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FICEP 100% CORRECT ANSWERS | ESTUDY LATEST, ALL ANSWERED 100%
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FICEP 100% CORRECT ANSWERS | ESTUDY LATEST, ALL ANSWERED 100%
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ESTUDYFICEP 100% CORRECT ANSWERS | ESTUDY LATEST,
ALL ANSWERED 100%
**1. A lien**
What happens if a debtor files a lien on your property?
A. You can sell it immediately
B. You will be unable to sell or dispose of it without arrangements on the debt
C. You can ignore the debt
D. It increases the property value
**- ANSWER: B. You will be unable to sell or dispose of it without arrangements on the debt.**
---
**2. Poor financial habits**
Which of the following describes poor financial habits?
A. Investing wisely and saving regularly
B. Spending too much, saving too little, carrying too much debt, reliance on others, and caring too little
about finance
C. Creating a budget and sticking to it
D. None of the above
**- ANSWER: B. Spending too much, saving too little, carrying too much debt, reliance on others, and
caring too little about finance.**
,ESTUDY
---
**3. Money avoidance**
Money avoidance is defined as:
A. The belief that money is essential for happiness
B. The view that money is evil or undeserved
C. The habit of saving excessively
D. None of the above
**- ANSWER: B. The view that money is evil or undeserved.**
---
**4. Money worship**
What does money worship refer to?
A. A healthy relationship with finances
B. The belief that money is synonymous with happiness and success
C. The idea that financial education is vital
D. None of the above
**- ANSWER: B. The belief that money is synonymous with happiness and success.**
---
**5. Money status**
,ESTUDY
Money status associates wealth with:
A. Generosity
B. Self-worth
C. Hard work
D. Community involvement
**- ANSWER: B. Self-worth.**
---
**6. Money vigilance**
Money vigilance refers to:
A. The open sharing of financial information
B. The perceived need for secrecy about one's financial wellness
C. An obsession with budgeting
D. None of the above
**- ANSWER: B. The perceived need for secrecy about one's financial wellness.**
---
**7. Earn/spend/earn**
What does earn/spend/earn describe?
A. Saving money regularly
B. Living paycheck to paycheck
, ESTUDY
C. Investing in assets
D. None of the above
**- ANSWER: B. Living paycheck to paycheck.**
---
**8. Dividing paycheck into specific spending categories**
How do you combat earn/spend/earn patterns?
A. By ignoring spending habits
B. By investing in stocks
C. By capturing money before it can be spent
D. By spending freely
**- ANSWER: C. By capturing money before it can be spent.**
---
**9. Earn/spend/borrow/spend**
This pattern is characterized by:
A. Confusing wants with needs and relying on debt to maintain a desired standard of living
B. Consistently saving money
C. Investing in long-term goals
D. None of the above
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