LRR VA TEST QUESTIONS AND ANSWERS
10% of the funds can be retained by the contract provider when the contract is
funded by a _____account. - ANSWER trust
Contract providers, i.e. funeral homes, are required to keep on file a record of
all preneed contracts in ______________ OR _______________ order. -
ANSWER chronological; alphabetical
The record in the funeral home about the preneed contracts shall contain these 6
things: - ANSWER 1. name of the contract buyer
2. name of the contract beneficiary
3. date the contract was made
4. how the contract was funded, where the contract was funded and where the
funds are maintained
5. if funded through a trust account, whether or not up to 10 percent of funds are
retained by the contract provider
6. if funeral goods and supplies are stored for the contract buyer
If a contract provider that sells preneed discontinues its business operations, by
closure or by change in ownership, who must be notified in writing? (2 answers)
- ANSWER 1. The VA Board of Funeral Directors and Embalmers
2. each existing contract buyer
A closing firm must provide the Board with a _______________ at the time of
closure. (5 words) - ANSWER current list of preneed contracts
, If the ownership of a firm is changed, and the new firm _________ does/does
not intend to honor existing contracts, it shall notify its preneed contract buyers
within _______ days of the change in ownership by a publication of general
circulation. - ANSWER does; 90
If a firm changes ownership, and the new firm _________ (does/does not)
intend to honor existing contracts, it shall notify its preneed contract buyers
within _______ days of the change in ownership individually in writing. -
ANSWER does not; 90
A preneed contract needs to contain the following 4 things: - ANSWER 1. date
of the contract
2. whether or not the price of supplies and services purchased is guaranteed
3. the appointee agreement, if applicable
4. signatures of the contract seller and the contract buyer
If an _________________________ (2 words) has been signed, it shall be
attached to the preneed contract as a valid part of the contract. - ANSWER
appointee agreement
At the time of preneed inquiry, licensees must furnish to the prospective
consumer which two items? - ANSWER 1. a copy of the general price list
2. preneed disclosure questions and answers
Should the licensee be required to furnish the consumer an itemized statement
of goods and services at the time of need when the arrangements are made
through a preneed contract? (yes/no) - ANSWER yes
10% of the funds can be retained by the contract provider when the contract is
funded by a _____account. - ANSWER trust
Contract providers, i.e. funeral homes, are required to keep on file a record of
all preneed contracts in ______________ OR _______________ order. -
ANSWER chronological; alphabetical
The record in the funeral home about the preneed contracts shall contain these 6
things: - ANSWER 1. name of the contract buyer
2. name of the contract beneficiary
3. date the contract was made
4. how the contract was funded, where the contract was funded and where the
funds are maintained
5. if funded through a trust account, whether or not up to 10 percent of funds are
retained by the contract provider
6. if funeral goods and supplies are stored for the contract buyer
If a contract provider that sells preneed discontinues its business operations, by
closure or by change in ownership, who must be notified in writing? (2 answers)
- ANSWER 1. The VA Board of Funeral Directors and Embalmers
2. each existing contract buyer
A closing firm must provide the Board with a _______________ at the time of
closure. (5 words) - ANSWER current list of preneed contracts
, If the ownership of a firm is changed, and the new firm _________ does/does
not intend to honor existing contracts, it shall notify its preneed contract buyers
within _______ days of the change in ownership by a publication of general
circulation. - ANSWER does; 90
If a firm changes ownership, and the new firm _________ (does/does not)
intend to honor existing contracts, it shall notify its preneed contract buyers
within _______ days of the change in ownership individually in writing. -
ANSWER does not; 90
A preneed contract needs to contain the following 4 things: - ANSWER 1. date
of the contract
2. whether or not the price of supplies and services purchased is guaranteed
3. the appointee agreement, if applicable
4. signatures of the contract seller and the contract buyer
If an _________________________ (2 words) has been signed, it shall be
attached to the preneed contract as a valid part of the contract. - ANSWER
appointee agreement
At the time of preneed inquiry, licensees must furnish to the prospective
consumer which two items? - ANSWER 1. a copy of the general price list
2. preneed disclosure questions and answers
Should the licensee be required to furnish the consumer an itemized statement
of goods and services at the time of need when the arrangements are made
through a preneed contract? (yes/no) - ANSWER yes
