FICEP STUDY GUIDE PREP QUESTIONS
WITH ANSWERS LATEST UPDATE
ALREADY GRADED A+
____ provide a financial alternative for those with no or
poor credit and need the convenience of a credit card. -
correct answer- prepaid credit cards
____ scams, illness, injury, and job loss are beyond the
control of a member. - correct answer- financial
_____ are a consideration for self-employed individuals. -
correct answer- estimated tax payments and
social security taxes
_____ are more liquid than diamonds and gold. -
correct answer- share accounts
_____ are retirement plans for people employed for
organizations that have 501(c)3 status. - correct
answer- 403(b) plans
,_____ can help manage the costs of insurance. -
correct answer- deductibles and policy limits
_____ can include alcohol, drugs, gambling, overspending,
shopping, internet, or pornography. - correct
answer- addictions
_____ can make a difference in the taxes paid. -
correct answer- filing status
_____ could be seen as wanting more money to have a
"better score". - correct answer- money status
_____ coverage helps pay for the cost of renting
transportation if your auto is unavailable because of
repairs resulting from an accident or extended repair. -
correct answer- car rental
,_____ covers such losses as theft, collision with an animal,
vandalism, hail damage, and fire damage. - correct
answer- comprehensive insurance
_____ covers the cost of summoning a tow truck or other
assistance if your vehicle has mechanical failure. -
correct answer- towing and roadside assistance
_____ give the benefits of consolidation at a lower rate
and deductibility of interest on the loan. - correct
answer- home equity loans
_____ gives protection from arbitrary interest rate
increases, no penalty for paying off during a grace period
and the ability to set their own limit. - correct
answer- CARD Act
_____ helps a consumer gain respect with creditors. -
correct answer- paying on time
, _____ in emails from people or companies you don't
recognize may be attempts to defraud you. - correct
answer- links
_____ is a broader coverage and provides a list of perils
for the coverage of the insured property. - correct
answer- HO-2
_____ is a dream that many parents have for their
children. - correct answer- college education
_____ is a problem for commission-based employees,
those that rely on tips, and seasonal workers. - correct
answer- variable income
_____ is a process to prove the will of a deceased person
is valid. - correct answer- probate
_____ is an easy way to grow savings for the credit union
members. - correct answer- payroll deduction
WITH ANSWERS LATEST UPDATE
ALREADY GRADED A+
____ provide a financial alternative for those with no or
poor credit and need the convenience of a credit card. -
correct answer- prepaid credit cards
____ scams, illness, injury, and job loss are beyond the
control of a member. - correct answer- financial
_____ are a consideration for self-employed individuals. -
correct answer- estimated tax payments and
social security taxes
_____ are more liquid than diamonds and gold. -
correct answer- share accounts
_____ are retirement plans for people employed for
organizations that have 501(c)3 status. - correct
answer- 403(b) plans
,_____ can help manage the costs of insurance. -
correct answer- deductibles and policy limits
_____ can include alcohol, drugs, gambling, overspending,
shopping, internet, or pornography. - correct
answer- addictions
_____ can make a difference in the taxes paid. -
correct answer- filing status
_____ could be seen as wanting more money to have a
"better score". - correct answer- money status
_____ coverage helps pay for the cost of renting
transportation if your auto is unavailable because of
repairs resulting from an accident or extended repair. -
correct answer- car rental
,_____ covers such losses as theft, collision with an animal,
vandalism, hail damage, and fire damage. - correct
answer- comprehensive insurance
_____ covers the cost of summoning a tow truck or other
assistance if your vehicle has mechanical failure. -
correct answer- towing and roadside assistance
_____ give the benefits of consolidation at a lower rate
and deductibility of interest on the loan. - correct
answer- home equity loans
_____ gives protection from arbitrary interest rate
increases, no penalty for paying off during a grace period
and the ability to set their own limit. - correct
answer- CARD Act
_____ helps a consumer gain respect with creditors. -
correct answer- paying on time
, _____ in emails from people or companies you don't
recognize may be attempts to defraud you. - correct
answer- links
_____ is a broader coverage and provides a list of perils
for the coverage of the insured property. - correct
answer- HO-2
_____ is a dream that many parents have for their
children. - correct answer- college education
_____ is a problem for commission-based employees,
those that rely on tips, and seasonal workers. - correct
answer- variable income
_____ is a process to prove the will of a deceased person
is valid. - correct answer- probate
_____ is an easy way to grow savings for the credit union
members. - correct answer- payroll deduction
