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. Generally - how does portfolio size - liquidity - time horizon - and/or importance of spending affect ability to tolerate risk?






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






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






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






5. psychological profiling






6. What are the 3 categories of investors when discussing concentrated positions?






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






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






9. characteristics of foundation stage






10. 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?






11. What are investment objectives and constraints?






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






13. Define capital gains taxes.






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

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






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






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






18. Equation for total wealth.






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






20. What is the difference b/t a required and desired return objective?

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21. What are the main types of investors?






22. What are ways that individuals can avoid probate?






23. As age increases..






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






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






26. characteristics of individualist investor






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






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






29. sources of wealth






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






31. What is the most common estate planning tool?






32. What are the different methods of relief from double taxation?






33. What are wealth taxes.






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






35. Define tax drag.






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






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






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






39. What are the main characteristics of variable annuities?

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40. characteristics of accumulation phase






41. 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?






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






43. situational profiling

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44. As age increases..






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






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






47. benefits of IPS to client






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






49. What are typical characteristics of active wealth creators?






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