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. typical IPS elements






2. Human capital is sometimes referred to as what?






3. As age increases..






4. Describe asset segregation in a behavioral finance context.






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






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






7. What is the reinvestment caveat when considering tax loss harvesting?






8. What are the diffferent types of tax jurisdictions?






9. characteristics of methodical investor






10. What is the person called that transfers assets through a will?






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






12. As age increases..






13. Describe a cautious investor personality type.






14. characteristics of spontaneous investor

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15. What are investment objectives and constraints?






16. psychological profiling






17. What is measure of wealth?






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






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

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20. What is mortality risk?






21. What are the different types of trusts?






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






23. What is HIFO accounting?






24. Why would someone want to use a valuation discount?






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






26. benefits of IPS to manager






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






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






29. What are the different methods of relief from double taxation?






30. What are the diffferent types of tax jurisdictions?






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






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






33. characteristics of distribution phase






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






35. How does the nature of human capital affect the demand for life insurance?






36. sources of wealth






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






38. situational profiling - considerations






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






40. What is HIFO accounting?






41. What is measure of wealth?






42. template for return objective






43. psychological profiling






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






45. Any amount above core capital is considered what?






46. characteristics of spontaneous investor

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47. characteristics of maintenance phase






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






49. What is the difference b/t a required and desired return objective?

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