CUNA FiCeP Certification Exam
Questions & Revised Correct
Detailed Answers
GRADED PASS
1) What is a debt trend that has shifted over the years? - ANSWER
Consumers once only limited their debt to mortgage and cars, however
now people use credit cards to purchase low-priced items.
2...
1) What is a debt trend that has shifted over the years? - ANSWER
Consumers once only limited their debt to mortgage and cars, however
now people use credit cards to purchase low-priced items.
2) Which information is included on a credit report? - ANSWER Current
Address.
3) Which is a step that can improve a credit score? - ANSWER Maintaining
older accounts rather than closing them.
4) What are 5 reasons for poor financial habits? - ANSWER 1. Spend too
much.
2.Save too little.
3. Too much debt.
4.Care too little about the financial future. (don't budget)
5.Rely on others.
5) What is money avoidance? - ANSWER An extreme financial approach
where money is evil or underserved. Often fearful of money.
, 6) What is money worship? - ANSWER An extreme financial approach where
money equals happiness and success.
Money is the solution to everything - overworker.
7) What is money status? - ANSWER Money dictates self worth and there's
anxiety around accumulating money.
They hang on to their socioeconomic status.
8) What is money vigilance? - ANSWER Very sensitive about their money.
They hide it from partners, and don't invest it.
9) Which element has the largest single influence on a credit score? - ANSWER
Payment History.
10) Which action produces a 'soft hit' on a credit score? - ANSWER
Requesting a copy of your own credit report.
11) What is the goal spending cycle? - ANSWER 4. Earn -- Save -- Spend
12) What is spending cycle number one? - ANSWER Earn -- Spend -- Earn --
Spend
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