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Private Wealth Management

Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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 four broad categories of investor personality types (BB&K)?






2. Describe a cautious investor personality type.






3. typical IPS elements






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






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






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






7. As wealth increases...






8. template for return objective






9. What are the main characteristics of variable annuities?

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10. characteristics of foundation stage






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






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






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






14. Describe a methodical investor personality type.






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

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






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






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






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






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






21. characteristics of methodical investor






22. sources of wealth






23. What are the two sources of wealth?






24. characteristics of accumulation phase






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






26. Define capital gains taxes.






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






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






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






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






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






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

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33. What are the main characteristics of chritable gifts?






34. situational profiling

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






36. characteristics of methodical investor






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






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






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

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






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






42. Describe an individualistic investor personality type.






43. What are investment objectives and constraints?






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






45. What are the two sources of wealth?






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






47. characteristics of maintenance phase






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






49. What are wealth taxes.






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

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