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FiCEP Final CUNA Review Latest Update Actual Exam 220 Questions and 100% Verified Correct Answers Guaranteed A+ $20.49
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FiCEP Final CUNA Review Latest Update Actual Exam 220 Questions and 100% Verified Correct Answers Guaranteed A+
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FiCEP Final CUNA Review Latest Update Actual Exam 220 Questions and 100% Verified Correct Answers Guaranteed A+

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  • August 26, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ficep final cuna review latest update a

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  • FiCEP
  • FiCEP

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FiCEP Final CUNA Review Latest Update 2024-
2025 Actual Exam 220 Questions and 100%
Verified Correct Answers Guaranteed A+

A Durable Power of Attorney for Health Care is recommended for any individual over the
age of.. - CORRECT ANSWER: 18


According to the General Accountability Office, how do men and women typically end up
financially in a divorce? - CORRECT ANSWER: Women's household income declines
on average about 41% and men's about 20%


According tot he 2013 consumer Literacy survey, what impact did the Great Recession
have on American's confidence in their money management skills? - CORRECT
ANSWER: 40% of respondents gave themselves a C, D, or F on their money
management skills.


As a guardian of the person, you would be responsible for.. - CORRECT ANSWER:
housing and living conditions; seeing the individual gets proper medical care


Choose the correct ranking of investments based on typical performance in order of
lower risk to higher risk. - CORRECT ANSWER: Savings account, life insurance, and
mutual funds.


Effective marketers understand that consumers' buying decisions are generally driven
by... - CORRECT ANSWER: their values.


For people without life insurance, now is usually the best time to buy because.. -
CORRECT ANSWER: insurance availability declines as people grow older and their
health declines.


For the average American family, how much of the budget is given to transportation
costs? - CORRECT ANSWER: Almost 1/5 of the budget.

,From the perspective of your financial well-being, what is the best way to decide
whether or not you should insure a particular item? - CORRECT ANSWER: Consider
the risk to your assets.


How can a member manage retirement savings to keep up with inflation? - CORRECT
ANSWER: They can take appropriate investment risks, keep costs low, and diversify
investments.


How can a policyholder obtain additional insurance protection for items such as
antiques or guns that might otherwise have only limited insurance reimbursement for
theft or loss due to policy limits? - CORRECT ANSWER: Purchase a schedule policy
rider, or "schedule" the items.


How can homeowners lower the cost of obtaining insurance? - CORRECT ANSWER:
By finding discounts and doing comparison shopping.


How can members be successful with their long-term financial health? - CORRECT
ANSWER: They can give up big spending and instead spend wisely.


How can members in a financial bind manage their credit cards to maintain a good
credit score? - CORRECT ANSWER: They should pay on time, even if they can only
afford the minimum payment.


How can members in financial difficulty regain the respect of borrowers and merchants?
- CORRECT ANSWER: They must pay bills on time.


How can members reduce auto insurance premiums without violating state laws? -
CORRECT ANSWER: Comparison shop, increase the deductible, or find discounts.


How can role-playing support financial changes within a family? - CORRECT ANSWER:
It prepares family members for situations where they must say "no" or take a different
approach to restrain spending.

, How can you reduce the cost of owning or renting a place to live? - CORRECT
ANSWER: Get a roommate or tenant, either on your own or through a HomeShare
program.


How can you reduce the likelihood of making an impulse purchase? - CORRECT
ANSWER: Leave your extra cash and credit and debit cards at home.


How did the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 impact
employee health benefits? - CORRECT ANSWER: It gave employees the right to retain
health insurance after their job ends by paying the full premium.


How do adding more telecommunication lines affect a household's budget? -
CORRECT ANSWER: As the number of lines increases, the costs will increase.


How do con artists get around requirements to produce IDs or passports to open
accounts or perform transactions? - CORRECT ANSWER: They can buy IDs and
personal information on the street or Internet, or produce fake IDs themselves.


How do different tax authorities treat items excluded from federal taxable income? -
CORRECT ANSWER: Exclusions vary from state to state.


How do home equity loans compare with home equity lines of credit (HELOC)? -
CORRECT ANSWER: A home equity loan is an installment loan with set payments. A
HELOC is a revolving loan with a variable monthly payment.


How do investors define risk? - CORRECT ANSWER: Risk is the chance that you will
lose the original investment.


How do most forms of IRAs help people who want to boost retirement savings after
reaching the age of 50? - CORRECT ANSWER: They allow accountholders to begin
making additional catch-up contributions at that age.

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