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FiCEP CUNA Exam with Questions and Answers
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FiCEP CUNA Exam with Questions and Answers
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FiCEP CUNA Exam with Questions andAnswers
Offering in-home baby-sitting is an example of which option for increasing income? -
✔✔Getting a second job.
Which driving behavior will lead to increased gas expenses for the member? - ✔✔Braking
rapidly.
If a member is looking for ways to decrease entertainment costs, which recommendation
should you offer? - ✔✔Borrowing items from a library.
what should you suggest to a member who wants to begin saving? - ✔✔Set aside what you
received as a raise and live on the previous salary.
Which term describes a type of savings referred to as a nest egg? - ✔✔Safety net savings.
Which is a way members can establish good credit? - ✔✔By opening a secured Credit Card.
Which of the fives C's of credit is based on a members past behaviors likely to affect an
individuals financial actions, such as length of employment? - ✔✔Character.
For which credit card source do typical offers include high interest rates and incentives? -
✔✔Retailers.
Which is not a feature of prepaid cards? - ✔✔Line of Credit.
When does medical debt affect a members credit score? - ✔✔A health care provider turns
over the medical bill to collections.
, You are advising a member whose recently deceased parent had significant medical debt at the
time of death. Which is not information you should provide? - ✔✔The estate bills will be
paid after the beneficiaries get their inheritance.
When addressing medical debt, you should understand what? - ✔✔Private insurance.
Which is a disadvantage of leasing a car that should be considered? - ✔✔Restricted milage.
When closing a low credit score auto loan, which strategy should you not use? - ✔✔Explain
that there is a brief grace period should the member miss a loan payment.
Under which circumstance, with the lenders permission, does the borrower sell the vehicle for
less money than is owed? - ✔✔Short sale.
When discussing the benefits of homeownership, which is not a tax benefit that can lower the
cost? - ✔✔Down payments.
In lieu of substantial credit history, lenders may use what? - ✔✔A history of strong payments
toward rent, utilities, or other non-credit reporting loans.
earnest money demonstrates what to a seller? - ✔✔Seriousness of a purchase offer.
If a homes appraised value is less than the home purchase price, what should the homebuyer
expect? - ✔✔An increase in the required down payment.
Before a member refinances a home, what should you advise them to consider? - ✔✔The
total cost.
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