Financial Counseling Certification Program (FiCEP) Practice Exam

What assistance can financial counselors provide after a death?

1. Help members make a list of all debts and financial obligations

2. Provide emotional support and counseling

3. Negotiate with creditors directly

4. Locate lost assets of the deceased

The correct answer is: Help members make a list of all debts and financial obligations

The correct answer highlights a crucial role that financial counselors play in the aftermath of a death. After the loss of a loved one, individuals are often left dealing with various financial obligations that may feel overwhelming. Financial counselors can assist by helping members compile a comprehensive list of all debts and financial obligations. This process is vital as it allows the surviving family members to understand the deceased's financial situation clearly, ensuring they can address any outstanding debts properly and make informed decisions regarding the estate. The other choices, while related to the overall support and assistance needed after a death, do not specifically focus on the precise financial aspect of identifying and managing debts and obligations. Although providing emotional support and counseling is undoubtedly important, it falls outside the direct financial assistance offered by counselors in this context. Negotiating with creditors directly is often a task better suited for those who are designated executors or personal representatives of an estate, as they have the legal authority to engage with creditors. Locating lost assets of the deceased is also a significant task; however, it typically requires specialized skills or access to legal resources, rather than being a primary function of financial counselors.