Exam (elaborations)
FICEP TEST #2 QUESTIONS AND ANSWERS 2024
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FICEP TEST #2 QUESTIONS AND ANSWERS 2024
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FICEP TEST #2 QUESTIONS AND ANSWERS 2024People who have gambled in their lifetimes, in the past year - correct answer 85%, 66%
Learning financial attitudes from parents is known as - correct answer modeling
Consumers who want it "now vs later" are at the greatest risk of - correct answer spending more than they can afford
If a member thinks of a new obligation as only a few more dollars a month, without considering the total cost of the purchase, this usually indicates that they are - correct answer focusing too little on the future
Members viewing their 401k contributions as their primary savings are probably - correct answer saving too little
Earn/spend/earn/spend - correct answer living paycheck to paycheck
Earn/save/spend - correct answer pay yourself first, primary focus is saving
Earn/spend/borrow/spend - correct answer need it now, creates reliance on debt
Major advantage of using a credit card - correct answer it is convenient
Gambling addictions are hard to identify because - correct answer there is no saturation
point for gambling behavior
Goal of financial counseling - correct answer help members become responsible for their own financial lives
Goal of credit counseling - correct answer help create financial stability in member's financial lives
Financial counselors are not - correct answer therapists
When budgeting, financial counselors... - correct answer make suggestions, do not do the budget for them
Financial counselors make members aware of their financial situation by - correct answer showing the big picture (cash flow, total amount owed, interest rates)
Remedial counseling - correct answer used when short term crisis intervention is needed
Preventative counseling - correct answer planning for something (marriage, children, college)
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