Financial Counseling Certification Program (FiCEP) Practice Exam

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A good action plan should include what component?

A budget summary
A list of staff members
A list of steps and timeline for completion
A list of financial products

The correct answer is: A list of steps and timeline for completion

A good action plan is fundamentally a strategic document that outlines steps necessary to achieve specific goals or objectives. Including a list of steps and a timeline for completion is essential because it provides a clear roadmap for implementation. This component helps to ensure that tasks are scheduled in a logical order, making it easier for individuals or teams to stay organized and focused on their goals. By detailing the specific actions required and the timeline for their execution, the action plan promotes accountability and helps to track progress effectively. While other elements like a budget summary, staff members, or financial products might be relevant in certain contexts, they do not serve the fundamental purpose of an action plan as clearly as a structured list of actionable steps paired with a timeline does. This focus on distinct actions and deadlines is what transforms a conceptual goal into a tangible process, enhancing the likelihood of successful implementation.