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 disadvantages of public exchange funds for low basis stock?






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






3. situational profiling - considerations






4. Describe the different types of double taxation conflicts.






5. typical IPS elements






6. As probability of death increases...






7. sources of wealth






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






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






10. benefits of IPS to client






11. What are the main characteristics of chritable gifts?






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






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






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






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






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

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






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






19. What is loss aversion?






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






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






22. situational profiling - considerations






23. As desire to leave an estate increases...






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






25. sources of wealth






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






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






28. What are the different types of trusts?






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






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






31. What are the main types of investors?






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






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






34. situational profiling

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






36. four types of investors






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






38. benefits of IPS to manager






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

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40. characteristics of spontaneous investor

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41. typical IPS elements






42. What are the two sources of wealth?






43. As age increases..






44. characteristics of foundation stage






45. What are the main types of investors?






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






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






48. What are typical characteristics of passive recipients of wealth?






49. As desire to leave an estate increases...






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