FICEP Test Complete Questions And Answers With Verified Solutions

FICEP Test Complete Questions And Answers With Verified Solutions
Money avoidance is the idea that money is evil or ______________ correct answerundeserved
The idea that money is the way to solve all a member's problems is money ______________ correct
answerworship
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. correct answerStatus
Money vigilance is a member's perceived need for ___________ about their financial matters. correct
answersecrecy
The ideal spending cycle a member should strive to be in is _________ / _______________ /
____________. This group pays themselves first correct answerearn save spend
Factors impacting money _____________ can include childhood experiences, emotional disorders, out
of control spending or ignoring the problem. correct answerattitudes
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. correct answerphysiological, base
The _______ brain sees things in a logical way while the ______ brain may add color and creativity to
the thought process. correct answerleft, right
A right brain person could benefit from a list with ________________ while you are sharing information.
correct answerillustrations
The ____________ zone of the Johari Window includes things known to others (counselor) but unknown
to self (member). correct answerblind
The three types of financial counseling are ____________, _______________, and ____________.
correct answerproductive, preventative, and remedial
A counselor should seek to understand all the facts bout a client's circumstances before generating
alternatives using both _____________ and _______________ cues. correct answerverbal, 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. correct answerNeed
information
revise
changes
Help members prioritize essentials so they spend on ___________ instead of ____________. correct
answerneeds, wants
Examining forces for or against a specific action are part of a _____________ ______________
_____________________. correct answerForce 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
5. _______________ plan.
6. Monitor, evaluate, and ______________ as needed. correct answercollect
goals
analyze
develop
implement
adjust
a ____________ plan looks at the sources of income and where clients spend their money. correct
answerspending
Cash _____ is the term to define money in and out of a client's budget. correct answerflow
T or F
At least 3 recent paycheck stubs should be reviewed when gathering a member's financial information.
correct answerTrue
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. correct answerseasonal variations
Options for increasing ______________ include working overtime, getting a second job, selling
something and setting long term goals correct answerincome
Accelerating debt repayment can be done by paying more on principal, rolling up payments of the same
amount monthly, or paying off ____________ _____________ debts first. correct answerhigh interest
T or F
Since 2010 federal law requires consumers to have a choice to opt-in to overdraft programs. correct
answerTrue
____________ loans are the costliest way to handle cash flow problems. correct answerPayday

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