Ficep module 5 - Study guides, Class notes & Summaries

FiCEP Module 5 questions with accurate answers rated A+

________________ _____________ occurs when a criminal obtains personal information to use without permission. - ANSWERIdentity theft Primary sources of data for identity thieves include ___________ ________________ cards, driver's license, tax returns and medical insurance cards. - ANSWERSocial Security Opting out of __________________________ credit card offers will help stop identity theft. - ANSWERPre-screened Lack of a lock icon, misspelled words, altered logos and requests for per...

What immediate steps should be taken upon discovering identity theft? (2) (1) Close all existing accounts and open new accounts (2) Complete identity theft affidavit/report What is a fraud alert? 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? A consumer request that requires the credit bureaus to deny all access to a consumer's credit information or files; request...

FiCEP Module 5 Exam Questions with Correct Answers Basic principles of ________________________ include saving now, living below means, diversifying investments, thinking long term, and understanding brokerage fees. - Answer-retirement (True or False) Social security was designed as a supplement to income to help with basic needs, not as an income replacement. ___________ - Answer-true A __________ plan builds retirement savings by employees deferring tax on some income through contribu...

FiCEP Module 5: Exam Review Questions and answers, rated A+ ________________ _____________ occurs when a criminal obtains personal information to use without permission. - -Identity theft Primary sources of data for identity thieves include ___________ ________________ cards, driver's license, tax returns and medical insurance cards. - -Social Security Opting out of __________________________ credit card offers will help stop identity theft. - -Prescreened Lack of a lock icon, misspe...

FiCEP Module 5 Exam Questions with Correct Answers

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 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 Module 1: Questions and answers, rated A+ What is the ideal spending cycle? - -Earn / Save / Spend Which spending cycle is living "paycheck to paycheck"? - -Earn / Spend / Earn / Spend Which spending cycle claims to prioritize saving but rarely has any left? - -Earn / Spend / Save Which spending cycle relies on debt to maintain their lifestyle? - -Earn / Spend / Borrow / Spend What is money avoidance? - -Money is viewed as the root of evil and undeserved. What is money worship? -...

FiCEP Module 1 Exam Questions with Complete Solutions Which spending cycle relies on debt to maintain their lifestyle? - Answer-Earn / Spend / Borrow / Spend What is money avoidance? - Answer-Money is viewed as the root of evil and undeserved. What is money worship? - Answer-Money equals happiness and is the solution for all problems. What is money status? - Answer-Money defines self-worth and status. What is money vigilance? - Answer-Secretive and overly private about finances. ...