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. characteristics of maintenance phase






2. four types of investors






3. psychological profiling






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






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






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






7. Describe a spontaneous investor personality type.






8. Define tax drag.






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






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






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






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






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






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






15. What are investment objectives and constraints?






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






17. characteristics of accumulation phase






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


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






20. Describe a cautious investor personality type.






21. Describe biased expectations in a behavioral finance context.






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






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


24. Describe the different types of double taxation conflicts.






25. What are the main types of investors?






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






27. Equation for total wealth.






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






29. characteristics of foundation stage






30. Investor questionnaires help to determine what?






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






32. What is the most common estate planning tool?






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






34. What are the two sources of wealth?






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






36. What is the most common estate planning tool?






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






38. stages of life






39. How is mortality risk typically hedged?






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


41. What are the main characteristics of fixed annuities?


42. characteristics of individualist investor






43. What is mortality risk?






44. What is tax alpha?






45. Describe a methodical investor personality type.






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






47. situational profiling


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






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






50. What are wealth taxes.