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

Dual relationships can compromise the counselor's objectivity and the client's comfort with full disclosure.

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

Confidentiality may only be broken when legally required, such as by court order, mandatory reporting, or to prevent imminent harm.

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

Informed consent means the client fully understands and voluntarily agrees to the counseling relationship.

Question 4

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

Accepted Answer

Nonmaleficence

Answer

Nonmaleficence, the obligation to do no harm, is violated when a counselor deliberately uses jargon to manipulate clients.

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

Financial counselors should follow their state's mandatory reporting requirements for suspected elder abuse.

FiCEP - Financial Counseling Certification Program Practice Test