Financial Counseling Certification Program (FiCEP) Practice Exam

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Prepare for the Financial Counseling Certification Exam. Use flashcards and multiple choice questions with hints and explanations to boost your readiness. Ace your certification!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is the primary goal of a credit union counseling and education program?

To increase credit union profits
To improve members' financial well-being
To sell additional credit union products
To ensure all members take loans

The correct answer is: To improve members' financial well-being

The primary goal of a credit union counseling and education program is to improve members' financial well-being. Credit unions are member-owned institutions that prioritize the financial health of their members. By focusing on counseling and education, these programs aim to empower members with the knowledge and skills necessary to manage their finances effectively, make informed decisions, and achieve financial stability. This approach aligns with the cooperative principles of credit unions, which emphasize member support and financial literacy. The ultimate aim is to enhance the overall financial literacy and satisfaction of members, leading to better financial outcomes and community welfare.