Ch 1-4
Financial Counseling is never?
a interactive
b spontaneous
c an answer to every problem
d suggestion solutions
What is C, an answer to every problem.
Which is a false statement regarding Force-Field Analysis?
a a method used to view all the forces in favor of or against a plan
b analysis begins with stating a problem
c a member lists only the forces preventing achievement
d the member decides who will do what, and when
What is c, a member lists only the forces preventing achievement.
Which communication approach represents a tactic used to show confirmation of information?
a summarizing
b restating or paraphrasing
c selective restatement
d imperative leads
What is b, restating or paraphrasing.
Which expenditure represents a form of secured debt?
a signature loan
b payday loan
c credit card
d car loan
What is d, car loan.
Which of these is not a debt management option?
a lifestyle adjustment
b debt settlement
c bankruptcy
d payday lenders
Providing financial education can have which of the following employee benefits?
a reduce absenteeism
b decrease productivity
c increase member loyalty
d decrease benefit enrollment
What is a, reduce absenteeism.
Weighing the costs and benefits of two possible solutions can help members determine what?
a how quickly a problem can be solved
b if a solution is workable and beneficial
c the final monetary cost of the situation
d if it is actually an issue
What is b, if a solution is workable and beneficial.
Which one of these is not a successful money management trait?
a plan
b budget
c invest
d give
What is d, give.
Which factor is included among the five c's of credit?
a currency
b capacity
c collaboration
d contingency
What is b, capacity.
What is the snowball approach to allocating payments among debts?
a opting out of deb card-based overdraft
b starts with smallest debts and gradually takes on larger amounts
c paying high-interest debts first
d application of low fees and interest to the member's original loan amount
What is b, starts with smallest debts and gradually takes on larger amounts.
Which is an essential counselor quality?
a being sympathetic
b telling members how to behave
c remaining nonjudgmental
d letting the members run the conversation
What is c, remaining nonjudgmental
Which extreme financial approach may lead to giving away what little money the member may have?
a money worship
b money status
c money avoidance
d money vigilance
What is c, money avoidance.
Which type of financial counseling includes helping members with good financial habits manage challenges due to life changes?
a productive
b preventative
c debt
d remedial
What is b, preventative.
Which financial literacy topic is appropriate to learn at the preschool age?
a minimizing risk
b investing
c borrowing
d wants vs needs
What is d, wants vs. needs.
When should the financial counselor consider suggesting debt settlement?
a there are escrowed funds
b the member needs pre-approved or guaranteed creditor settlements
c the accounts are already severely delinquent or in collections
d there is a need to block creditors from having the option to take legal action against the member
What is c, the accounts are already severely delinquent or in collections.
Which vital skill allows you to observe every aspect of a member's attempt at communication?
a being a good listener
b expressing empathy for members
c exploring money management skills
d observing nonverbal clues
What is d, observing nonverbal clues
Which term refers to communication patterns are so ingrained the response is automatic?
a patterned responses
b selective perception
c paralanguage
d preferences
What is a, patterned responses
During the financial counseling process, which task is included in the development of a spending plan?
a identifying short- and long-term steps a member will take to achieve selected goals
b using graphs to show why there is a need to make a change
c collecting financial information and creating a document reflecting the member's current practices
d helping the member break the budget into components that reflect the spending cycle
What is d, helping the member break the budget into components that reflect the spending cycle.
Which life stage may be an appropriate time for parents to create spending plans with children?
a preschool
b elementary school
c middle school
d high school
What is c, middle school.
Which of the following is something a good action plan achieves?
a allows the member to continue spending the way they have been
b makes it possible for members to address and solve specific financial problems
c provides a third-party release of information that outlines how data will be shared
d makes it possible to purchase more furniture
What is b, makes it possible for members to address and solve specific financial problems.
Which is an element that supports the motivation needed to make significant life changes?
a perception
b attitude
c confidence
d values
What is c, confidence
Which communication skill do counselors use to create a feeling of connection with a member by matching physical characteristics?
a blending
b pacing
c observing
d active listening
What is an item that members do not need to bring to the initial meeting?
a three recent pay stubs
b insurance policies
c passport
d outstanding bills
What is c, passport.
What is one type of savings one should have in a comprehensive spending plan?
a charity
b set-aside
c monthly
d paycheck to paycheck
What is b, set-aside.
Which of the following should not be asked during a follow-up meeting?
a is the plan working?
b are adjustments needed?
c which parts of the process were successful, and which failed?
d can you control your spending now?
What is d, can you control your spending now?