1|Page
FICEP FINAL EXAM WITH QUESTIONS AND
100% CORRECT ANSWERS|| LATEST AND
COMPLETE VERSION 2025-2026 WITH EXPERT
VERIFIED SOLUTIONS|| ASSURED PASS
Which of the following decision-making tools is the best to use when considering
all forces in favor of or against a plan so a decision can be made?
a. Essential obligations
b. Cost-benefit analysis
c. Reframing
d. Force-field analysis - ✔✔✔ - ANSWER: Force-filed analysis
Which of the following statements is FALSE regarding the steps that can help
families change habits?
a. Children can be absent from discussions because spending changes will not
affect them.
b. Parents must present a united front when talking with children about money
c. Recognizing progress with positive feedback can keep everyone focused on
the goals.
d. Once problem areas are identified, develop strategies to save money.
- ✔✔✔ - ANSWER: Children can be absent from discussions because spending
changes will not affect them.
When determining if a vehicle is affordable, which of the following is NOT
important to consider?
a. Purchase price
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
2|Page
b. Maintenance
c. Insurance
d. Ability to pay online - ✔✔✔ - ANSWER: Ability to pay online
When dealing with credit during a divorce, which of the following is FALSE?
a. A divorce decree may specify which party is responsible for repaying which
debts.
b. If one spouse falls behind on payments of a jointly held account, both parties
are responsibilities.
c. Martial status not a factor in credit scoring systems
d. Late payments on jointly held debts will not be reflected on both credit
reports. - ✔✔✔ - ANSWER: Late payments on jointly held debts will not be
reflected on both credit reports.
Which of the following is the first step of the counseling process?
a. Analyze data
b. Develop a spending plan
c. Collect member data
d. Establish goals and objectives - ✔✔✔ - ANSWER: collect member data
It is best to divide a budget into which cycle?
a. Daily
b. Monthly
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
3|Page
c. Quarterly
d. Annually - ✔✔✔ - ANSWER: monthly
Which of the following provides a credit history including debt repayment
practices for an individual?
a. cash flows
b. net worth
c. debt ration
d. credit report - ✔✔✔ - ANSWER: credit report
When discussing a member's budget analysis build in assumptions and adjustments
to make sure the process allows for a
a. 12 month cycle
b. 24 - month cycle
c. 36- month cycle
d. 48 - month cycle - ✔✔✔ - ANSWER: 12 month cycle
Which of the following is NOT a step that will reduce debt?
a. Set goals
b. Stop creating debt
c. Borrow money from payday lenders
d. Consolidate credit cards - ✔✔✔ - ANSWER: Borrow money from payday
lenders
FICEP FINAL EXAM WITH QUESTIONS AND
100% CORRECT ANSWERS|| LATEST AND
COMPLETE VERSION 2025-2026 WITH EXPERT
VERIFIED SOLUTIONS|| ASSURED PASS
Which of the following decision-making tools is the best to use when considering
all forces in favor of or against a plan so a decision can be made?
a. Essential obligations
b. Cost-benefit analysis
c. Reframing
d. Force-field analysis - ✔✔✔ - ANSWER: Force-filed analysis
Which of the following statements is FALSE regarding the steps that can help
families change habits?
a. Children can be absent from discussions because spending changes will not
affect them.
b. Parents must present a united front when talking with children about money
c. Recognizing progress with positive feedback can keep everyone focused on
the goals.
d. Once problem areas are identified, develop strategies to save money.
- ✔✔✔ - ANSWER: Children can be absent from discussions because spending
changes will not affect them.
When determining if a vehicle is affordable, which of the following is NOT
important to consider?
a. Purchase price
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
2|Page
b. Maintenance
c. Insurance
d. Ability to pay online - ✔✔✔ - ANSWER: Ability to pay online
When dealing with credit during a divorce, which of the following is FALSE?
a. A divorce decree may specify which party is responsible for repaying which
debts.
b. If one spouse falls behind on payments of a jointly held account, both parties
are responsibilities.
c. Martial status not a factor in credit scoring systems
d. Late payments on jointly held debts will not be reflected on both credit
reports. - ✔✔✔ - ANSWER: Late payments on jointly held debts will not be
reflected on both credit reports.
Which of the following is the first step of the counseling process?
a. Analyze data
b. Develop a spending plan
c. Collect member data
d. Establish goals and objectives - ✔✔✔ - ANSWER: collect member data
It is best to divide a budget into which cycle?
a. Daily
b. Monthly
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
3|Page
c. Quarterly
d. Annually - ✔✔✔ - ANSWER: monthly
Which of the following provides a credit history including debt repayment
practices for an individual?
a. cash flows
b. net worth
c. debt ration
d. credit report - ✔✔✔ - ANSWER: credit report
When discussing a member's budget analysis build in assumptions and adjustments
to make sure the process allows for a
a. 12 month cycle
b. 24 - month cycle
c. 36- month cycle
d. 48 - month cycle - ✔✔✔ - ANSWER: 12 month cycle
Which of the following is NOT a step that will reduce debt?
a. Set goals
b. Stop creating debt
c. Borrow money from payday lenders
d. Consolidate credit cards - ✔✔✔ - ANSWER: Borrow money from payday
lenders
