FICEP Final exam UPDATED ACTUAL
Questions and CORRECT Answers
Lien - CORRECT ANSWER✔✔- If a debtor files a _________ on your property you will
will unable to sell or dispose of it without arrangements on the debt.
Poor financial habits - CORRECT ANSWER✔✔- Spending too much, saving too little,
carrying too much debt, reliance on othersm and caring to little about finance.
Money avoidance - CORRECT ANSWER✔✔- The view that money us evil or undeserved
Money worship - CORRECT ANSWER✔✔- The belief that money is synonymous with
happiness and success
Money status - CORRECT ANSWER✔✔- Associates wealth with self-worth.
Money Vigilance - CORRECT ANSWER✔✔- Perceived need for secrecy about one's
financial wellness.
Earn/spend/earn - CORRECT ANSWER✔✔- Living paycheck to paycheck.
Dividing paycheck into specific spending categories. "Capturing" money before it can be
spent. - CORRECT ANSWER✔✔- How do you combat earn/spend/earn patterns?
Earn/spend/borrow/spend - CORRECT ANSWER✔✔- Confuse wants with needs. Relying
on debt to establish and maintain the standard of living they feel they deserve.
Earn/spend/save - CORRECT ANSWER✔✔- Savings is low priority. Rarely enough money.
Identify reasons to save. - CORRECT ANSWER✔✔- How can you combat Earn/spend/save
patterns?
,Earn/save/spend - CORRECT ANSWER✔✔- Pay yourself first. Saving money immediately.
Budget and spend what is left.
behavioral influences - CORRECT ANSWER✔✔- Learned patterns, parents, society,
creditors, lenders are examples of ______________ ________________.
Expand - CORRECT ANSWER✔✔- Financial counselors should seek to help members
______________ their perspective to see other possibilities that could improve their financial
health.
Conscious mind - CORRECT ANSWER✔✔- Correlates to the left hemisphere. Orderly and
systematic center for processing info provided by the senses. Directed with a focused activity.
Unconscious mind - CORRECT ANSWER✔✔- Correlates to the right hemisphere and
provides autonomic processing, which controls functions of the body that continually work in
the background such as breathing.
Hard Approach - CORRECT ANSWER✔✔- Correlates to the left, analytical side.
Communicates in ways that are orderly, specific, and straight-forward. Often assertive.
Soft Approach - CORRECT ANSWER✔✔- Correlates with the right, creative side. Offers
possibilities and suggestions. Avoids absolutes or directives.
Open - CORRECT ANSWER✔✔- Term for information that is known to a counselor and
member.
Blind - CORRECT ANSWER✔✔- Information a counselor knows and a member does not.
Hidden - CORRECT ANSWER✔✔- Information the member knows and chooses not to
share.
Remedial counseling - CORRECT ANSWER✔✔- Type of counseling that helps members
cope with debt they cannot afford or poor management. Often required in financial
emergencies.
, Preventive counseling - CORRECT ANSWER✔✔- Type of counseling that helps members
with good financial habits manage financial challenges due to life changes. Can be used to
prepare members for a large purchase.
Productive counseling - CORRECT ANSWER✔✔- Type of counseling that helps members
identify the best way to use their resources to improve their financial status. Often needed
when someone suddenly acquires assets.
Budget - CORRECT ANSWER✔✔- Used to determine how funds will be allocated and
makes it possible to restrain spending so money is available to meet living expenses, repay
debt, and meet other goals.
Perceptive - CORRECT ANSWER✔✔- Counselors must ask _______________ questions.
These are the key to helping members recognize attitudes and practices that undermine their
financial status.
Nonverbal - CORRECT ANSWER✔✔- Counselors need to observe __________________
cues.
Pacing - CORRECT ANSWER✔✔- Counselors use _____________ to create a feeling of
connection with a member by matching physical characteristics and unconscious movements.
Blending - CORRECT ANSWER✔✔- Counselors use ____________ to display
communication patterns that match a member's, such as speech rate, tone, and vocabulary.
Declarative lead - CORRECT ANSWER✔✔- Counselors say they need to learn more. "I
would like to know more about why you opened a new credit card".
Imperative lead - CORRECT ANSWER✔✔- Counselors direct members to tell them more.
"Tell me why that is important to you". Give members time to think.
Selective restatement - CORRECT ANSWER✔✔- Counselor selects a sentence or other
information offered by the member, restates it, and waits for the member to respond.
Questions and CORRECT Answers
Lien - CORRECT ANSWER✔✔- If a debtor files a _________ on your property you will
will unable to sell or dispose of it without arrangements on the debt.
Poor financial habits - CORRECT ANSWER✔✔- Spending too much, saving too little,
carrying too much debt, reliance on othersm and caring to little about finance.
Money avoidance - CORRECT ANSWER✔✔- The view that money us evil or undeserved
Money worship - CORRECT ANSWER✔✔- The belief that money is synonymous with
happiness and success
Money status - CORRECT ANSWER✔✔- Associates wealth with self-worth.
Money Vigilance - CORRECT ANSWER✔✔- Perceived need for secrecy about one's
financial wellness.
Earn/spend/earn - CORRECT ANSWER✔✔- Living paycheck to paycheck.
Dividing paycheck into specific spending categories. "Capturing" money before it can be
spent. - CORRECT ANSWER✔✔- How do you combat earn/spend/earn patterns?
Earn/spend/borrow/spend - CORRECT ANSWER✔✔- Confuse wants with needs. Relying
on debt to establish and maintain the standard of living they feel they deserve.
Earn/spend/save - CORRECT ANSWER✔✔- Savings is low priority. Rarely enough money.
Identify reasons to save. - CORRECT ANSWER✔✔- How can you combat Earn/spend/save
patterns?
,Earn/save/spend - CORRECT ANSWER✔✔- Pay yourself first. Saving money immediately.
Budget and spend what is left.
behavioral influences - CORRECT ANSWER✔✔- Learned patterns, parents, society,
creditors, lenders are examples of ______________ ________________.
Expand - CORRECT ANSWER✔✔- Financial counselors should seek to help members
______________ their perspective to see other possibilities that could improve their financial
health.
Conscious mind - CORRECT ANSWER✔✔- Correlates to the left hemisphere. Orderly and
systematic center for processing info provided by the senses. Directed with a focused activity.
Unconscious mind - CORRECT ANSWER✔✔- Correlates to the right hemisphere and
provides autonomic processing, which controls functions of the body that continually work in
the background such as breathing.
Hard Approach - CORRECT ANSWER✔✔- Correlates to the left, analytical side.
Communicates in ways that are orderly, specific, and straight-forward. Often assertive.
Soft Approach - CORRECT ANSWER✔✔- Correlates with the right, creative side. Offers
possibilities and suggestions. Avoids absolutes or directives.
Open - CORRECT ANSWER✔✔- Term for information that is known to a counselor and
member.
Blind - CORRECT ANSWER✔✔- Information a counselor knows and a member does not.
Hidden - CORRECT ANSWER✔✔- Information the member knows and chooses not to
share.
Remedial counseling - CORRECT ANSWER✔✔- Type of counseling that helps members
cope with debt they cannot afford or poor management. Often required in financial
emergencies.
, Preventive counseling - CORRECT ANSWER✔✔- Type of counseling that helps members
with good financial habits manage financial challenges due to life changes. Can be used to
prepare members for a large purchase.
Productive counseling - CORRECT ANSWER✔✔- Type of counseling that helps members
identify the best way to use their resources to improve their financial status. Often needed
when someone suddenly acquires assets.
Budget - CORRECT ANSWER✔✔- Used to determine how funds will be allocated and
makes it possible to restrain spending so money is available to meet living expenses, repay
debt, and meet other goals.
Perceptive - CORRECT ANSWER✔✔- Counselors must ask _______________ questions.
These are the key to helping members recognize attitudes and practices that undermine their
financial status.
Nonverbal - CORRECT ANSWER✔✔- Counselors need to observe __________________
cues.
Pacing - CORRECT ANSWER✔✔- Counselors use _____________ to create a feeling of
connection with a member by matching physical characteristics and unconscious movements.
Blending - CORRECT ANSWER✔✔- Counselors use ____________ to display
communication patterns that match a member's, such as speech rate, tone, and vocabulary.
Declarative lead - CORRECT ANSWER✔✔- Counselors say they need to learn more. "I
would like to know more about why you opened a new credit card".
Imperative lead - CORRECT ANSWER✔✔- Counselors direct members to tell them more.
"Tell me why that is important to you". Give members time to think.
Selective restatement - CORRECT ANSWER✔✔- Counselor selects a sentence or other
information offered by the member, restates it, and waits for the member to respond.
