AWMA Exam 1 Practice Questions and Answers – Updated 2024
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Course
Awma
Institution
Awma
AWMA Exam 1 Practice Questions and
Answers – Updated 2024
Which one of the following characteristics is more correct concerning younger wealthy
individuals (millennials and GenXers)?
A) Younger wealthy individuals are seeking more technological options in financial planning.
B) Younger wealt...
requiring the lengthy IRS approval that private foundations need. Values may change with a DAF,
as major contributors have input into this type of charitable fund. In addition, only private
foundations must make payouts each year; DAFs have flexibility with this. Mod 1
If a high net worth (HNW) business owner came to your office, what would you expect her
financials to show, as compared to a HNW non-business owner?
A) About the same income, with more assets and higher net worth
B) About the same income with more assets, yet lower net worth
C) Higher income, with fewer assets and lower net worth
D) Lower income, with fewer assets and lower net worth - Answer✔✔-A) Income is similar
between all HNW professions; however, assets and net worth include business assets, so more
assets and higher net worth are common for HNW business owners. Many business owners are
exposed to a large amount of unsystematic risk because a significant amount of their capital is
often tied up in their business. Mod 1
When considering the social impact goals of a high net worth client, wealth planners should
expect those clients to
A)not want their planner to be involved in the charitable concern.
B)want their children to also develop charitable tendencies.
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