AWMA Exam 3 Questions and Answers 100% Solved

AWMA Exam 3 Questions and Answers 100% Solved The top three specialty areas in which high net worth individuals seek advice include all of the following except A)retirement planning. B)tax planning. C)estate planning. D)investment planning. ️️A) The top three specialty areas in which high net worth individuals seek advice are tax, estate, and investment planning. Retirement planning is not as necessary, but may be a minor concern. Mod 1 Concerning behavioral biases and as compared to the mass affluent, high net worth individuals have A) more money-avoidance beliefs. B)less of a tendency for loss aversion. C)fewer money status beliefs. D)more external locus of control. ️️B) The wealthy are more likely than other investors to have a positive view about money. As compared to the mass affluent (with more money biases and some found to be earning less as a result), the high net worth individuals were found to have fewer money-avoidance beliefs, more money-status beliefs, a more internal locus of control, less of a tendency for loss aversion, and significantly more attribution of their financial success to two factors: a drive to increase their wealth and a commitment to follow their passions. Mod 1 In the wealth allocation framework, the liquid asset allocation would most likely include which one of the following assets?