VA LRR – Preneed Exam Questions With 100% Correct Answers

VA LRR – Preneed Exam Questions With 100% Correct Answers 10% of funds may be retained by the contract provider when the contract is funded by a _____account. - answertrust Contract providers, i.e. funeral homes, must keep a listing of all preneed contracts in ______________ OR _______________ order. - answerchronological; alphabetical The funeral home's listing of preneed contracts shall include these 6 things: - answer1. 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. whether or not up to 10% of funds are retained by the contract provider, if funded through a trust account 6. whether 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) - answer1. 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) - answercurrent list of preneed contracts If a firm changes ownership, and the new firm _________ (does/does not) intend to honor existing contracts, it must notify its preneed contract buyers within _______ days of the change in ownership via a publication of general circulation. - answerdoes; 90 If a firm changes ownership, and the new firm _________ (does/does not) intend to honor existing contracts, it must notify its preneed contract buyers within _______ days of the change in ownership individually in writing. - answerdoes not; 90 A preneed contract needs to contain the following 4 things: - answer1. date of the contract