FICEP Study Guide 2026
Everything you need to pass the FICEP exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 FICEP Exam Format at a Glance
📚 FICEP Topics to Study (85)
✍️ Sample FICEP Questions & Answers
1. A client asks their financial counselor to handle their investment portfolio. The counselor is not licensed. What is ethical?
Counselors must refer clients to appropriately licensed professionals for services outside their scope of practice.
2. What is the difference between simple interest and compound interest?
Simple interest is calculated on the original principal only; compound interest includes previously earned interest, leading to accelerating growth.
3. Which behavior best reflects the ethical principle of veracity in financial counseling?
Veracity requires counselors to be truthful and transparent, even when the honest assessment may be unwelcome to the client.
4. Which of the following debts CANNOT be discharged in a Chapter 7 bankruptcy?
Federal student loans are generally non-dischargeable in bankruptcy unless the debtor proves undue hardship through an adversary proceeding.
5. Which type of insurance is designed to cover medical expenses?
Health insurance helps cover the cost of medical expenses such as doctor visits, hospital stays, and prescriptions.
6. A client has a credit card with a $5,000 limit and carries a $4,200 balance. What is their credit utilization ratio on this card?
Credit utilization is calculated by dividing the balance ($4,200) by the credit limit ($5,000), which equals 84%.