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 is the person called that transfers assets through a will?






2. characteristics of accumulation phase






3. characteristics of cautious investor

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






5. typical IPS elements






6. When calculating a required return - you typically must identify what?






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






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






10. What is core capital?






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






12. characteristics of spontaneous investor

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


13. What is loss aversion?






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






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






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






17. What is measure of wealth?






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






19. What are ways that individuals can avoid probate?






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






21. Describe a methodical investor personality type.






22. What are the different stages of life?






23. characteristics of maintenance phase






24. characteristics of maintenance phase






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






26. four types of investors






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






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






29. Define capital gains taxes.






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






32. What is core capital?






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






34. situational profiling

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


35. How is mortality risk typically hedged?






36. characteristics of cautious investor

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


37. What are the main characteristics of chritable gifts?






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






39. What is human capital?






40. Human capital is sometimes referred to as what?






41. Define tax drag.






42. Living expenses in retirment can be referred to as what?






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






44. benefits of IPS to client






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






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






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






48. Describe a cautious investor personality type.






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






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