FiCEP Counseling Ethics and Behaviors 3

Question 1

A financial counselor's friend asks for services at a reduced rate. What ethical concern does this raise?

Accepted Answer

Dual relationships can compromise objectivity and professional boundaries

Answer

Reduced rates are always unethical

Answer

Friends should never receive counseling

Answer

The concern is only financial, not ethical

Question 2

Under what circumstances is it ethical to break client confidentiality?

Accepted Answer

When there is a legal obligation such as court order or mandatory reporting

Answer

When the client's family requests information

Answer

When sharing would help the client's relationships

Answer

When the client's employer asks

Question 3

What is informed consent in the context of financial counseling?

Accepted Answer

The client's understanding and voluntary agreement to the counseling process including its scope and limits

Answer

The client's agreement to follow all counselor recommendations

Answer

A legal waiver releasing the counselor from liability

Answer

Permission to access the client's bank accounts

Question 4

Which ethical principle is violated when a counselor uses jargon to confuse clients into accepting unnecessary services?

Accepted Answer

Nonmaleficence

Answer

Competence

Answer

Justice

Answer

All of the above

Question 5

A counselor notices signs of potential elder financial abuse. What is the appropriate ethical response?

Accepted Answer

Follow mandatory reporting procedures if required by state law

Answer

Discuss it with the client's family members

Answer

Ignore it as outside the scope of counseling

Answer

Confront the suspected abuser directly

Question 6

What responsibility does a financial counselor have regarding continuing education?

Accepted Answer

An ethical obligation to maintain current knowledge through ongoing professional development

Answer

None once initial certification is obtained

Answer

Only if required by their employer

Answer

Only when new laws are passed