange funds for low basis stock?






20. What are investment objectives and constraints?






21. What are the advantages of hedging for low basis stock?






22. Describe asset segregation in a behavioral finance context.






23. 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?






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






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






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






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






28. As wealth increases...






29. characteristics of maintenance phase






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






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






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






33. What is mortality risk?






34. situational profiling

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






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






37. What are the main characteristics of chritable gifts?






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






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

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






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






42. Describe a cautious investor personality type.






43. characteristics of maintenance phase






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






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






46. Equation for total wealth.






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






48. characteristics of distribution phase






49. situational profiling - considerations






50. characteristics of accumulation phase