FiCEP Exam Prep
1. Creating a strategy to achieve financial goals: Financial Planning
2. Helping members cope with poor money management: Remedial counsel-ing
3. Helping members with good financial habits manage challenges: Preven-tative counseling
4. Helping members use financial resources to improve financial status: Pro-ductive
counseling
5. Allocating money for expenses: Spending Plan
6. Strategy to pay off owed money: Debt Repayment Plan
7. Steps to achieve financial goals: Action Plan
8. Follow up and adjust as needed: After implementing the action plan...
9. Documents showing income details: Paycheck Stubs
10. Records of financial transactions: Bank Statements
11. Summary of individual's credit history: Credit Report
12. Legal seizure of wages for debt repayment: Garnishment
13. Money earned: Income
14. Money spent: Expenses
15. assess the member's current situation: Collect and analyze member data to...
16. establish clear financial goals and objectives: Find out what the memberwants to achieve
to...
17. paycheck stubsbank statements credit report
garnishment or collection informationrecurring utility bills
credit card statements
outstanding bills: Items the member should bring to the initial financial counselingsession
18. charactercapacity capital collateral
conditions: 5 C's of Credit
19. Based on objective measures of past behavior likely to affect an individ- ual's financial
actions: length of residency, length of employment, nature of credit history, and frequency of
credit inquiries.: Character
20. Indicates how much debt a member can realistically repay, based oncurrent income and
expenses.: Capacity
21. The amount of money a member has.: Capital
, 22. An item that can be taken and sold by a lender if a borrower fails to pay asagreed, usually a
vehicle or a house.: Collateral
23. The purpose of the loan, amount being asked for, current interest rates,and state of the
economy.: Conditions
24. The time period to create a budget for.: One month
25. Targets and aims for financial progress: Goals and Objectives
26. Combining debts into one larger loan and requires the member's ability toobtain a loan.:
Debt Consolidation Loans
27. Misconceptions like finding quick solutions and blaming members for fail-ure.:
Financial Counseling Myths
28. Unpredictable Creative Interactive Spontaneous Weighing Options
Suggesting Solutions: Financial Counseling Is
29. A substitute for professional therapy, a one-size-fits-all formula or an oppor-tunity for
counselors to take control.: Financial Counseling Isn't
30. Being a good listener, non-judgmental and the ability to control the conver-sation:
Financial Counselor Qualities
31. Essential obligations, force-field analysis, and cost-benefit analysis.: Deci-sion Making
Tools
32. Defining the needs the member must fulfill.: Essential Obligations decisionmaking tool
33. View all the forces in favor of or against a plan.: Force-Field Analysis decisionmaking
tool
34. Weighing the costs and benefits of two solutions.: Cost-Benefit Analysisdecision making
tool
35. Increased productivity, reduced absenteeism, increased loyalty and in-creased benefit
enrollment.: Benefits of counseling credit union employees
36. A decision making technique that involves a rating system to rank needs,goals or levels of
motivation.: Scaling
37. A decision making technique that involves helping members look at some-thing differently.:
Reframing
38. A decision making technique that involves focusing on a positive out-come.: Using
exceptions
39. A decision making technique that involves looking into the future to seehow things could
be.: Future pacing
40. A decision making technique that involves demonstrating how the membercan succeed
because others have done so.: Quotes and stories
41. A decision making technique that involves expressing a current situationin terms that
1. Creating a strategy to achieve financial goals: Financial Planning
2. Helping members cope with poor money management: Remedial counsel-ing
3. Helping members with good financial habits manage challenges: Preven-tative counseling
4. Helping members use financial resources to improve financial status: Pro-ductive
counseling
5. Allocating money for expenses: Spending Plan
6. Strategy to pay off owed money: Debt Repayment Plan
7. Steps to achieve financial goals: Action Plan
8. Follow up and adjust as needed: After implementing the action plan...
9. Documents showing income details: Paycheck Stubs
10. Records of financial transactions: Bank Statements
11. Summary of individual's credit history: Credit Report
12. Legal seizure of wages for debt repayment: Garnishment
13. Money earned: Income
14. Money spent: Expenses
15. assess the member's current situation: Collect and analyze member data to...
16. establish clear financial goals and objectives: Find out what the memberwants to achieve
to...
17. paycheck stubsbank statements credit report
garnishment or collection informationrecurring utility bills
credit card statements
outstanding bills: Items the member should bring to the initial financial counselingsession
18. charactercapacity capital collateral
conditions: 5 C's of Credit
19. Based on objective measures of past behavior likely to affect an individ- ual's financial
actions: length of residency, length of employment, nature of credit history, and frequency of
credit inquiries.: Character
20. Indicates how much debt a member can realistically repay, based oncurrent income and
expenses.: Capacity
21. The amount of money a member has.: Capital
, 22. An item that can be taken and sold by a lender if a borrower fails to pay asagreed, usually a
vehicle or a house.: Collateral
23. The purpose of the loan, amount being asked for, current interest rates,and state of the
economy.: Conditions
24. The time period to create a budget for.: One month
25. Targets and aims for financial progress: Goals and Objectives
26. Combining debts into one larger loan and requires the member's ability toobtain a loan.:
Debt Consolidation Loans
27. Misconceptions like finding quick solutions and blaming members for fail-ure.:
Financial Counseling Myths
28. Unpredictable Creative Interactive Spontaneous Weighing Options
Suggesting Solutions: Financial Counseling Is
29. A substitute for professional therapy, a one-size-fits-all formula or an oppor-tunity for
counselors to take control.: Financial Counseling Isn't
30. Being a good listener, non-judgmental and the ability to control the conver-sation:
Financial Counselor Qualities
31. Essential obligations, force-field analysis, and cost-benefit analysis.: Deci-sion Making
Tools
32. Defining the needs the member must fulfill.: Essential Obligations decisionmaking tool
33. View all the forces in favor of or against a plan.: Force-Field Analysis decisionmaking
tool
34. Weighing the costs and benefits of two solutions.: Cost-Benefit Analysisdecision making
tool
35. Increased productivity, reduced absenteeism, increased loyalty and in-creased benefit
enrollment.: Benefits of counseling credit union employees
36. A decision making technique that involves a rating system to rank needs,goals or levels of
motivation.: Scaling
37. A decision making technique that involves helping members look at some-thing differently.:
Reframing
38. A decision making technique that involves focusing on a positive out-come.: Using
exceptions
39. A decision making technique that involves looking into the future to seehow things could
be.: Future pacing
40. A decision making technique that involves demonstrating how the membercan succeed
because others have done so.: Quotes and stories
41. A decision making technique that involves expressing a current situationin terms that
