FiCEP- F1900 Financial Counseling Certification Program Exam Latest Update with Correct Solutions

FiCEP- F1900 Financial Counseling Certification Program Exam Latest Update with Correct Solutions Spending Cycle- 1 - Answer -Earn/Spend/Earn paycheck to paycheck SOLUTION: Must deal with habits Divide paycheck into SPECIFIC spending categories Capture $$$ for savings Pay down debt Spending Cycle - 2 - Answer -Earn/Spend/Borrow/Spend Rely on debt to establish and maintain lifestyle Have difficulty denying self Confuse wants with needs They believe they deserve it now Spending Cycle - 3 - Answer -Earn/Spend/Save CAN save $$$ BUT Savings is a low priority & something always comes up SOLUTION: Persuade to change ways by: Identifying reasons to save & give it a name (i.e car fund) VISUALIZE the results of saving Spending Cycle - 4 - Answer -Earn/Save/Spend This group has learned the vital rule for financial security: PAY YOURSELF FIRST Savings is a priority- understand its role in meeting long- term goals and creating financial securityGOAL - Answer -Move members from cycles 1,2,3 to cycle 4 The Brain has 2 hemispheres - Answer -Right & Left Right Brain Thinker - Answer -UNCONSCIOUS mind provides automatic processing controls body- continually working in the background provides data storage for reaction Right Brain Thinker - Answer -Information presented visually will help a right brain thinker Left Brain Thinker - Answer -An analytical approach will benefit a left-brain thinker An awareness of hemispheric thinking: - Answer -may help to understand the importance of being able to present information in a variety of ways. Left Brain Thinker - Answer -CONSCIOUS mind orderly & systematic center for: processing information provided by the senses -Interprets information -Evaluates situtation -Makes decisions Typically directed w/ focused activity Hard and Soft approaches: - Answer -Can be connected to the dominant side of the brain Hard Approach - Answer -LEFT Brain Analytical side