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FICEP FINAL EXAM 2024 ACTUAL EXAM 2 VERSIONS
(VERSION A AND B) COMPLETE 400 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS) ALREADY GRADED A+
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 - CORRECT ANSWER
>>>>collect member data
It is best to divide a budget into which cycle?
a. Daily
b. Monthly
c. Quarterly
d. Annually - CORRECT ANSWER >>>>monthly
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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 - CORRECT 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 - CORRECT 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 - CORRECT ANSWER >>>>Borrow
money from payday lenders
Increasing a monthly payment beyond the minimum
required by the credit issuer is known as:
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a. paying more on the principal.
b. rolling up the payment.
c. paying the high-interest debts first.
d. paying the largest debt first. - CORRECT ANSWER
>>>>paying more on the principal
One disadvantage of leasing a car is
a. equity builds every month
b. inconsistent monthly payments
c. locked into a contract
d. no factory warranty - CORRECT ANSWER >>>>locked into
a contract
Which cycle describes members who are just surviving and
living paycheck to paycheck?
a. Earn/spend/earn/spend
b. earn/spend/borrow/spend
c. earn/spend/save
d. earn/borrow/spend/save - CORRECT ANSWER
>>>>Earn/Spend/earn/spend
Financial counselors who don't use what they know about
hemispheric thinking may fall into the trap of:
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a. Assuming the member will succeed if they work with the
counsellor
b. Asking too many questions
c. Telling the member what they should do
d. Presenting information to a member in a manner that
might not be the best way to communicate - CORRECT
ANSWER >>>>presenting information to a member in a
manner that might not be the best way to communicate
Using a hard approach, rather than a soft approach, with
members:
a. Reminds members they are in control
b. Communicates in an orderly, specific and straight-forward
way
c. Correlates with the right side of the brain
d. Offers possibilities and suggestions - CORRECT ANSWER
>>>>Communicates in an orderly, specific and straight-
forward way
The Johari Window describes four zones. When working
with a member the Hidden Zone represents:
a. Information that is known to the counselor and the
member
b. Information that is known to the counselor and not the
member
c. Information that is known to the member and not the
counselor
FICEP FINAL EXAM 2024 ACTUAL EXAM 2 VERSIONS
(VERSION A AND B) COMPLETE 400 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS) ALREADY GRADED A+
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 - CORRECT ANSWER
>>>>collect member data
It is best to divide a budget into which cycle?
a. Daily
b. Monthly
c. Quarterly
d. Annually - CORRECT ANSWER >>>>monthly
,2|Page
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 - CORRECT 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 - CORRECT 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 - CORRECT ANSWER >>>>Borrow
money from payday lenders
Increasing a monthly payment beyond the minimum
required by the credit issuer is known as:
,3|Page
a. paying more on the principal.
b. rolling up the payment.
c. paying the high-interest debts first.
d. paying the largest debt first. - CORRECT ANSWER
>>>>paying more on the principal
One disadvantage of leasing a car is
a. equity builds every month
b. inconsistent monthly payments
c. locked into a contract
d. no factory warranty - CORRECT ANSWER >>>>locked into
a contract
Which cycle describes members who are just surviving and
living paycheck to paycheck?
a. Earn/spend/earn/spend
b. earn/spend/borrow/spend
c. earn/spend/save
d. earn/borrow/spend/save - CORRECT ANSWER
>>>>Earn/Spend/earn/spend
Financial counselors who don't use what they know about
hemispheric thinking may fall into the trap of:
, 4|Page
a. Assuming the member will succeed if they work with the
counsellor
b. Asking too many questions
c. Telling the member what they should do
d. Presenting information to a member in a manner that
might not be the best way to communicate - CORRECT
ANSWER >>>>presenting information to a member in a
manner that might not be the best way to communicate
Using a hard approach, rather than a soft approach, with
members:
a. Reminds members they are in control
b. Communicates in an orderly, specific and straight-forward
way
c. Correlates with the right side of the brain
d. Offers possibilities and suggestions - CORRECT ANSWER
>>>>Communicates in an orderly, specific and straight-
forward way
The Johari Window describes four zones. When working
with a member the Hidden Zone represents:
a. Information that is known to the counselor and the
member
b. Information that is known to the counselor and not the
member
c. Information that is known to the member and not the
counselor
