Debt counseling - Study guides, Class notes & Summaries

Spending Cycle- 1 Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now Spending Cycle - 3 Earn/Spend/Save CAN save $$$ BUT Savings is a low priority & something always comes up SOLUTION: P...

FiCEP Exam Questions and Answers Graded A+ Which cycle describes members who are just surviving and living paycheck to paycheck? Earn/Spend/Earn/Spend Financial counselors who don't use what they know about hemispheric thinking may fall into the trap of: Presenting information to a member in a manner that might not be the best way to communicate Using a hard approach, rather than a soft approach, with members: Communicates in an orderly, specific, and straight-forward way The Johari Window ...

FICEP- F1900 FINANCIAL COUNSELING CERTIFICATION PROGRAM EXAM QUESTIONS AND ANSWERS Spending Cycle- 1 - answer Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 - answer Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now

Financial Counseling Certification test with correct answers 2024 what is the definition of debt? A. Debt is the amount you save B.Debt is the amount you owe C.Debt is the amount you can borrow D.Debt is the amount you spend1 - ANSWER-B What are the housing market conditions that indicate a real estate "bubble"? A. Housing Values stagnate as consumer income rises. B.Consumer income rises faster than housing values. C.Both housing Values and con

NALA Exam Bankruptcy Questions & Answers 2024/2025 Purpose of Bankruptcy - ANSWERS-Provide protection to creditors -Provide opportunities for debtors to gain a "fresh financial start" -To help the honest but unfortunate debtor Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) - ANSWERSLegislative act that made many changes and overhaul to the bankruptcy code Changes made: - Created a means test to qualify for bankruptcy - Required credit counseling before...

CHAA 2024 Study Guide with Complete Solutions A financial counselor/Financial Assistance - Correct Answer In accordance with Section 501(r) regulations through the Affordable Care Act, a hospital must establish a written financial assistance policy and make it available to patients. Batch Processing - Correct Answer Execution of a series of jobs in a computer program without manual intervention; it is used to help maximize the use of computer resources and stabilize response time by performi...

1. A financial counselor/Financial Assistance: In accordance with Section 501(r) regulations through the Affordable Care Act, a hospital must establish a written financial assistance policy and make it available to patients. 2. Batch Processing: Execution of a series of jobs in a computer program without manual intervention; it is used to help maximize the use of computer resources and stabilize response time by performing system-intensive work during hours when users are less likely to require...

AFC Prep PASSED Exam Questions and CORRECT Answers You have been talking with your client and you say, "Tell me what brings you in today?" What phase of the financial counseling process are you transitioning to? - AnsExplore Which of the following sources is the best source for a goal to come from? - AnsThe Client A client has twin sons going to college in 7 years. They want to avoid burdening their sons with debt, and are concerned about cash flowing it because they would have to stop...

HUD Housing Counseling Exam 2023/2024 Back-end ratio The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly inco...

AFC Prep Test Questions With 100% Correct Answers. You have been talking with your client and you say, "Tell me what brings you in today?" What phase of the financial counseling process are you transitioning to? - answerExplore Which of the following sources is the best source for a goal to come from? - answerThe Client A client has twin sons going to college in 7 years. They want to avoid burdening their sons with debt, and are concerned about cash flowing it because they would have to...