2
FICEP Test questions with precise detailed answers
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Money avoidance is the idea that money is evil or ______________ - ✔✔undeserved
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The idea that money is the way to solve all a member's problems is money ______________ -
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✔✔worship
Money ____________ is the member's belief that wealth is tied to self-worth. Money is seen as a
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member's way to one-up others. - ✔✔Status
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Money vigilance is a member's perceived need for ___________ about their financial matters. -
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✔✔secrecy
The ideal spending cycle a member should strive to be in is _________ / _______________ /
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____________. This group pays themselves first - ✔✔earn save spend || || || || || || || || ||
Factors impacting money _____________ can include childhood experiences, emotional
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disorders, out of control spending or ignoring the problem. - ✔✔attitudes
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The most basic need members have is ___________________ needs like food, shelter, and
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clothing. This is the _____ of the pyramid on Maslow's hierarchy of needs. - ✔✔physiological,
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base
The _______ brain sees things in a logical way while the ______ brain may add color and
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creativity to the thought process. - ✔✔left, right
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A right brain person could benefit from a list with ________________ while you are sharing
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information. - ✔✔illustrations || ||
,2
The ____________ zone of the Johari Window includes things known to others (counselor) but
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unknown to self (member). - ✔✔blind
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The three types of financial counseling are ____________, _______________, and
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____________. - ✔✔productive, preventative, and remedial || || || || ||
A counselor should seek to understand all the facts bout a client's circumstances before generating
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alternatives using both _____________ and _______________ cues. - ✔✔verbal, nonverbal
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There are four steps in the member's change process. In sequential order they are:
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1. Recognizing the _________ for change.
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2. Gather ___________ and introduce new ideas.
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3. ______________ plan as needed.
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4. Make _____________ a part of the member's habits. - ✔✔Need
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information
revise
changes
Help members prioritize essentials so they spend on ___________ instead of ____________. -
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✔✔needs, wants ||
Examining forces for or against a specific action are part of a _____________ ______________
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_____________________. - ✔✔Force field analysis || || || ||
The counseling process contains six steps. In sequential order, they are:
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1. ____________ member data
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2. Establish clear financial _____________ and objectives.
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3. _________________ data.
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4. _____________ a spending, debt repayment and action plan
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, 2
5. _______________ plan.
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6. Monitor, evaluate, and ______________ as needed. - ✔✔collect
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goals
analyze
develop
implement
adjust
a ____________ plan looks at the sources of income and where clients spend their money. -
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✔✔spending
Cash _____ is the term to define money in and out of a client's budget. - ✔✔flow
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T or F|| ||
At least 3 recent paycheck stubs should be reviewed when gathering a member's financial
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information. - ✔✔True || ||
When analyzing expenses it is important to consider a 12 month cycle to take ____________
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______________ into account which include rising utility costs for additional air in the summer || || || || || || || || || || || || || ||
and heat in winter as well as back to school expenses every fall. - ✔✔seasonal variations
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Options for increasing ______________ include working overtime, getting a second job, selling
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something and setting long term goals - ✔✔income || || || || || || ||
Accelerating debt repayment can be done by paying more on principal, rolling up payments of the
|| || || || || || || || || || || || || || || ||
same amount monthly, or paying off ____________ _____________ debts first. - ✔✔high
|| || || || || || || || || || || ||
interest
T or F|| ||
FICEP Test questions with precise detailed answers
|| || || || || ||
Money avoidance is the idea that money is evil or ______________ - ✔✔undeserved
|| || || || || || || || || || || ||
The idea that money is the way to solve all a member's problems is money ______________ -
|| || || || || || || || || || || || || || || || ||
✔✔worship
Money ____________ is the member's belief that wealth is tied to self-worth. Money is seen as a
|| || || || || || || || || || || || || || || || ||
member's way to one-up others. - ✔✔Status
|| || || || || ||
Money vigilance is a member's perceived need for ___________ about their financial matters. -
|| || || || || || || || || || || || || ||
✔✔secrecy
The ideal spending cycle a member should strive to be in is _________ / _______________ /
|| || || || || || || || || || || || || || || ||
____________. This group pays themselves first - ✔✔earn save spend || || || || || || || || ||
Factors impacting money _____________ can include childhood experiences, emotional
|| || || || || || || || ||
disorders, out of control spending or ignoring the problem. - ✔✔attitudes
|| || || || || || || || || ||
The most basic need members have is ___________________ needs like food, shelter, and
|| || || || || || || || || || || || ||
clothing. This is the _____ of the pyramid on Maslow's hierarchy of needs. - ✔✔physiological,
|| || || || || || || || || || || || || || ||
base
The _______ brain sees things in a logical way while the ______ brain may add color and
|| || || || || || || || || || || || || || || || ||
creativity to the thought process. - ✔✔left, right
|| || || || || || ||
A right brain person could benefit from a list with ________________ while you are sharing
|| || || || || || || || || || || || || || ||
information. - ✔✔illustrations || ||
,2
The ____________ zone of the Johari Window includes things known to others (counselor) but
|| || || || || || || || || || || || || ||
unknown to self (member). - ✔✔blind
|| || || || ||
The three types of financial counseling are ____________, _______________, and
|| || || || || || || || || ||
____________. - ✔✔productive, preventative, and remedial || || || || ||
A counselor should seek to understand all the facts bout a client's circumstances before generating
|| || || || || || || || || || || || || ||
alternatives using both _____________ and _______________ cues. - ✔✔verbal, nonverbal
|| || || || || || || || || ||
There are four steps in the member's change process. In sequential order they are:
|| || || || || || || || || || || || ||
1. Recognizing the _________ for change.
|| || || || ||
2. Gather ___________ and introduce new ideas.
|| || || || || ||
3. ______________ plan as needed.
|| || || ||
4. Make _____________ a part of the member's habits. - ✔✔Need
|| || || || || || || || || ||
information
revise
changes
Help members prioritize essentials so they spend on ___________ instead of ____________. -
|| || || || || || || || || || || || ||
✔✔needs, wants ||
Examining forces for or against a specific action are part of a _____________ ______________
|| || || || || || || || || || || || || ||
_____________________. - ✔✔Force field analysis || || || ||
The counseling process contains six steps. In sequential order, they are:
|| || || || || || || || || ||
1. ____________ member data
|| || ||
2. Establish clear financial _____________ and objectives.
|| || || || || ||
3. _________________ data.
|| ||
4. _____________ a spending, debt repayment and action plan
|| || || || || || || ||
, 2
5. _______________ plan.
|| ||
6. Monitor, evaluate, and ______________ as needed. - ✔✔collect
|| || || || || || || ||
goals
analyze
develop
implement
adjust
a ____________ plan looks at the sources of income and where clients spend their money. -
|| || || || || || || || || || || || || || || ||
✔✔spending
Cash _____ is the term to define money in and out of a client's budget. - ✔✔flow
|| || || || || || || || || || || || || || || ||
T or F|| ||
At least 3 recent paycheck stubs should be reviewed when gathering a member's financial
|| || || || || || || || || || || || || ||
information. - ✔✔True || ||
When analyzing expenses it is important to consider a 12 month cycle to take ____________
|| || || || || || || || || || || || || || ||
______________ into account which include rising utility costs for additional air in the summer || || || || || || || || || || || || || ||
and heat in winter as well as back to school expenses every fall. - ✔✔seasonal variations
|| || || || || || || || || || || || || || ||
Options for increasing ______________ include working overtime, getting a second job, selling
|| || || || || || || || || || || ||
something and setting long term goals - ✔✔income || || || || || || ||
Accelerating debt repayment can be done by paying more on principal, rolling up payments of the
|| || || || || || || || || || || || || || || ||
same amount monthly, or paying off ____________ _____________ debts first. - ✔✔high
|| || || || || || || || || || || ||
interest
T or F|| ||
