FICEP Test LCUL Test Questions with Correct Solutions| 100% Correct

Money avoidance is the idea that money is evil or ______________ - undeserved The idea that money is the way to solve all a member's problems is money ______________ - worship 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. - Status Money vigilance is a member's perceived need for ___________ about their financial matters. - secrecy The ideal spending cycle a member should strive to be in is _________ / _______________ / ____________. This group pays themselves first - earn save spend Factors impacting money _____________ can include childhood experiences, emotional disorders, out of control spending or ignoring the problem. - attitudes 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. - physiological, base The _______ brain sees things in a logical way while the ______ brain may add color and creativity to the thought process. - left, right A right brain person could benefit from a list with ________________ while you are sharing information. - illustrations The ____________ zone of the Johari Window includes things known to others (counselor) but unknown to self (member). - blind The three types of financial counseling are ____________, _______________, and ____________. - productive, preventative, and remedial A counselor should seek to understand all the facts bout a client's circumstances before generating alternatives using both _____________ and _______________ cues. - verbal, 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. - Need information revise changes Help members prioritize essentials so they spend on ___________ instead of ____________. - needs, wants Examining forces for or against a specific action are part of a _____________ ______________ _____________________. - Force 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. - collect goals analyze develop implement adjust a ____________ plan looks at the sources of income and where clients spend their money. - spending Cash _____ is the term to define money in and out of a client's budget. - flow T or F At least 3 recent paycheck stubs should be reviewed when gathering a member's financial information. - True 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. - seasonal variations Options for increasing ______________ include working overtime, getting a second job, selling something and setting long term goals - income Accelerating debt repayment can be done by paying more on principal, rolling up payments of the same amount monthly, or paying off ____________ _____________ debts first. - high interest T or F Since 2010 federal law requires consumers to have a choice to opt-in to overdraft programs. - True ____________ loans are the costliest way to handle cash flow problems. - Payday When planning a trip, choose the vehicle that gives the best ___________ for that trip. - mileage Secure vehicle financing for a vehicle ____________ you shop and consider how much you can afford for the vehicle plus insurance and upkeep. - before _____________ savings helps members cope with unexpected expenses. - Emergency ___________ _________________ savings helps members plan for known future expenses. - Set aside