Ficep certification - Study guides, Class notes & Summaries

FICEP MODULE 3 EXAM QUESTIONS AND ANSWERS What does accounts receivable mean? - answer Money that is owed to a business What does accounts payable mean? - answer Money that a business owes to others What are considerations for cash flow when running a business? (7) - answer (1) Accounts receivable (2) Accounts payable (3) Cyclical or seasonal income (4) Inventory management (5) Taxes (6) Insurance (7) Retirement benefits

FICEP VOCABULARY (MIDTERM) WITH COMPLETE VERIFIED SOLUTIONS Assets - answer Items owned by the credit union that provide benefits to the credit union. Examples - loans, investments, real estate, and accounts receivable. Bankruptcy - answer A court action declaring a person free of most debt, due to the inability of the person to pay. Budget - answer A financial plan serving as an estimate of income, expenses, and cash flow that serves as a vehicle or tool to assist a family in taking co...

FICEP MODULE 5 PRACTICE TEST QUESTIONS AND ANSWERS What immediate steps should be taken upon discovering identity theft? (2) - answer (1) Close all existing accounts and open new accounts (2) Complete identity theft affidavit/report What is a fraud alert? - answer An alert put on the credit report indicating the borrower may have had their identity stolen or credit card or bank accounts compromised What is a credit freeze? - answer A consumer request that requires the credit bureaus to...

Ficep- F1900 Financial Counseling Certification Program With complete solutions latest update