Ethics
Process goals are ultimately the responsibility of the Client, True or False.
False
Majel filed a bankruptcy petition and attended a court session. Prior to her bankruptcy being discharged, what action must she take?
Complete a Debtor Education class with 45 days
True or False - Relying on credit would be considered a bad financial habit?
True
When a consumer is having trouble keeping up with mortgage payments, and they negotiate an easier payment schedule with the lender, the arrangement is called a mortgage....
Workout
When counselor reiterate client message in their own words, they are
Paraphrasing
When a client ask you have you if you ever filed bankruptcy what should you do?
Answer briefly and honestly
Name 3 types of bankruptcy
Chapter 7
Chapter 13
Chapter 11
What category of information has the most influence on a FICO credit score
Payment History
Example of financial setbacks include all of the following except -
Job loss
Financial Literacy
Medical emergency
Financial Literacy
Which of the following is an effective listening technique?
Reacting personally to what is said
Multitasking
Listening for the total meaning
Listening for the total meaning
Something that a counselor does the encompasses the entire counseling process.
Rapport building
You told a client that they should file bankruptcy. What counselor rule have you broken?
Unauthorized practice of law
Name the five factors to a credit score.
Daily Double, and provide the percentage breakdown
Payment History 35%, Amounts Owed 30%, Length of credit history 15%, New Credit 10% and Types of credit 10%
What is the first step of the foreclosure process
Notice of Default
What are the three components of active listening
What you hear, what you say and what you do
What is it called when a counselor engage in a personal or business relationship outside of counseling.
Dual Relationship
Give me 3 reasons why a person would file Bankruptcy
Job loss or reduced income, medical expenses, Repo, Divorce or Separation, Overwhelming debt, car accident or foreclosure
Name an insolvency event that would cause your credit score to drop?
Job loss, Medical emergency or divorce
Bruce's car was just repossessed. It was valued at $15,000 and the lender sold it for $11,000, The deficiency balance that Anthony is responsible for is....
$4,000 plus expenses incurred during repossessed
What are you doing when you say these things.....
Mm-hum, Go on, Oh my, Really.....
Non-reflective listening
Respect for privacy is also know as....
Confidentiality! However Confidentiality does not apply when disclosure is necessary to prevent clear danger to the client or other.
How many years after filing a Chapter 13 can you file another one?
6 Years
Under the fair credit billing Act a consumer has _____ days after a receipt of a bill to dispute it in letter form, and the creditor has _____ days to respond with some explanation for the charges.
30/30
If you have missed several payments on your mortgage and have not made arrangement with the lender, you can receive a formal notice informing you the full amount of the mortgage is due immediately. This is referred to as a Notice of.......
Acceleration
According to the Myer-Briggs Type Indicator inventory, a person scoring a high in Perceiving (P) would be able to do what?
Understand without explanation