Debt counseling Study guides, Class notes & Summaries

Financial Counseling Certification test with correct answers 2024 what is the definition of debt? A. Debt is the amount you save B.Debt is the amount you owe C.Debt is the amount you can borrow D.Debt is the amount you spend1 - ANSWER-B What are the housing market conditions that indicate a real estate "bubble"? A. Housing Values stagnate as consumer income rises. B.Consumer income rises faster than housing values. C.Both housing Values and con

HUD Housing Counseling Exam Question and answers rated A+ 2023 Back-end ratio - correct answer The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment a...

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...

Right Side of the Brain This side of the brain processes creativity, patterns, spatial awareness, context Financial Planning Helps members make the most of their incomes to accomplish long term goals, including saving and investing for retirement Debt Counseling Helps members learn possible ways to structure their debt. Credit Counseling Helps members manage spending in a way that rebuilds their credit and makes it possible to achieve financial goals. Budget Couns...

What are the housing market conditions that can indicate a real estate "bubble"? - ANSWER Housing values are rising faster than consumer income What five sources influence most consumers' financial practices? - ANSWER Parents, Lenders, learned patterns, creditors, society/peers What is the best tactic for helping members who are in the "earn/spend/earn/spend" cycle? - ANSWER Each paycheck must be divided up for specific categories such as savings and debt What are the six steps of ...

CHAA 2024 Study Guide with Complete Solutions A financial counselor/Financial Assistance - Correct Answer In accordance with Section 501(r) regulations through the Affordable Care Act, a hospital must establish a written financial assistance policy and make it available to patients. Batch Processing - Correct Answer Execution of a series of jobs in a computer program without manual intervention; it is used to help maximize the use of computer resources and stabilize response time by performi...

Which collection points are the patient most likely to pay during? correct answer: Pre-admission and admission 5 collection control points correct answer: -admission sion -house discharge discharge Which percentage should be pre-registered within 24 hours of service date? correct answer: 70% to 90% Patient access responsibilities correct answer: uling - registration & pre-admission testing (pat) -certification & pre-authorization ient admitting & outpatient registration ...

FICEP Exam Questions and Answers 100% Accurate Which cycle describes members who are just surviving and living paycheck to paycheck? a. Earn / spend / earn / spend b. Earn / spend / borrow / spend c. Earn / spend / save d. Earn / borrow / spend / save a. Earn / spend / earn / spend Webinar 1 Financial counselors who don't use what they know about hemispheric thinking, may fall into the trap of: a. Assuming the member will succeed if they work with the counsellor b. Asking too ma...

FiCep Part 1 Exam Questions And Answers What are the housing market conditions that can indicate a real estate "bubble"? - ANS Housing values are rising faster than consumer income What five sources influence most consumers' financial practices? - ANS Parents, Lenders, learned patterns, creditors, society/peers What is the best tactic for helping members who are in the "earn/spend/earn/spend" cycle? - ANS Each paycheck must be divided up for specific categories such as savi...

HUD Housing Counseling Exam 2023/2024 Back-end ratio The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly inco...