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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 private exchange funds for low basis stock?






2. Equation for total wealth.






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






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






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






6. What are the main characteristics of chritable gifts?






7. benefits of IPS to client






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






9. typical IPS elements






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






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






12. What are the different stages of life?






13. stages of life






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






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






16. What is human capital?






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






18. What are the diffferent types of tax jurisdictions?






19. benefits of IPS to client






20. template for return objective






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






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

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23. What is mortality risk?






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






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






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






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






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






29. Any amount above core capital is considered what?






30. characteristics of foundation stage






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






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






33. How is mortality risk typically hedged?






34. Describe the different types of double taxation conflicts.






35. What is measure of wealth?






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






37. What is core capital?






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






39. Describe a methodical investor personality type.






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






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






42. psychological profiling






43. Describe an individualistic investor personality type.






44. Define tax drag.






45. Investor questionnaires help to determine what?






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

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






48. typical IPS elements






49. Human capital is sometimes referred to as what?






50. What is human capital?