Ficep Final : Cuna Exam Review | Latest Questions And Answers

What is the likely outcome of making only the minimum payment on credit cards and other forms of debt? {Ans: It traps the borrower in an endless cycle of debt.}What happens to year-end balances "left over" in Section 125 plans or health savings accounts (HSAs)? {Ans: Section 125 balances are forfeited, while HSA balances are rolled over}You suspect your neighbor is a possible victim of self-neglect; you should contact... {Ans: Adult Protective Services}How can role-playing support financial changes within a family? {Ans: It prepares family members for situations where they must say "no" or take a different approach to restrain spending.}What is the impact of just one late car payment on a credit score? {Ans: It can drop the score by 98 points.}Select seven discounts offered by insurers for auto insurance policyholders. {Ans: Low-mileage driver (less than 100 miles/week), Insuring multiple vehicles with the same company, Policyholder with auto and home policies with the same company, Accident-free driver for more than three years, Driver who graduated from defensive driving course, Long-time customer, Driver over the age of 55}