FiCEP Final Exam Combined Questions With Revised Correct Answers | UPDATED |
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Course
FiCEP
Institution
FiCEP
FiCEP Final
Exam Combined
Questions With Revised Correct
Answers
| UPDATED |
During the Great Recession, the average American family lost
the equivalent of _____ years of savings and investments. -
ANSWER
18
Members can benefit from reducing _____, reducing or
eliminating ...
FiCEP Final
Exam Combined
Questions With Revised Correct
Answers
| UPDATED |
During the Great Recession, the average American family lost
the equivalent of _____ years of savings and investments. -
ANSWER 18
Members can benefit from reducing _____, reducing or
eliminating debt, and building savings. - ANSWER spending
Underlying factors for saving excuses are _____ or not making
savings a priority. - ANSWER postponement
One of the ways members can get started saving is to set aside
the net amount of a _____ in a savings account. - ANSWER
raise
,_____ is an easy way to grow savings for the credit union
members. - ANSWER payroll deduction
_____ is a dream that many parents have for their children. -
ANSWER college education
The rule of thirds with regard to paying for a college education
breaks down the funding into _____. - ANSWER savings,
grants, and loans
A top priority is to complete the _____ for federal student aid.
(FAFSA) - ANSWER free application
_____ may be available from schools, employers, veteran's
organizations, or online. - ANSWER scholarships
Be on guard of scholarship offers that ask for fees up front,
____, or those that say the student is a finalist and must pay a
fee to get the scholarship. - ANSWER account or credit card
numbers
, The gap between the savings, scholarships, and grants may be
funded by _____. - ANSWER student loans
The rule of thumb is to limit the student loan debt to the
potential earnings of the _____. - ANSWER first year of
working income
Parents should not neglect funding their _____ in favor of
funding college for children. - ANSWER retirement
Generally, there is a _____ deferment of payment for student
debt. - ANSWER six-month
Conflicting _____ can cause problems within family finances. -
ANSWER spending priorities
Writing down _____ is the first step to discussing finances for
families. - ANSWER individual goals
Disagreement over money is the most frequently cited reason
for _____. - ANSWER divorce
, Recently divorced clients should be careful not to _____ their
housing or transportation costs. - ANSWER overextend
_____ can include alcohol, drugs, gambling, overspending,
shopping, internet, or pornography. - ANSWER addictions
Financial counselors should recognize that they may not be
qualified to counsel about addictions beyond the _____
perspective. - ANSWER financial
_____ of addiction can include the cost of healthcare, legal
expenses, or treatment. - ANSWER costs
One of the benefits of working after you retire may be access
to _____. - ANSWER health care benefits
One of the ____ members give for not preparing for retirement
is that they will work until they die. - ANSWER excuses
Financial counselors are saying that retirees may need up to
_____% of their pre-retirement income to be adequately
funding into retirement. - ANSWER 100
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