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 main characteristics of fixed annuities?


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






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


4. What are the main characteristics of variable annuities?


5. 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?






6. Describe an individualistic investor personality type.






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


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






9. What is tax alpha?






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






11. As wealth increases...






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






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






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






15. Any amount above core capital is considered what?






16. Investor questionnaires help to determine what?






17. Define capital gains taxes.






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






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






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






21. As wealth increases...






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






23. What is the most common estate planning tool?






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






25. What are the advantages of an outright sale of low basis stock?






26. Define capital gains taxes.






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






28. psychological profiling






29. characteristics of accumulation phase






30. What is core capital?






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






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






33. Equation for total wealth.






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






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






36. template for return objective






37. What are typical characteristics of active wealth creators?






38. What are ways that individuals can avoid probate?






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






40. What is typically considered when imposing an exit tax?






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






42. What is human capital?






43. Human capital is sometimes referred to as what?






44. characteristics of individualist investor






45. What are ways that individuals can avoid probate?






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






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






48. As probability of death increases...






49. What are the main characteristics of chritable gifts?






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