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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 foundation phase of life?






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






3. benefits of IPS to client






4. An investor's willingness to take risk is determined by what?


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






6. Describe biased expectations in a behavioral finance context.






7. situational profiling


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






9. What are wealth taxes.






10. What are the diffferent types of tax jurisdictions?






11. What are the diffferent types of estate ownership rights?


12. What is tax alpha?






13. Any amount above core capital is considered what?






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






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






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






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






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






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






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






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






22. 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?






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






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






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






26. As wealth increases...






27. As probability of death increases...






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






29. What are the two sources of wealth?






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






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






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






33. characteristics of distribution phase






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






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






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






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






38. What is an equity collar? What is the purpose of the underlying positions






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






40. What is intestate?






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






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






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






44. characteristics of individualist investor






45. Human capital is sometimes referred to as what?






46. What are the diffferent types of estate ownership rights?


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






48. What are the main characteristics of fixed annuities?


49. What is HIFO accounting?






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