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






2. stages of life






3. As age increases..






4. What are the diffferent types of tax jurisdictions?






5. Describe asset segregation in a behavioral finance context.






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






7. What are the diffferent types of tax jurisdictions?






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






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






10. What are the disadvantages of hedging for low basis stock?






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






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






13. Define tax drag.






14. typical IPS elements






15. All costs associated with probate are born by whom?

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16. Equation for total wealth.






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






18. What are the different stages of life?






19. Describe an individualistic investor personality type.






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






21. characteristics of maintenance phase






22. What is core capital?






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






24. What are the different stages of life?






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






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






27. characteristics of individualist investor






28. What are wealth taxes.






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






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






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






32. benefits of IPS to manager






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






34. What are the main characteristics of fixed annuities?

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35. situational profiling

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36. Define capital gains taxes.






37. As probability of death increases...






38. What are the main characteristics of chritable gifts?






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






40. What are the four broad categories of investor personality types (BB&K)?






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






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






43. four types of investors






44. characteristics of distribution phase






45. characteristics of foundation stage






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






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






48. Describe asset segregation in a behavioral finance context.






49. Describe the different types of double taxation conflicts.






50. Describe a spontaneous investor personality type.