FICEP EXAM PART 2 questions with complete
solutions
3000/ 25% Correct Ans- 75%
A Durable Power of Attorney for Health Care is recommended for any
individual over the age of.. Correct Ans- 18
As a guardian of the person, you would be responsible for.. Correct
Ans- housing and living conditions; seeing the individual gets proper
medical care
Definition of capacity regarding credit? Correct Ans- How much credit
you are able to handle.
Engine catching fire Correct Ans- Comprehensive insurance
How can a member manage retirement savings to keep up with
inflation? Correct Ans- They can take appropriate investment risks,
keep costs low, and diversify investments.
How did the Consolidated Omnibus Budget Reconciliation Act
(COBRA) of 1985 impact employee health benefits? Correct Ans- It
gave employees the right to retain health insurance after their job ends
by paying the full premium.
, How should adults in the family handle information about financial
problems? Correct Ans- All family members should be told if there are
financial problems.
How should part-time work during retirement fit into retirement
savings plans? Correct Ans- Part-time work can provide additional
income to complement pensions and savings.
If it looks like an elderly member may be the victim of a scam, how can
the teller help them? Correct Ans- The teller can ask the member's
permission to call a family member.
If you drop your thermostat by one degree, how much will it cut your
heating costs? Correct Ans- 3%
If you suspect fraud, when should you react? Correct Ans- React
quickly so you can ask more questions, stall the member, or call for help.
In community property states, how is property distributed among
partners following divorce? Correct Ans- Joint property is distributed
equally.
In order to make a cost-effective car purchase, what should you consider
before buying? Correct Ans- You should consider the car's cost to buy,
cost to maintain, ability to meet your needs, and resale value.
solutions
3000/ 25% Correct Ans- 75%
A Durable Power of Attorney for Health Care is recommended for any
individual over the age of.. Correct Ans- 18
As a guardian of the person, you would be responsible for.. Correct
Ans- housing and living conditions; seeing the individual gets proper
medical care
Definition of capacity regarding credit? Correct Ans- How much credit
you are able to handle.
Engine catching fire Correct Ans- Comprehensive insurance
How can a member manage retirement savings to keep up with
inflation? Correct Ans- They can take appropriate investment risks,
keep costs low, and diversify investments.
How did the Consolidated Omnibus Budget Reconciliation Act
(COBRA) of 1985 impact employee health benefits? Correct Ans- It
gave employees the right to retain health insurance after their job ends
by paying the full premium.
, How should adults in the family handle information about financial
problems? Correct Ans- All family members should be told if there are
financial problems.
How should part-time work during retirement fit into retirement
savings plans? Correct Ans- Part-time work can provide additional
income to complement pensions and savings.
If it looks like an elderly member may be the victim of a scam, how can
the teller help them? Correct Ans- The teller can ask the member's
permission to call a family member.
If you drop your thermostat by one degree, how much will it cut your
heating costs? Correct Ans- 3%
If you suspect fraud, when should you react? Correct Ans- React
quickly so you can ask more questions, stall the member, or call for help.
In community property states, how is property distributed among
partners following divorce? Correct Ans- Joint property is distributed
equally.
In order to make a cost-effective car purchase, what should you consider
before buying? Correct Ans- You should consider the car's cost to buy,
cost to maintain, ability to meet your needs, and resale value.
