LRR-MO Missouri Laws, Rules &
Regulations Exam for Funeral Service
Industry Questions Fully Solved.
Basic Requirements of Contracts for Pre-Need - Answer New Times Roman 8pt
Sequentially Numbered
Notice that canceling preneed doesn't cancel insurance policy
Is it revocable/non-revocable, guaranteed/non-guaranteed
consumer disclosures
Trust Funded Contracts for Pre-Need - Answer 60 days to deposit all $ received
5% origination fee, 10% additional fee - within 15 days Trustee shall make payment
Joint- Account for Pre-Need - Answer 10 days to deposit all $ received
Cannot invest if no gain to income, NO loans
15 days for bank $ after certificate of performance recieved
Seller Cancels for Default (Pre-Need) - Answer Purchaser behind 60 days, give 30 days to cure
If no cure by purchaser, either continue w/ credit as non guaranteed or 85% of payments made
Sale of Assets/ Out of Business - Answer 60 days to give notice to the Board
Federal Rule For Pre-Need - Answer 3 Days full refund IF signed in consumers place of
residence.
Consumer cancels at any time ( can't cancel irrevocable) Pre-Need - Answer All payments less
5% origination fee (No interest)
consumer gets back 10% fee
Embalmers must intern for ___
Embalmers must embalm ___ bodies - Answer 12 months ( Full time =30hours)
, Seller to pay provider Trust - Answer 60 Days after receiving certificate of performance
Seller deposit Trust money - Answer 60 Days
Seller deposit Joint Account money - Answer 10 Days
Seller to take steps to get $$ on joint account from bank - Answer 15 days after certificate of
performance
Seller pays provider joint account - Answer 10 Days from receipt of money from bank
Forward money to insurance company - Answer 30 Days
Purchaser cancels joint account - Answer Bank pays within 15 days after written notice
Purchaser cancels trust - Answer Trustee pays within 15 days after written notice
Funeral Directors must serve ---
and work_____
arrange & conduct ___funerals - Answer 12 months apprenticeship
15 hours per week
10 funerals
Transfer to new provider - Answer 1. non-trust: all payments owed to original provider
(may/may not include interest
2.If Trust: either cont. trust with new provider of give new provider the trust property including
interest( but not fees-up to 15%- if withdrawn)
Preneed contract invalid - Answer All payments made by consumer(including any fees) no
interest
Beneficiary dies early on installment - Answer Either pay-up full amount or credited with
amount paid on nonguaranteed basis
Regulations Exam for Funeral Service
Industry Questions Fully Solved.
Basic Requirements of Contracts for Pre-Need - Answer New Times Roman 8pt
Sequentially Numbered
Notice that canceling preneed doesn't cancel insurance policy
Is it revocable/non-revocable, guaranteed/non-guaranteed
consumer disclosures
Trust Funded Contracts for Pre-Need - Answer 60 days to deposit all $ received
5% origination fee, 10% additional fee - within 15 days Trustee shall make payment
Joint- Account for Pre-Need - Answer 10 days to deposit all $ received
Cannot invest if no gain to income, NO loans
15 days for bank $ after certificate of performance recieved
Seller Cancels for Default (Pre-Need) - Answer Purchaser behind 60 days, give 30 days to cure
If no cure by purchaser, either continue w/ credit as non guaranteed or 85% of payments made
Sale of Assets/ Out of Business - Answer 60 days to give notice to the Board
Federal Rule For Pre-Need - Answer 3 Days full refund IF signed in consumers place of
residence.
Consumer cancels at any time ( can't cancel irrevocable) Pre-Need - Answer All payments less
5% origination fee (No interest)
consumer gets back 10% fee
Embalmers must intern for ___
Embalmers must embalm ___ bodies - Answer 12 months ( Full time =30hours)
, Seller to pay provider Trust - Answer 60 Days after receiving certificate of performance
Seller deposit Trust money - Answer 60 Days
Seller deposit Joint Account money - Answer 10 Days
Seller to take steps to get $$ on joint account from bank - Answer 15 days after certificate of
performance
Seller pays provider joint account - Answer 10 Days from receipt of money from bank
Forward money to insurance company - Answer 30 Days
Purchaser cancels joint account - Answer Bank pays within 15 days after written notice
Purchaser cancels trust - Answer Trustee pays within 15 days after written notice
Funeral Directors must serve ---
and work_____
arrange & conduct ___funerals - Answer 12 months apprenticeship
15 hours per week
10 funerals
Transfer to new provider - Answer 1. non-trust: all payments owed to original provider
(may/may not include interest
2.If Trust: either cont. trust with new provider of give new provider the trust property including
interest( but not fees-up to 15%- if withdrawn)
Preneed contract invalid - Answer All payments made by consumer(including any fees) no
interest
Beneficiary dies early on installment - Answer Either pay-up full amount or credited with
amount paid on nonguaranteed basis
