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 equity holding life risk attributes for an investor?






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






3. When should you use a tax-exempt versus a tax-deferred account?






4. What are the two sources of wealth?






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






6. What are the diffferent types of tax jurisdictions?






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






8. characteristics of foundation stage






9. What is intestate?






10. Why do individuals often take steps to avoid probate?






11. stages of life






12. Describe the equity holding life three stages from the perspective of the stock.






13. What are the disadvantages of private exchange funds for low basis stock?






14. characteristics of accumulation phase






15. What happens to both tax drag $ and tax drag % with holding period changes and return changes?






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






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






18. What are the equity holding life risk attributes for an entrepreneur?






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






20. What is core capital?






21. Describe a cautious investor personality type.






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






23. What is measure of wealth?






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






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






26. What is mortality risk?






27. Describe a spontaneous investor personality type.






28. What are ways that individuals can avoid probate?






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






30. What are the different types of trusts?






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






32. What are the main characteristics of the foundation phase of life?






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






34. characteristics of maintenance phase






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






36. characteristics of methodical investor






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






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






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

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






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






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






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






44. Equation for total wealth.






45. What are the different stages of life?






46. characteristics of individualist investor






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






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






49. Investor questionnaires help to determine what?






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