FICEP EXAM REVIEW 100 PRACTICE QUESTIONS AND CORRECT
DETAILED ANSWERS GRADED A+ LATEST ASSURED SUCCESS
Which of the following statements is false regarding tips to
avoid credit card problems?
A. Avoid using credit cards to finance an unaffordable lifestyle.
B. Accept unsolicited increases to credit limit to help maximize
borrowing power.
C. Pay more than the minimum payment when possible.
D. Don't have a high balance when relying on temporary teaser
rates
B. Accept unsolicited increases to credit limit to help maximize
borrowing power.
Webinar 5
Which of the following statements is false?"
A. Simply receiving a medical bill does not affect a credit
score.
B. Paying a medical bill a few days late does not affect a credit
score.
C. Medical bills affect a credit score if a collection agency is
involved.
D. If a medical bill is ultimately paid by an insurance company,
the cras do not have to remove the item from the credit
reports.
,D. If a medical bill is ultimately paid by an insurance company,
the cras do not have to remove the item from the credit
reports.
Webinar 6
Which of the following statements is true?
A. Estate obligations must be paid prior to any inheritance
being paid.
B. Beneficiaries are a priority in distributions of an estate.
C. Surviving family members are always responsible to pay
the deceased's medical bills.
D. Probate courts cannot decide which estate's assets must be
sold.
A. Estate obligations must be paid prior to any inheritance
being paid.
Webinar 6
While counseling members, when is the best time to ask if
they have medical debt?
A. During bankruptcy proceedings.
B. During an initial needs assessment.
C. During garnishment proceedings.
,D. Depositing their payroll check.
B. During an initial needs assessment.
Webinar 6
When it comes to addressing medical debt, counselors need to
A. Contact the medical provider for the member.
B. Assemble documentation and complete paperwork for the
member.
C. Complete and submit applications for public health
insurance for the member.
D. Coach members how to handle medical debt.
D. Coach members how to handle medical debt.
Webinar 6
A rule of thumb for education funding is known as the
A. Savings principles.
B. Savings rule.
C. Rule of thirds.
D. Rule of fourths.
C. Rule of thirds.
Webinar 6
, Student loan refinancing means
A. Taking out a new loan to pay off existing loans.
B. One will never lose loan benefits.
C. A federal student loan may be forgiven or discharged.
D. Only federal loans can be included in a refinance.
A. Taking out a new loan to pay off existing loans.
Webinar 6
One needs to consider the lending amount (minimum and
maximum), income requirements, and cosigner release when
A. Considering student loan default.
B. Comparing refinance companies.
C. Comparing mandatory and general forbearance.
D. Considering mandatory forbearance.
B. Comparing refinance companies.
Webinar 6
Which of the following statements is false?
A. Borrowers should avoid defaulting on student loans.
DETAILED ANSWERS GRADED A+ LATEST ASSURED SUCCESS
Which of the following statements is false regarding tips to
avoid credit card problems?
A. Avoid using credit cards to finance an unaffordable lifestyle.
B. Accept unsolicited increases to credit limit to help maximize
borrowing power.
C. Pay more than the minimum payment when possible.
D. Don't have a high balance when relying on temporary teaser
rates
B. Accept unsolicited increases to credit limit to help maximize
borrowing power.
Webinar 5
Which of the following statements is false?"
A. Simply receiving a medical bill does not affect a credit
score.
B. Paying a medical bill a few days late does not affect a credit
score.
C. Medical bills affect a credit score if a collection agency is
involved.
D. If a medical bill is ultimately paid by an insurance company,
the cras do not have to remove the item from the credit
reports.
,D. If a medical bill is ultimately paid by an insurance company,
the cras do not have to remove the item from the credit
reports.
Webinar 6
Which of the following statements is true?
A. Estate obligations must be paid prior to any inheritance
being paid.
B. Beneficiaries are a priority in distributions of an estate.
C. Surviving family members are always responsible to pay
the deceased's medical bills.
D. Probate courts cannot decide which estate's assets must be
sold.
A. Estate obligations must be paid prior to any inheritance
being paid.
Webinar 6
While counseling members, when is the best time to ask if
they have medical debt?
A. During bankruptcy proceedings.
B. During an initial needs assessment.
C. During garnishment proceedings.
,D. Depositing their payroll check.
B. During an initial needs assessment.
Webinar 6
When it comes to addressing medical debt, counselors need to
A. Contact the medical provider for the member.
B. Assemble documentation and complete paperwork for the
member.
C. Complete and submit applications for public health
insurance for the member.
D. Coach members how to handle medical debt.
D. Coach members how to handle medical debt.
Webinar 6
A rule of thumb for education funding is known as the
A. Savings principles.
B. Savings rule.
C. Rule of thirds.
D. Rule of fourths.
C. Rule of thirds.
Webinar 6
, Student loan refinancing means
A. Taking out a new loan to pay off existing loans.
B. One will never lose loan benefits.
C. A federal student loan may be forgiven or discharged.
D. Only federal loans can be included in a refinance.
A. Taking out a new loan to pay off existing loans.
Webinar 6
One needs to consider the lending amount (minimum and
maximum), income requirements, and cosigner release when
A. Considering student loan default.
B. Comparing refinance companies.
C. Comparing mandatory and general forbearance.
D. Considering mandatory forbearance.
B. Comparing refinance companies.
Webinar 6
Which of the following statements is false?
A. Borrowers should avoid defaulting on student loans.
