FICEP EXAM ACTUAL EXAM 200 QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS)
|ALREADY GRADED A+
If a debtor files a _________ on your property you will will unable to sell or dispose
of it without arrangements on the debt. - ANSWER: Lien
Spending too much, saving too little, carrying too much debt, reliance on othersm
and caring to little about finance. - ANSWER: Poor financial habits
The view that money us evil or undeserved - ANSWER: Money avoidance
The belief that money is synonymous with happiness and success - ANSWER: Money
worship
Associates wealth with self-worth. - ANSWER: Money status
Perceived need for secrecy about one's financial wellness. - ANSWER: Money
Vigilance
Living paycheck to paycheck. - ANSWER: Earn/spend/earn
How do you combat earn/spend/earn patterns? - ANSWER: Dividing paycheck into
specific spending categories. "Capturing" money before it can be spent.
Confuse wants with needs. Relying on debt to establish and maintain the standard of
living they feel they deserve. - ANSWER: Earn/spend/borrow/spend
Savings is low priority. Rarely enough money. - ANSWER: Earn/spend/save
How can you combat Earn/spend/save patterns? - ANSWER: Identify reasons to save.
Pay yourself first. Saving money immediately. Budget and spend what is left. -
ANSWER: Earn/save/spend
Learned patterns, parents, society, creditors, lenders are examples of
______________ ________________. - ANSWER: behavioral influences
Financial counselors should seek to help members ______________ their
perspective to see other possibilities that could improve their financial health. -
ANSWER: Expand
Correlates to the left hemisphere. Orderly and systematic center for processing info
provided by the senses. Directed with a focused activity. - ANSWER: Conscious mind
, Correlates to the right hemisphere and provides autonomic processing, which
controls functions of the body that continually work in the background such as
breathing. - ANSWER: Unconscious mind
Correlates to the left, analytical side. Communicates in ways that are orderly,
specific, and straight-forward. Often assertive. - ANSWER: Hard Approach
Correlates with the right, creative side. Offers possibilities and suggestions. Avoids
absolutes or directives. - ANSWER: Soft Approach
Term for information that is known to a counselor and member. - ANSWER: Open
Information a counselor knows and a member does not. - ANSWER: Blind
Information the member knows and chooses not to share. - ANSWER: Hidden
Type of counseling that helps members cope with debt they cannot afford or poor
management. Often required in financial emergencies. - ANSWER: Remedial
counseling
Type of counseling that helps members with good financial habits manage financial
challenges due to life changes. Can be used to prepare members for a large
purchase. - ANSWER: Preventive counseling
Type of counseling that helps members identify the best way to use their resources
to improve their financial status. Often needed when someone suddenly acquires
assets. - ANSWER: Productive counseling
Used to determine how funds will be allocated and makes it possible to restrain
spending so money is available to meet living expenses, repay debt, and meet other
goals. - ANSWER: Budget
Counselors must ask _______________ questions. These are the key to helping
members recognize attitudes and practices that undermine their financial status. -
ANSWER: Perceptive
Counselors need to observe __________________ cues. - ANSWER: Nonverbal
Counselors use _____________ to create a feeling of connection with a member by
matching physical characteristics and unconscious movements. - ANSWER: Pacing
Counselors use ____________ to display communication patterns that match a
member's, such as speech rate, tone, and vocabulary. - ANSWER: Blending
Counselors say they need to learn more. "I would like to know more about why you
opened a new credit card". - ANSWER: Declarative lead
DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS)
|ALREADY GRADED A+
If a debtor files a _________ on your property you will will unable to sell or dispose
of it without arrangements on the debt. - ANSWER: Lien
Spending too much, saving too little, carrying too much debt, reliance on othersm
and caring to little about finance. - ANSWER: Poor financial habits
The view that money us evil or undeserved - ANSWER: Money avoidance
The belief that money is synonymous with happiness and success - ANSWER: Money
worship
Associates wealth with self-worth. - ANSWER: Money status
Perceived need for secrecy about one's financial wellness. - ANSWER: Money
Vigilance
Living paycheck to paycheck. - ANSWER: Earn/spend/earn
How do you combat earn/spend/earn patterns? - ANSWER: Dividing paycheck into
specific spending categories. "Capturing" money before it can be spent.
Confuse wants with needs. Relying on debt to establish and maintain the standard of
living they feel they deserve. - ANSWER: Earn/spend/borrow/spend
Savings is low priority. Rarely enough money. - ANSWER: Earn/spend/save
How can you combat Earn/spend/save patterns? - ANSWER: Identify reasons to save.
Pay yourself first. Saving money immediately. Budget and spend what is left. -
ANSWER: Earn/save/spend
Learned patterns, parents, society, creditors, lenders are examples of
______________ ________________. - ANSWER: behavioral influences
Financial counselors should seek to help members ______________ their
perspective to see other possibilities that could improve their financial health. -
ANSWER: Expand
Correlates to the left hemisphere. Orderly and systematic center for processing info
provided by the senses. Directed with a focused activity. - ANSWER: Conscious mind
, Correlates to the right hemisphere and provides autonomic processing, which
controls functions of the body that continually work in the background such as
breathing. - ANSWER: Unconscious mind
Correlates to the left, analytical side. Communicates in ways that are orderly,
specific, and straight-forward. Often assertive. - ANSWER: Hard Approach
Correlates with the right, creative side. Offers possibilities and suggestions. Avoids
absolutes or directives. - ANSWER: Soft Approach
Term for information that is known to a counselor and member. - ANSWER: Open
Information a counselor knows and a member does not. - ANSWER: Blind
Information the member knows and chooses not to share. - ANSWER: Hidden
Type of counseling that helps members cope with debt they cannot afford or poor
management. Often required in financial emergencies. - ANSWER: Remedial
counseling
Type of counseling that helps members with good financial habits manage financial
challenges due to life changes. Can be used to prepare members for a large
purchase. - ANSWER: Preventive counseling
Type of counseling that helps members identify the best way to use their resources
to improve their financial status. Often needed when someone suddenly acquires
assets. - ANSWER: Productive counseling
Used to determine how funds will be allocated and makes it possible to restrain
spending so money is available to meet living expenses, repay debt, and meet other
goals. - ANSWER: Budget
Counselors must ask _______________ questions. These are the key to helping
members recognize attitudes and practices that undermine their financial status. -
ANSWER: Perceptive
Counselors need to observe __________________ cues. - ANSWER: Nonverbal
Counselors use _____________ to create a feeling of connection with a member by
matching physical characteristics and unconscious movements. - ANSWER: Pacing
Counselors use ____________ to display communication patterns that match a
member's, such as speech rate, tone, and vocabulary. - ANSWER: Blending
Counselors say they need to learn more. "I would like to know more about why you
opened a new credit card". - ANSWER: Declarative lead
