Financial Counseling Certification || All Accurately Answered.
Spending Cycles correct answers 1) Earn - Spend- Earn: paycheck to paycheck
2) Earn-Spend-Borrow: rely on debt
3) Earn-Spend-Save: saving is the lowest priority
4) Earn-Save-Spend: pay themselves first, budgets first
Brain Hemispheres correct answers help members present info in different ways left hemisphere
specializes in analysis, logic, time, sequence; right hemisphere specializes in creativity, visual.
Hard and Soft Approaches correct answers hard approach: correlates with left analytical side.
straight forward aggressive
Soft approach: correlates with right creative side. humor, gentle, members have control.
Types of relationship with self-others correct answers There are 3 types:
1) Open: both know about it.
2) Blind : counselor knows, member does not.
3) Hidden: member knows, counselor does not know.
Chapter 2: Counseling Types correct answers There are 3 types:
1) Remedial Counseling: help members cope with debt they can afford.
2) Preventive counselling: good financial habits due to life changes.
3) Productive counselling: Identify the best way to use their resources.
Counseling Elements correct answers 1)Budget: financial instability
2) Credit: manage spending
3) Debt: structuring debt properly
4) Financial Planning: make the most of their income
,Vital Counselor Skills correct answers There are 17
1) Ask perceptive questions
2) Observe non verbal clues
3) Help members access behaviors and attitudes
4) Express empathy for members
5) Assist members to identify needs and wants
6) Explore money management skills
7) Assemble a complete financial plan
8) Develop a workable budget
9)Gain agreement on budget and money issues
10) Suggest workable approach and potential solution
11) Spending Plan
12) Combine realism
13) Access Progress
14) Confidentiality
15) Adjust Plans
16) Make Referrals
17) Offer guidance
The Change Process correct answers There are 4 steps in the change process:
1) Recognize need for change
2) Gather information and introduce new ideas
3) Revise the plan and integrate new info
4) Make changes part of everyday habits
, Pacing and Blending correct answers Pacing: to create a feeling of connection matching physical
posture and energy.
Blending: that matches patterns that match member's tone and vocabulary.
Decision-Making Tools correct answers There are 3 approaches to decision making.
1) Essential Obligations: needs of members need to be fulfil and work with non-essentials.
2) Force Filed: forces in favor or against the plan so a decision can be made.
3) Cost-benefits: weighting the costs and benefits of two possible solutions can help members
determine solutions.
Chapter 3- The Counseling Process correct answers The Counseling process helps counselors
follow logical process when working with members , and there are 6 steps:
1) Collect member's data
2) Establish clear financial goals and objectives
3) Analyze Data
4) Develop spending debt, repayment and action plans.
a) Spending Plan
b) Debt repayment plan
5) Implement Plan
6) Monitor, evaluate and adjust as needed
Spending Plan correct answers There are 5 elements in the spending plan:
1) List of all creditors
2) Obtain all income information
3) Verify accuracy of income and expenses
4) Review Cash Flow
5) Divide into monthly cycles
Spending Cycles correct answers 1) Earn - Spend- Earn: paycheck to paycheck
2) Earn-Spend-Borrow: rely on debt
3) Earn-Spend-Save: saving is the lowest priority
4) Earn-Save-Spend: pay themselves first, budgets first
Brain Hemispheres correct answers help members present info in different ways left hemisphere
specializes in analysis, logic, time, sequence; right hemisphere specializes in creativity, visual.
Hard and Soft Approaches correct answers hard approach: correlates with left analytical side.
straight forward aggressive
Soft approach: correlates with right creative side. humor, gentle, members have control.
Types of relationship with self-others correct answers There are 3 types:
1) Open: both know about it.
2) Blind : counselor knows, member does not.
3) Hidden: member knows, counselor does not know.
Chapter 2: Counseling Types correct answers There are 3 types:
1) Remedial Counseling: help members cope with debt they can afford.
2) Preventive counselling: good financial habits due to life changes.
3) Productive counselling: Identify the best way to use their resources.
Counseling Elements correct answers 1)Budget: financial instability
2) Credit: manage spending
3) Debt: structuring debt properly
4) Financial Planning: make the most of their income
,Vital Counselor Skills correct answers There are 17
1) Ask perceptive questions
2) Observe non verbal clues
3) Help members access behaviors and attitudes
4) Express empathy for members
5) Assist members to identify needs and wants
6) Explore money management skills
7) Assemble a complete financial plan
8) Develop a workable budget
9)Gain agreement on budget and money issues
10) Suggest workable approach and potential solution
11) Spending Plan
12) Combine realism
13) Access Progress
14) Confidentiality
15) Adjust Plans
16) Make Referrals
17) Offer guidance
The Change Process correct answers There are 4 steps in the change process:
1) Recognize need for change
2) Gather information and introduce new ideas
3) Revise the plan and integrate new info
4) Make changes part of everyday habits
, Pacing and Blending correct answers Pacing: to create a feeling of connection matching physical
posture and energy.
Blending: that matches patterns that match member's tone and vocabulary.
Decision-Making Tools correct answers There are 3 approaches to decision making.
1) Essential Obligations: needs of members need to be fulfil and work with non-essentials.
2) Force Filed: forces in favor or against the plan so a decision can be made.
3) Cost-benefits: weighting the costs and benefits of two possible solutions can help members
determine solutions.
Chapter 3- The Counseling Process correct answers The Counseling process helps counselors
follow logical process when working with members , and there are 6 steps:
1) Collect member's data
2) Establish clear financial goals and objectives
3) Analyze Data
4) Develop spending debt, repayment and action plans.
a) Spending Plan
b) Debt repayment plan
5) Implement Plan
6) Monitor, evaluate and adjust as needed
Spending Plan correct answers There are 5 elements in the spending plan:
1) List of all creditors
2) Obtain all income information
3) Verify accuracy of income and expenses
4) Review Cash Flow
5) Divide into monthly cycles
