FICEP EXAM BUNDLE|QUESTIONS WITH CORRECT SOLUTIONS!!

people who have gambled in their lifetimes, in the past year - ANSWER85%, 66% learning financial attitudes from parents is known as - ANSWERmodeling consumers who want it "now vs later" are at the greatest risk of - ANSWERspending more than they can afford if a member thinks of a new obli...

Money avoidance is the idea that money is evil or ______________ - ANSWERundeserved The idea that money is the way to solve all a member's problems is money ______________ - ANSWERworship Money ____________ is the member's belief that wealth is tied to self-worth. Money is seen as a member'...

What are the housing market conditions that can indicate a real estate "bubble"? - ANSWERHousing values are rising faster than consumer income What five sources influence most consumers' financial practices? - ANSWERParents, Lenders, learned patterns, creditors, society/peers What is the be...

PACING - ANSWERcreate a feeling of connection with a member, by matching physical characteristics, such as posture, energy level, and breathing. BLENDING - ANSWERdisplay communication patterns that match a member's, such as speech rate, tone, vocabulary, and appearance FORCE-FIELD ANALYSIS - ...

operating costs - ANSWERA tax is defined as a contribution that supports the _____ of a government. progressive - ANSWERA _____ tax requires a taxpayer to pay more tax as their income increases. (Federal and state income taxes are examples) regressive - ANSWERA _____ tax charges the same perce...

TRUE or FALSE: Receiving a medical bill affects your credit score - ANSWERFalse TRUE or FALSE: Divorce has a direct impact on credit score - ANSWERFalse Student loan refinancing makes sense when the member has: - ANSWER1. High interest rates on existing loans 2. Steady income 3. Above-averag...

What are referral clues? - ANSWERDepression, anxiety, marital stress, secretive behavior, sudden change, severe unexplainable financial difficulties How do you make successful referrals? - ANSWER1. Recognize need to maintain dignity 2. Confidentiality 3. Be accurate 4. Set expectations especially...

What is the ideal spending cycle? - ANSWEREarn / Save / Spend Which spending cycle is living "paycheck to paycheck"? - ANSWEREarn / Spend / Earn / Spend Which spending cycle claims to prioritize saving but rarely has any left? - ANSWEREarn / Spend / Save Which spending cycle relies on deb...

Financial Well-Being - ANSWERTied to behaviors and attitudes, influenced by environment and experiences Poor Financial Habits - ANSWERSpending too much, saving too little, carrying too much debt, caring too little about financial future, reliance on others Spending Cycles - ANSWER4 primary cyc...

Cycle 1 - ANSWEREarn/Spend/Earn/Spend Cycle 2 - ANSWEREarn/Spend/Borrow/Spend Cycle 3 - ANSWEREarn/Spend/Save Cycle 4 - ANSWEREarn/Save/Spend Why is it important for counselors to have an understanding of Hemispheric thinking - ANSWERSo that they are aware that everyone learns and proces...

Which spending cycle is the preferred one to be in? - ANSWEREarn/Save/Spend concious mind - ANSWERleft hemisphere, center for processing sensory info unconscious mind - ANSWERRight hemisphere, autonomic processing Hard approach - ANSWERleft/analytic side, assertive/orderly/straightforward ...

________________ _____________ occurs when a criminal obtains personal information to use without permission. - ANSWERIdentity theft Primary sources of data for identity thieves include ___________ ________________ cards, driver's license, tax returns and medical insurance cards. - ANSWERSocial ...

deliquent - ANSWERdebt or other financial obligation on which payment is overdue foreclosure - ANSWERthe seizure of property from borrowers who are unable to repay their loans money avoidance - ANSWERbelieve that money is bad and they do not deserve it; may ignore their finances and avoid thin...

What does accounts receivable mean? - ANSWERMoney that is owed to a business What does accounts payable mean? - ANSWERMoney 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...