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FICEP Final exam (Answered) 100% 165 Questions and Correct Answers. Updated Fall 2024/2025. $13.39   Add to cart

Exam (elaborations)

FICEP Final exam (Answered) 100% 165 Questions and Correct Answers. Updated Fall 2024/2025.

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FICEP Final exam (Answered) 100% 165 Questions and Correct Answers. Updated Fall 2024/2025.

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  • September 26, 2024
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  • 2024/2025
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FICEP Final exam (Answered) 100% 165
Questions and Correct Answers. Updated
Fall 2024/2025.
If a debtor files a _________ on your property you will will unable to sell or dispose of it without
arrangements on the debt.

Lien

Spending too much, saving too little, carrying too much debt, reliance on othersm and caring to little
about finance.

Poor financial habits

The view that money us evil or undeserved

Money avoidance

The belief that money is synonymous with happiness and success

Money worship

Associates wealth with self-worth.

Money status

Perceived need for secrecy about one's financial wellness.

Money Vigilance

Living paycheck to paycheck.

Earn/spend/earn

How do you combat earn/spend/earn patterns?

Dividing paycheck into specific spending categories. "Capturing" money before it can be spent.

Confuse wants with needs. Relying on debt to establish and maintain the standard of living they feel they
deserve.

Earn/spend/borrow/spend

Savings is low priority. Rarely enough money.

Earn/spend/save

How can you combat Earn/spend/save patterns?

Identify reasons to save.

, Pay yourself first. Saving money immediately. Budget and spend what is left.

Earn/save/spend

Learned patterns, parents, society, creditors, lenders are examples of ______________
________________.

behavioral influences

Financial counselors should seek to help members ______________ their perspective to see other
possibilities that could improve their financial health.

Expand

Correlates to the left hemisphere. Orderly and systematic center for processing info provided by the
senses. Directed with a focused activity.

Conscious mind

Correlates to the right hemisphere and provides autonomic processing, which controls functions of the
body that continually work in the background such as breathing.

Unconscious mind

Correlates to the left, analytical side. Communicates in ways that are orderly, specific, and straight-
forward. Often assertive.

Hard Approach

Correlates with the right, creative side. Offers possibilities and suggestions. Avoids absolutes or
directives.

Soft Approach

Term for information that is known to a counselor and member.

Open

Information a counselor knows and a member does not.

Blind

Information the member knows and chooses not to share.

Hidden

Type of counseling that helps members cope with debt they cannot afford or poor management. Often
required in financial emergencies.

Remedial counseling

Type of counseling that helps members with good financial habits manage financial challenges due to life
changes. Can be used to prepare members for a large purchase.

Preventive counseling

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