FICEP SIXTH EDITION
GRADE A+ 2024/2025
Describe active listening, what are the tactics to affirm information? (CHAPTER 7)
Tactics to affirm information include:
1. Restating or paraphrasing: These can be used to confirm one understands what a member is
trying to convey.
2. Summarizing: To improve communication, summarize the key issues. This helps the
counselor highlight key information and remain in control of the session, especially when
operating on a tight schedule.
Describe hard and soft approaches. (2) (CHAPTER 7)
• Hard approach: communicates in ways that are orderly, specific, and straightforward. It may
sometimes be perceived as aggressive. Reason and logic tend to dominate the hard approach to
communication.
• Soft approach: offers possibilities and suggestions, avoiding absolutes or directives.
Review the Financial Literacy topics by life stage chart. (CHAPTER 13) PG. 42
Review the Financial Literacy topics by life stage chart. (CHAPTER 13) PG. 42
What are the 3 types of counseling? Describe them. (CHAPTER 9)
1. Remedial counseling helps members cope with debt they cannot afford or poor money
management.
2. Preventive counseling helps members with good financial habits manage financial challenges
due to life changes. Preventive counseling also can be used to prepare members for large
purchases.
3. Productive counseling helps members identify the best ways to use their resources to improve
financial status. Productive counseling often is needed when someone suddenly acquires assets.
What are the 5 C's of credit? (CHAPTER 12)
1. Character is based on objective measures of past behavior likely to affect an individual's
financial actions: length of residency, length of employment, nature of credit history, and
frequency of credit inquiries.
, 2. Capacity indicates how much debt a member can realistically repay, based on current income
and expenses.
3. Capital is the amount of money a member has.
4. Collateral is an item that can be taken and sold by a lender if a borrower fails to pay as agreed,
usually a vehicle or a house. Thus, secured loans are secure because the lender will take the
collateral.
5. Conditions is the purpose of the loan, amount being asked for, current interest rates, and state
of the economy.
What are the communication principles? (3) (CHAPTER 7)
1. Paralanguage.
2. Selective perception.
3. Patterned Responses.
What are the core truths of creating a stable financial future? (CHAPTER 8)
1. Not everyone needs debt to live lavishly.
2. Choosing a different path can lead to financial freedom.
3. Spending less can lead to bigger rewards.
4. Paying on time is vital to gain respect as a responsible consumer.
5. Every decision regarding debt deserves thoughtful consideration.
6. Members pay the price for credit card advantages.
7. Paying off debts is better than settling for minimum payments.
8. Saving creates possibilities.
9. Freedom from debt is priceless.
10. Individuals can determine their financial futures.
What are the decision-making techniques? (6) (CHAPTER 5)
1. Scaling
2. Reframing
3. Using Exceptions
4. Future Pacing
5. Quotes and Stories
6. Metaphors
What are the decision-making tools? (3) (CHAPTER 5)
GRADE A+ 2024/2025
Describe active listening, what are the tactics to affirm information? (CHAPTER 7)
Tactics to affirm information include:
1. Restating or paraphrasing: These can be used to confirm one understands what a member is
trying to convey.
2. Summarizing: To improve communication, summarize the key issues. This helps the
counselor highlight key information and remain in control of the session, especially when
operating on a tight schedule.
Describe hard and soft approaches. (2) (CHAPTER 7)
• Hard approach: communicates in ways that are orderly, specific, and straightforward. It may
sometimes be perceived as aggressive. Reason and logic tend to dominate the hard approach to
communication.
• Soft approach: offers possibilities and suggestions, avoiding absolutes or directives.
Review the Financial Literacy topics by life stage chart. (CHAPTER 13) PG. 42
Review the Financial Literacy topics by life stage chart. (CHAPTER 13) PG. 42
What are the 3 types of counseling? Describe them. (CHAPTER 9)
1. Remedial counseling helps members cope with debt they cannot afford or poor money
management.
2. Preventive counseling helps members with good financial habits manage financial challenges
due to life changes. Preventive counseling also can be used to prepare members for large
purchases.
3. Productive counseling helps members identify the best ways to use their resources to improve
financial status. Productive counseling often is needed when someone suddenly acquires assets.
What are the 5 C's of credit? (CHAPTER 12)
1. Character is based on objective measures of past behavior likely to affect an individual's
financial actions: length of residency, length of employment, nature of credit history, and
frequency of credit inquiries.
, 2. Capacity indicates how much debt a member can realistically repay, based on current income
and expenses.
3. Capital is the amount of money a member has.
4. Collateral is an item that can be taken and sold by a lender if a borrower fails to pay as agreed,
usually a vehicle or a house. Thus, secured loans are secure because the lender will take the
collateral.
5. Conditions is the purpose of the loan, amount being asked for, current interest rates, and state
of the economy.
What are the communication principles? (3) (CHAPTER 7)
1. Paralanguage.
2. Selective perception.
3. Patterned Responses.
What are the core truths of creating a stable financial future? (CHAPTER 8)
1. Not everyone needs debt to live lavishly.
2. Choosing a different path can lead to financial freedom.
3. Spending less can lead to bigger rewards.
4. Paying on time is vital to gain respect as a responsible consumer.
5. Every decision regarding debt deserves thoughtful consideration.
6. Members pay the price for credit card advantages.
7. Paying off debts is better than settling for minimum payments.
8. Saving creates possibilities.
9. Freedom from debt is priceless.
10. Individuals can determine their financial futures.
What are the decision-making techniques? (6) (CHAPTER 5)
1. Scaling
2. Reframing
3. Using Exceptions
4. Future Pacing
5. Quotes and Stories
6. Metaphors
What are the decision-making tools? (3) (CHAPTER 5)
