Ficep Exam (100% Correct) Questions
and Answers
Which cycle describes members who are just surviving and living paycheck to
paycheck? –ANSWER: Earn/Spend/Earn/Spend
Financial counselors who don't use what they know about hemispheric thinking may
fall into the trap of: - ANSWER: 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: - ANSWER:
Communicates in an orderly, specific, and straight-forward way
The Johari Window describes four zones. When working with a member, the Hidden
Zone represents: - ANSWER: Information that is known to the member and not the
counselor
Which type of counseling should a consumer use when a member is preparing for a
large purchase? - ANSWER: Preventive
What is NOT a vital counselor skill? - ANSWER: Asking close-ended questions
An example of pacing is when a counselor: - ANSWER: Matches the member's energy
level
What is NOT a step in the change process? - ANSWER: Not revising the plan
What decision making tool is best to use when considering all forces in favor or
against a plan so decision can be made? - ANSWER: Force-field analysis
What is the first step of the counseling process? - ANSWER: Collect member data
It is best to divide a budget into which cycle? - ANSWER: Monthly
What provides a credit history including debt repayment practices for an individual?
- ANSWER: Credit report
When discussing a member's budget analysis, build in assumptions and adjustments
to make sure the process allows for a... - ANSWER: 12-month cycle
What is not a step that will reduce debt? - ANSWER: Borrowing money from payday
lenders
, Increasing a monthly payment beyond the minimum required by the credit issuer is
known as: - ANSWER: Paying more on the principal
One advantage of leasing a car is: - ANSWER: Locked into a contract
When determining if a vehicle is affordable, one should consider the: - ANSWER:
Purchase price, maintenance costs, insurance costs
What type of savings helps one cope when the unthinkable occurs? - ANSWER:
Emergency
A good action plan includes: - ANSWER: A list of steps and timeline for the member
to complete
What is NOT an example of ways members may start saving? - ANSWER: Increasing
living expenses with each new raise
One way to overcome a member's objection to financial counseling is to: - ANSWER:
Express confidence in member's ability to address the problem
You cannot help couples and families who have difficulties talking through money
issues by: - ANSWER: Meeting with members separately for financial counseling
What will NOT help families change financial habits? - ANSWER: Having children be
absent from discussions about spending changes
T/F: Late payments on jointly held debts will not be reflected on both credit reports -
ANSWER: False
Seasonal employees must: - ANSWER: Plan for times when income is low
When you own your own business, accounts payable is the: ANSWER: - Amount of
money you owe others
T/F: Becoming an authorized user means that the user is required to acquire debt -
ANSWER: False
Your credit report will not include: - ANSWER: Income and asset information
Identification and employment information does NOT include: - ANSWER:
Race/ethnicity information
T/F: Payment history has the least influence on one's credit score - False ANSWER: -
it is the largest influence on an individual's credit score
and Answers
Which cycle describes members who are just surviving and living paycheck to
paycheck? –ANSWER: Earn/Spend/Earn/Spend
Financial counselors who don't use what they know about hemispheric thinking may
fall into the trap of: - ANSWER: 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: - ANSWER:
Communicates in an orderly, specific, and straight-forward way
The Johari Window describes four zones. When working with a member, the Hidden
Zone represents: - ANSWER: Information that is known to the member and not the
counselor
Which type of counseling should a consumer use when a member is preparing for a
large purchase? - ANSWER: Preventive
What is NOT a vital counselor skill? - ANSWER: Asking close-ended questions
An example of pacing is when a counselor: - ANSWER: Matches the member's energy
level
What is NOT a step in the change process? - ANSWER: Not revising the plan
What decision making tool is best to use when considering all forces in favor or
against a plan so decision can be made? - ANSWER: Force-field analysis
What is the first step of the counseling process? - ANSWER: Collect member data
It is best to divide a budget into which cycle? - ANSWER: Monthly
What provides a credit history including debt repayment practices for an individual?
- ANSWER: Credit report
When discussing a member's budget analysis, build in assumptions and adjustments
to make sure the process allows for a... - ANSWER: 12-month cycle
What is not a step that will reduce debt? - ANSWER: Borrowing money from payday
lenders
, Increasing a monthly payment beyond the minimum required by the credit issuer is
known as: - ANSWER: Paying more on the principal
One advantage of leasing a car is: - ANSWER: Locked into a contract
When determining if a vehicle is affordable, one should consider the: - ANSWER:
Purchase price, maintenance costs, insurance costs
What type of savings helps one cope when the unthinkable occurs? - ANSWER:
Emergency
A good action plan includes: - ANSWER: A list of steps and timeline for the member
to complete
What is NOT an example of ways members may start saving? - ANSWER: Increasing
living expenses with each new raise
One way to overcome a member's objection to financial counseling is to: - ANSWER:
Express confidence in member's ability to address the problem
You cannot help couples and families who have difficulties talking through money
issues by: - ANSWER: Meeting with members separately for financial counseling
What will NOT help families change financial habits? - ANSWER: Having children be
absent from discussions about spending changes
T/F: Late payments on jointly held debts will not be reflected on both credit reports -
ANSWER: False
Seasonal employees must: - ANSWER: Plan for times when income is low
When you own your own business, accounts payable is the: ANSWER: - Amount of
money you owe others
T/F: Becoming an authorized user means that the user is required to acquire debt -
ANSWER: False
Your credit report will not include: - ANSWER: Income and asset information
Identification and employment information does NOT include: - ANSWER:
Race/ethnicity information
T/F: Payment history has the least influence on one's credit score - False ANSWER: -
it is the largest influence on an individual's credit score
