FICEP Final exam (Answered) 100% 165
Questions and Correct Answers. Updated
Fall 2024/2025.
If a debtor files a _________ on your property you will will unable to sell or dispose of it without
arrangements on the debt.
Lien
Spending too much, saving too little, carrying too much debt, reliance on othersm and caring to little
about finance.
Poor financial habits
The view that money us evil or undeserved
Money avoidance
The belief that money is synonymous with happiness and success
Money worship
Associates wealth with self-worth.
Money status
Perceived need for secrecy about one's financial wellness.
Money Vigilance
Living paycheck to paycheck.
Earn/spend/earn
How do you combat earn/spend/earn patterns?
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.
Earn/spend/borrow/spend
Savings is low priority. Rarely enough money.
Earn/spend/save
How can you combat Earn/spend/save patterns?
Identify reasons to save.
, Pay yourself first. Saving money immediately. Budget and spend what is left.
Earn/save/spend
Learned patterns, parents, society, creditors, lenders are examples of ______________
________________.
behavioral influences
Financial counselors should seek to help members ______________ their perspective to see other
possibilities that could improve their financial health.
Expand
Correlates to the left hemisphere. Orderly and systematic center for processing info provided by the
senses. Directed with a focused activity.
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.
Unconscious mind
Correlates to the left, analytical side. Communicates in ways that are orderly, specific, and straight-
forward. Often assertive.
Hard Approach
Correlates with the right, creative side. Offers possibilities and suggestions. Avoids absolutes or
directives.
Soft Approach
Term for information that is known to a counselor and member.
Open
Information a counselor knows and a member does not.
Blind
Information the member knows and chooses not to share.
Hidden
Type of counseling that helps members cope with debt they cannot afford or poor management. Often
required in financial emergencies.
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.
Preventive counseling
Questions and Correct Answers. Updated
Fall 2024/2025.
If a debtor files a _________ on your property you will will unable to sell or dispose of it without
arrangements on the debt.
Lien
Spending too much, saving too little, carrying too much debt, reliance on othersm and caring to little
about finance.
Poor financial habits
The view that money us evil or undeserved
Money avoidance
The belief that money is synonymous with happiness and success
Money worship
Associates wealth with self-worth.
Money status
Perceived need for secrecy about one's financial wellness.
Money Vigilance
Living paycheck to paycheck.
Earn/spend/earn
How do you combat earn/spend/earn patterns?
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.
Earn/spend/borrow/spend
Savings is low priority. Rarely enough money.
Earn/spend/save
How can you combat Earn/spend/save patterns?
Identify reasons to save.
, Pay yourself first. Saving money immediately. Budget and spend what is left.
Earn/save/spend
Learned patterns, parents, society, creditors, lenders are examples of ______________
________________.
behavioral influences
Financial counselors should seek to help members ______________ their perspective to see other
possibilities that could improve their financial health.
Expand
Correlates to the left hemisphere. Orderly and systematic center for processing info provided by the
senses. Directed with a focused activity.
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.
Unconscious mind
Correlates to the left, analytical side. Communicates in ways that are orderly, specific, and straight-
forward. Often assertive.
Hard Approach
Correlates with the right, creative side. Offers possibilities and suggestions. Avoids absolutes or
directives.
Soft Approach
Term for information that is known to a counselor and member.
Open
Information a counselor knows and a member does not.
Blind
Information the member knows and chooses not to share.
Hidden
Type of counseling that helps members cope with debt they cannot afford or poor management. Often
required in financial emergencies.
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.
Preventive counseling
