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. All costs associated with probate are born by whom?

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2. characteristics of individualist investor






3. benefits of IPS to client






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






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

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






7. characteristics of accumulation phase






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






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






10. What is tax alpha?






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






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






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






14. Any amount above core capital is considered what?






15. Describe a methodical investor personality type.






16. What are the different retirment risks and how can they be hedged?






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






18. What are the diffferent types of tax jurisdictions?






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






20. Describe asset segregation in a behavioral finance context.






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






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






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






24. benefits of IPS to manager






25. What are ways that individuals can avoid probate?






26. characteristics of maintenance phase






27. characteristics of methodical investor






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






29. As wealth increases...






30. What is tax alpha?






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






32. stages of life






33. As desire to leave an estate increases...






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






35. Define capital gains taxes.






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






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






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






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






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






41. four types of investors






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






43. typical IPS elements






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






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






46. What are the main types of investors?






47. characteristics of methodical investor






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






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






50. Describe the different types of double taxation conflicts.