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 different methods of relief from double taxation?






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






3. Describe a spontaneous investor personality type.






4. What are the two sources of wealth?






5. Describe a cautious investor personality type.






6. As probability of death increases...






7. What are investment objectives and constraints?






8. characteristics of spontaneous investor


9. What is loss aversion?






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






11. What are the main characteristics of variable annuities?


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






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






14. Describe an individualistic investor personality type.






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






16. characteristics of individualist investor






17. When calculating a required return - you typically must identify what?






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






19. What are the main characteristics of fixed annuities?


20. What are the main characteristics of chritable gifts?






21. stages of life






22. Equation for total wealth.






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






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






25. What are the different types of trusts?






26. sources of wealth






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






28. typical IPS elements






29. sources of wealth






30. Describe biased expectations in a behavioral finance context.






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






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






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






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






35. typical IPS elements






36. How is mortality risk typically hedged?






37. What are the steps involved in creating an IPS?


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






39. psychological profiling






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






41. situational profiling


42. What are the two sources of wealth?






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






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






45. How is mortality risk typically hedged?






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






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






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






49. characteristics of methodical investor






50. What are the diffferent types of tax jurisdictions?