FICEP 2024/2025 updated Questions And Answers 100% correct

TRUE or FALSE: Receiving a medical bill affects your credit scoreFalse TRUE or FALSE: Divorce has a direct impact on credit scoreFalse Student loan refinancing makes sense when the member has:1. High interest rates on existing loans 2. Steady income 3. Above-average credit score Members need t...

401kPlan A plan which allows employees to make tax-deferred contributions to retirement savings accounts. Many employers match these contributions at a specified ratio to help retirement savings build faster. BeneficiaryThe person or persons who are designated to receive the amount of the death ...

What is the ideal spending cycle? Earn / Save / Spend Which spending cycle is living "paycheck to paycheck"? Earn / Spend / Earn / Spend Which spending cycle claims to prioritize saving but rarely has any left? Earn / Spend / Save Which spending cycle relies on debt to maintain their lifestyle?...

when dealing with finances-brainstorm with everyone in the household (buy-in) - do not try to control spouse's financial behavior - focus on goals progressive taxfederal and state income tax- if income increases, so does tax regressive taxcharge the same % of an item's cost, regardless of inco...

Lists to create before passing away1. Personal Inventory 2. Financial Inventory 3. Debts 4. Memberships Power of AttorneyDesignation for an individual to act as an agent and manage affairs if one is no longer able to do so. There are 4 types General POAProvides agent with broad power to act on...