FICEP Test V2
1. Which activity is an example of reporting data?: Sharing short video clips ofmembers
discussing how counseling changed their lives
2. Which information is included on a credit report?: Current account balances
3. Of all elements that impact a credit score, which element has the largestsingle influence?:
Payment history
4. Which action produces a "hard" hit on a credit score?: A member appliesfor a new line of
credit
5. Which action should the financial counselor recommend to a member whoneeds to
improve their credit score?: Limiting the number of credit inquiries by lenders
6. Which activity should the financial counselor recommend to the member who aims to use
setting long-term goals as a way to increase income?: Creat-ing and following a spending plan
7. Which habitual driving behavior will lead to increased expenses for themember?: Braking
rapidly
8. Which recommendation should the financial counselor offer the memberwho is looking
for ways to decrease utility costs?: Run ventilation fans only when necessary
9. Which strategy should the financial counselor propose to the member who wants to begin
saving?: Setting aside the amount of a raise and continuing to liveon the previous salary
10. Which term describes a type of savings to which members regularly con- tribute and use
for occasional expenses?: Periodic savings
11. Which approach should the financial counselor recommend for the mem-ber who wants
to build a favorable credit history without acquiring debt?: - Opening a secured credit card
12. Prior to extending credit to a member, which data should the financial counselor consider
when assessing the member's character?: The member'slength of residency and duration of
employment
13. For which credit card source do typical offers include low interest ratesand low fees?:
Credit unions
14. Which element is a feature of prepaid cards?: Load fees
15. Which event affects a member's credit score?: A health care provider turnsover the
member's medical bill to collections.
16. The financial counselor is advising a member whose recently deceased parent had
significant medical debt at the time of death. Which information should the financial counselor
share with the member?: States do not follow the same requirements for determining which
creditors get paid back first.
17. The financial counselor should urge a member with medical debt to take which action
when speaking with a biller?: Express a desire and willingness topay the bill
, 18. Advantages of leasing a car include which consideration?: Monthly pay-ments
19. When discussing whether to close a low credit score auto loan, which strategy should the
financial counselor use?: Refer to previous discussionswhen the member applied for the loan.
20. Under which circumstance is a borrower's voluntary surrender of a vehiclean appropriate
action?: When returning the vehicle is the borrower's only option.
21. When discussing the benefits of homeownership, which caution should the financial
counselor offer the member?: To benefit from deductions for mort-gage interest and property
taxes, the homeowner's tax returns must be itemized.
22. Which information should the financial counselor include when educatingthe member
about how to prove their creditworthiness for the purpose of securing mortgage financing?: In
lieu of substantial credit history, lenders may use a history of strong payments toward rent,
utilities, or other non-credit reportingloans.
23. Which type of funding should a home seller require from a potential home- buyer to
demonstrate the seriousness of a purchase offer?: Earnest money
24. During the homebuying process, under which circumstance should the homebuyer expect
an increase in the required down payment for the home purchase?: The home's appraised value
is less than the home purchase price.
25. Which statement describes a financial counseling truth?: Counselors cannothelp
everyone.
26. Which approach to educating employees about the benefits of financialcounseling is
ideal?: Multiple methods
27. Which action helps the financial counselor control the interview and othermember
interactions?: Keeping the focus on finance
28. Which vital skill builds trust by allowing the financial counselor to imaginehow it might
feel to be in a member's situation?: Empathy
29. Members may resist suggestions if they feel as though which aspect of theiridentity is
being questioned?: Values
30. Which approach to decision-making is ideal for weighing options, deciding whether a
purchase is suitable or necessary, then making the best, balancedchoice?: Essential obligations
31. Which decision-making technique includes assigning a numerical ranking to needs, goals,
or levels of motivation?: Scaling
32. Which extreme financial approach may lead to dysfunctional responsessuch as
workaholism and compulsive spending?: Money worship
33. Which term refers to language that is defined by the manner in which wordsare said?:
Paralanguage
34. Which element is an example of the hard approach to communication?: -
1. Which activity is an example of reporting data?: Sharing short video clips ofmembers
discussing how counseling changed their lives
2. Which information is included on a credit report?: Current account balances
3. Of all elements that impact a credit score, which element has the largestsingle influence?:
Payment history
4. Which action produces a "hard" hit on a credit score?: A member appliesfor a new line of
credit
5. Which action should the financial counselor recommend to a member whoneeds to
improve their credit score?: Limiting the number of credit inquiries by lenders
6. Which activity should the financial counselor recommend to the member who aims to use
setting long-term goals as a way to increase income?: Creat-ing and following a spending plan
7. Which habitual driving behavior will lead to increased expenses for themember?: Braking
rapidly
8. Which recommendation should the financial counselor offer the memberwho is looking
for ways to decrease utility costs?: Run ventilation fans only when necessary
9. Which strategy should the financial counselor propose to the member who wants to begin
saving?: Setting aside the amount of a raise and continuing to liveon the previous salary
10. Which term describes a type of savings to which members regularly con- tribute and use
for occasional expenses?: Periodic savings
11. Which approach should the financial counselor recommend for the mem-ber who wants
to build a favorable credit history without acquiring debt?: - Opening a secured credit card
12. Prior to extending credit to a member, which data should the financial counselor consider
when assessing the member's character?: The member'slength of residency and duration of
employment
13. For which credit card source do typical offers include low interest ratesand low fees?:
Credit unions
14. Which element is a feature of prepaid cards?: Load fees
15. Which event affects a member's credit score?: A health care provider turnsover the
member's medical bill to collections.
16. The financial counselor is advising a member whose recently deceased parent had
significant medical debt at the time of death. Which information should the financial counselor
share with the member?: States do not follow the same requirements for determining which
creditors get paid back first.
17. The financial counselor should urge a member with medical debt to take which action
when speaking with a biller?: Express a desire and willingness topay the bill
, 18. Advantages of leasing a car include which consideration?: Monthly pay-ments
19. When discussing whether to close a low credit score auto loan, which strategy should the
financial counselor use?: Refer to previous discussionswhen the member applied for the loan.
20. Under which circumstance is a borrower's voluntary surrender of a vehiclean appropriate
action?: When returning the vehicle is the borrower's only option.
21. When discussing the benefits of homeownership, which caution should the financial
counselor offer the member?: To benefit from deductions for mort-gage interest and property
taxes, the homeowner's tax returns must be itemized.
22. Which information should the financial counselor include when educatingthe member
about how to prove their creditworthiness for the purpose of securing mortgage financing?: In
lieu of substantial credit history, lenders may use a history of strong payments toward rent,
utilities, or other non-credit reportingloans.
23. Which type of funding should a home seller require from a potential home- buyer to
demonstrate the seriousness of a purchase offer?: Earnest money
24. During the homebuying process, under which circumstance should the homebuyer expect
an increase in the required down payment for the home purchase?: The home's appraised value
is less than the home purchase price.
25. Which statement describes a financial counseling truth?: Counselors cannothelp
everyone.
26. Which approach to educating employees about the benefits of financialcounseling is
ideal?: Multiple methods
27. Which action helps the financial counselor control the interview and othermember
interactions?: Keeping the focus on finance
28. Which vital skill builds trust by allowing the financial counselor to imaginehow it might
feel to be in a member's situation?: Empathy
29. Members may resist suggestions if they feel as though which aspect of theiridentity is
being questioned?: Values
30. Which approach to decision-making is ideal for weighing options, deciding whether a
purchase is suitable or necessary, then making the best, balancedchoice?: Essential obligations
31. Which decision-making technique includes assigning a numerical ranking to needs, goals,
or levels of motivation?: Scaling
32. Which extreme financial approach may lead to dysfunctional responsessuch as
workaholism and compulsive spending?: Money worship
33. Which term refers to language that is defined by the manner in which wordsare said?:
Paralanguage
34. Which element is an example of the hard approach to communication?: -
