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 the main characteristics of the accumulation phase of life?






2. What is tax alpha?






3. benefits of IPS to manager






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






5. What is typically considered when imposing an exit tax?






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






7. Equation for total wealth.






8. characteristics of accumulation phase






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






10. Calculating the required return component is driven by what 2 elements?






11. What are the main characteristics of the accumulation phase of life?






12. characteristics of foundation stage






13. What are the different types of trusts?






14. Any amount above core capital is considered what?






15. What is human capital?






16. Investor questionnaires help to determine what?






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






18. What are the different types of trusts?






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






20. characteristics of methodical investor






21. What are the main characteristics of fixed annuities?


22. Define capital gains taxes.






23. characteristics of cautious investor


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






25. Describe a methodical investor personality type.






26. sources of wealth






27. What are the main characteristics of chritable gifts?






28. sources of wealth






29. Describe a cautious investor personality type.






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






31. What are the psychological issues of low basis stock held by an entrepreneur?






32. Describe biased expectations in a behavioral finance context.






33. What are the advantages of the monte carlo approach to portfolio construction?






34. characteristics of foundation stage






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






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






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






38. How is mortality risk typically hedged?






39. What are ways that individuals can avoid probate?






40. Define capital gains taxes.






41. Equation for total wealth.






42. Describe an individualistic investor personality type.






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






44. What is intestate?






45. characteristics of cautious investor


46. What is HIFO accounting?






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






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






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






50. As age increases..