Financial Counseling Certification Program (FiCEP) Practice Exam

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What is a common misconception about employee financial counseling?

It leads to more worker engagement
Employees use more sick days with counseling
It improves overall job satisfaction
It enhances financial literacy

The correct answer is: Employees use more sick days with counseling

A common misconception about employee financial counseling is that it leads to employees utilizing more sick days. This view assumes that seeking help for financial issues may result in increased stress or distraction, prompting employees to take time off work. However, research shows that financial counseling generally helps individuals manage their financial situations better, which can lead to reduced stress and, consequently, a lower likelihood of absenteeism. On the other hand, financial counseling typically results in positive outcomes such as improved worker engagement, increased job satisfaction, and enhanced financial literacy. Engaged and financially literate employees tend to perform better, experience greater job satisfaction, and have improved overall morale. Therefore, the notion that counseling increases sick days is a misconception that does not align with the actual benefits observed through financial wellness programs in organizations.