Financial Counseling Certification Program (FiCEP) Practice Exam

What is one action that might not be necessary when reviewing a credit report after elder abuse?

1. Checking for unauthorized accounts

2. Monitoring deposit accounts for suspicious activity

3. Examining loan entries for correctness

4. Confirming credit scores have not dropped

The correct answer is: Examining loan entries for correctness

When reviewing a credit report after elder abuse, examining loan entries for correctness might not be necessary. This is because the focus in cases of elder abuse typically lies on identifying fraudulent activities or unauthorized accounts that might have been opened or misused without the knowledge or consent of the elder. In scenarios involving elder abuse, the priority generally centers on protecting the individual from further harm and addressing any immediate financial threats. Actions like checking for unauthorized accounts and monitoring deposit accounts for suspicious activity are vital for ensuring that the elder's financial resources are secure and that no additional abuse is occurring. Confirming credit scores have not dropped can also be important, as a sudden drop might indicate fraudulent activities affecting the individual's financial standing. In contrast, while examining loan entries for correctness is still relevant to credit management, it may not be the most pressing action immediately following a report of elder abuse. The urgency is more about identifying and rectifying unauthorized actions rather than reviewing the details of existing loans, which may not hold the same immediate relevance in safeguarding the elder's finances post-abuse.