FICEP EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS)
A good action plan includes: - correct answer- A
list of steps and timeline for the member to complete
A rule of thumb for education funding is known as the: -
correct answer- Rule of thirds
After a bankruptcy, members should: - correct
answer- Monitor credit scores every few months
After a death, financial counselors may: - correct
answer- Help members make a list of all debts and
financial obligations
After members experience identity theft, they should not:
- correct answer- Assume fraudsters will not use
their identity maliciously
,An advantage of using a credit card is: - correct
answer- Peace of mind knowing funds are available
An example of pacing is when a counselor: - correct
answer- Matches the member's energy level
Before referring a member to a financial planner for
investing advice, be sure the members has a: - correct
answer- Sufficient emergency fund
By pooling risk, insurers: - correct answer- Limit
their exposure when losses occur
Financial counselors who don't use what they know about
hemispheric thinking may fall into the trap of: -
correct answer- Presenting information to a
member in a manner that might not be the best way to
communicate
, Identification and employment information does NOT
include: - correct answer- Race/ethnicity
information
If members wish to re-establish debt after a bankruptcy,
they should not: - correct answer- Avoid all debt
in the future
Increasing a monthly payment beyond the minimum
required by the credit issuer is known as: - correct
answer- Paying more on the principal
Individuals with high credit scores: - correct
answer- Have a low percentage of available revolving
credit
It is best to divide a budget into which cycle? - correct
answer- Monthly
Members dealing with addiction, mental illness, or
physical abuse have: - correct answer-
DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS)
A good action plan includes: - correct answer- A
list of steps and timeline for the member to complete
A rule of thumb for education funding is known as the: -
correct answer- Rule of thirds
After a bankruptcy, members should: - correct
answer- Monitor credit scores every few months
After a death, financial counselors may: - correct
answer- Help members make a list of all debts and
financial obligations
After members experience identity theft, they should not:
- correct answer- Assume fraudsters will not use
their identity maliciously
,An advantage of using a credit card is: - correct
answer- Peace of mind knowing funds are available
An example of pacing is when a counselor: - correct
answer- Matches the member's energy level
Before referring a member to a financial planner for
investing advice, be sure the members has a: - correct
answer- Sufficient emergency fund
By pooling risk, insurers: - correct answer- Limit
their exposure when losses occur
Financial counselors who don't use what they know about
hemispheric thinking may fall into the trap of: -
correct answer- Presenting information to a
member in a manner that might not be the best way to
communicate
, Identification and employment information does NOT
include: - correct answer- Race/ethnicity
information
If members wish to re-establish debt after a bankruptcy,
they should not: - correct answer- Avoid all debt
in the future
Increasing a monthly payment beyond the minimum
required by the credit issuer is known as: - correct
answer- Paying more on the principal
Individuals with high credit scores: - correct
answer- Have a low percentage of available revolving
credit
It is best to divide a budget into which cycle? - correct
answer- Monthly
Members dealing with addiction, mental illness, or
physical abuse have: - correct answer-
