Credit counseling Study guides, Class notes & Summaries

FiCEP Exam Combined Questions With Revised Correct Answers | UPDATED | 1) Which of the following is the first step of the counseling process? a. Analyze data b. Develop a spending plan c. Collect member data d. Establish goals and objectives - ANSWER member data 2) It is best to divide a budget into which cycle? a. Daily b. Monthly c. Quarterly d. Annually - ANSWER b. Monthly c. Collect 3) Which of following provides a credit history incl...

CPCE Exam Questions and Answers 100% Pass When beginning a counseling relationship, you are ethically required to - Correct Answer ️️ -Inform the patient of the limits of confidentiality As you begin a counseling relationship, it is important to - Correct Answer ️️ -jointly decide, between patient and counselor, how the counseling process will proceed A client arrives for counseling with the presenting complaint of relationship difficulties. She goes on to describe that she has had...

HECM Test Exam Questions And Revised Correct Answers 2024 A borrower got her HECM loan many years ago when the lending limit for her county was $600,000. Her home is appraised for $800,000. What is the most her repayment of the loan could be? A. $600,000 B. $800,000 C. 75% of appraised value D. Net proceeds from selling the home - ANSWERS D A borrower has a $200,000 home value. What is the likely upfront cost added to the loan balance at closing? (Revisit. Where is the formula?) A...

AFC Prep Exam Questions With 100% Correct Answers. What is the role of a financial counselor? - answerFocus on the clients goals active listening skills are paramount help clients gain new insights goal is to work yourself out of a job Definition of financial counseling - answer"The creative use of all resources to obtain economic well-being for individuals and families." What are the goals of financial counseling? - answerHelp clients resovle immediate problems help them change ingra...

In order to get spending under control, a person should first A. seek help on investing from a financial planner. B. consult a credit counseling service. C. create a budget of current income and expenses. D. subscribe to financial newsletters and magazines. - ANSWER C Comparison shopping for a car is necessary because A. each dealer sells cars with different colors. B. lenders want to be sure consumers get the best price. C. the price for the car can vary a great deal. D. it is a requ...

FDCPA Test Study Guide| Questions and Verified Answers 100% Correct| Grade A (2024/ 2025) Q: 803. Definitions 15 USC 1692a Q: 803. Bureau Answer: term means the Bureau of Consumer Financial Protection. Q: communication Answer: term means the conveying of information regarding a debt directly or indirectly to any person through any medium Q: consumer Answer: term means any natural person obli- gated or allegedly obligated to pay any debt Q: credi...

Financial Credit And Counseling Exam: Questions & Verified Answers

Hud Final Actual Exam Questions And Answers 2024 100% Verified % Impact of Account Payment History on Credit Score - CORRECT ANSWER-35% portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens % Impact of Amounts Owed on Accounts on Credit Score - CORRECT ANSWER-30% portion of score based on the ratio of total credit extended to the amount of credit owed % Impact of Length of Credit History on Credit Score - CORRECT ...

CPFC UPDATED Exam Questions and CORRECT Answers Annuities - Ans Ins industry investment product. Holder deposits a sum of money with the insurance company and they in turn make monthly payments to the holder. Adverse Action Notice - Ans A notice informing one that credit, employment, insurance, or other benefits based on info in a credit report have been denied. Verbal pacing - Ans Adapt your counseling style to the clients' learning style. Net Worth - Ans The total of one's financia...

spending cycles? 1. Earn/Spend/Earn/Spend 2. Earn/Spend/Borrow/Spend 3. Earn/Spend/Save 4. Earn/Save/Spend What is the best spending cycle? 4. Cycle: Earn/Save/Spend Explain Cycle 1: Earn/Spend/Earn/Spend Paycheck to Paycheck members Explain Cycle 2: Earn/Spend/Borrow/Spend they confuse wants with needs Explain Cycle 3: Earn/Spend/Save There is not money left for saving because "something always comes up" Explain: Cycle 4: Earn/Save/Spend Paying your...