Ficep certification Study guides, Class notes & Summaries

Spending Cycle- 1 - ANSWER-Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 - ANSWER-Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now Spending Cycle - 3 - ANSWER-Earn/Spend/Save CAN save $$$ BUT Savings is a low priority & something always come...

Financial Counseling Certification Program (FiCEP) MODULE 2 STUDY GUIDE WITH VERIFIED SOLUTIONS ALREADY GRADED A+ Options for increasing _________________ include working overtime, getting a second job, selling something and setting long term goals. - 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. - answer High Interest (True or False) Since 2010 ...

Spending Cycle- 1 - ANSWER-Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 - ANSWER-Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now Spending Cycle - 3 - ANSWER-Earn/Spend/Save CAN save $$$ BUT Savings is a low priority & something always comes up ...

FiCEP- F1900 Financial Counseling Certification Program Exam 100% Solved AND VERIFIED

FiCEP- F1900 Financial Counseling Certification Program Exam 100% Solved

FICEP MODULE 3 EXAM QUESTIONS AND ANSWERS What does accounts receivable mean? - answer Money that is owed to a business What does accounts payable mean? - answer Money that a business owes to others What are considerations for cash flow when running a business? (7) - answer (1) Accounts receivable (2) Accounts payable (3) Cyclical or seasonal income (4) Inventory management (5) Taxes (6) Insurance (7) Retirement benefits

FICEP VOCABULARY (MIDTERM) WITH COMPLETE VERIFIED SOLUTIONS Assets - answer Items owned by the credit union that provide benefits to the credit union. Examples - loans, investments, real estate, and accounts receivable. Bankruptcy - answer A court action declaring a person free of most debt, due to the inability of the person to pay. Budget - answer A financial plan serving as an estimate of income, expenses, and cash flow that serves as a vehicle or tool to assist a family in taking co...

FICEP MODULE 5 PRACTICE TEST QUESTIONS AND ANSWERS What immediate steps should be taken upon discovering identity theft? (2) - answer (1) Close all existing accounts and open new accounts (2) Complete identity theft affidavit/report What is a fraud alert? - answer An alert put on the credit report indicating the borrower may have had their identity stolen or credit card or bank accounts compromised What is a credit freeze? - answer A consumer request that requires the credit bureaus to...

Ficep- F1900 Financial Counseling Certification Program With complete solutions latest update