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. benefits of IPS to manager






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

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

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






5. characteristics of cautious investor

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






7. Define tax drag.






8. All costs associated with probate are born by whom?

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






10. What are the main characteristics of variable annuities?

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11. characteristics of foundation stage






12. As probability of death increases...






13. Define capital gains taxes.






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






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






16. situational profiling - considerations






17. What is another name for a variable prepaid forward and What is its main purpose?






18. Describe biased expectations in a behavioral finance context.






19. What are the equity holding life risk attributes for an investor?






20. What are investment objectives and constraints?






21. What are the disadvantages of public exchange funds for low basis stock?






22. characteristics of maintenance phase






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






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






25. What are the different stages of life?






26. Equation for total wealth.






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






28. characteristics of distribution phase






29. What are the advantages of the monte carlo approach to portfolio construction?






30. What are typical characteristics of active wealth creators?






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






32. template for return objective






33. What are the disadvantages of public exchange funds for low basis stock?






34. What is measure of wealth?






35. Define capital gains taxes.






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






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






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






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






40. sources of wealth






41. What is human capital?






42. What is the eifference in willingness to take risk between active and passive wealth creators?






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






44. What is intestate?






45. What are the main characteristics of chritable gifts?






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






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






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

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






50. What is loss aversion?