FICEP Test UPDATED Exam Questions and CORRECT Answers
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Course
Ficep
Institution
Ficep
FICEP Test UPDATED Exam Questions
and CORRECT Answers
Money avoidance is the idea that money is evil or ______________ - CORRECT ANSWERundeserved
The idea that money is the way to solve all a member's problems is money ______________
- CORRECT ANSWER- worship
Money ____________ is the membe...
FICEP Test UPDATED Exam Questions
and CORRECT Answers
Money avoidance is the idea that money is evil or ______________ - CORRECT ANSWER-
undeserved
The idea that money is the way to solve all a member's problems is money ______________
- CORRECT ANSWER- worship
Money ____________ is the member's belief that wealth is tied to self-worth. Money is seen
as a member's way to one-up others. - CORRECT ANSWER- Status
Money vigilance is a member's perceived need for ___________ about their financial
matters. - CORRECT ANSWER- secrecy
The ideal spending cycle a member should strive to be in is _________ / _______________ /
____________. This group pays themselves first - CORRECT ANSWER- earn save spend
Factors impacting money _____________ can include childhood experiences, emotional
disorders, out of control spending or ignoring the problem. - CORRECT ANSWER- attitudes
The most basic need members have is ___________________ needs like food, shelter, and
clothing. This is the _____ of the pyramid on Maslow's hierarchy of needs. - CORRECT
ANSWER- physiological, base
The _______ brain sees things in a logical way while the ______ brain may add color and
creativity to the thought process. - CORRECT ANSWER- left, right
A right brain person could benefit from a list with ________________ while you are sharing
information. - CORRECT ANSWER- illustrations
The ____________ zone of the Johari Window includes things known to others (counselor)
but unknown to self (member). - CORRECT ANSWER- blind
,The three types of financial counseling are ____________, _______________, and
____________. - CORRECT ANSWER- productive, preventative, and remedial
A counselor should seek to understand all the facts bout a client's circumstances before
generating alternatives using both _____________ and _______________ cues. - CORRECT
ANSWER- verbal, nonverbal
There are four steps in the member's change process. In sequential order they are:
1. Recognizing the _________ for change.
2. Gather ___________ and introduce new ideas.
3. ______________ plan as needed.
4. Make _____________ a part of the member's habits. - CORRECT ANSWER- Need
information
revise
changes
Help members prioritize essentials so they spend on ___________ instead of ____________.
- CORRECT ANSWER- needs, wants
Examining forces for or against a specific action are part of a _____________
______________ _____________________. - CORRECT ANSWER- Force field analysis
The counseling process contains six steps. In sequential order, they are:
1. ____________ member data
2. Establish clear financial _____________ and objectives.
3. _________________ data.
4. _____________ a spending, debt repayment and action plan
5. _______________ plan.
6. Monitor, evaluate, and ______________ as needed. - CORRECT ANSWER- collect
goals
analyze
, develop
implement
adjust
a ____________ plan looks at the sources of income and where clients spend their money. -
CORRECT ANSWER- spending
Cash _____ is the term to define money in and out of a client's budget. - CORRECT
ANSWER- flow
T or F
At least 3 recent paycheck stubs should be reviewed when gathering a member's financial
information. - CORRECT ANSWER- True
When analyzing expenses it is important to consider a 12 month cycle to take ____________
______________ into account which include rising utility costs for additional air in the
summer and heat in winter as well as back to school expenses every fall. - CORRECT
ANSWER- seasonal variations
Options for increasing ______________ include working overtime, getting a second job,
selling something and setting long term goals - CORRECT ANSWER- income
Accelerating debt repayment can be done by paying more on principal, rolling up payments
of the same amount monthly, or paying off ____________ _____________ debts first. -
CORRECT ANSWER- high interest
T or F
Since 2010 federal law requires consumers to have a choice to opt-in to overdraft programs. -
CORRECT ANSWER- True
____________ loans are the costliest way to handle cash flow problems. - CORRECT
ANSWER- Payday
When planning a trip, choose the vehicle that gives the best ___________ for that trip. -
CORRECT ANSWER- mileage
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