CANADIAN LIFE CARE PLANNER updated
EXAM questions and CORRECT Answers
Clinical Objectives of Life Care Planning - CORRECT ANSWERS 1. Diminish and eliminate
physical/psychological pain and suffering
2. Reach and maintain the highest level of function possible in light of the individual's unique
circumstance
3. Prevent complications that an individuals' unique physical and mental conditions would
predispose them
4. Afford the individual the best quality of life possible
Punitive Damages - CORRECT ANSWERS Punish the tortfeasor. i.e. fining a company that
distributed a defective product
Compensatory Damages - CORRECT ANSWERS Meant to make the injured party whole again
3 types of damages we focus on - CORRECT ANSWERS 1. Medical Damages
2. Loss of earnings
3. Loss of household services
Personal Injury Landscape - CORRECT ANSWERS Defines the pathway to punitive or economic
damages
Reasonable degree of medical probability - CORRECT ANSWERS 51% or higher
What are we - CORRECT ANSWERS A nationwide provider or damages valuation services
Our mission - CORRECT ANSWERS To be the world's highest quality provider of damages
valuation services
Our motto - CORRECT ANSWERS Planning the future, defining a lifetime
, Our core values - CORRECT ANSWERS 1. Superlative expertise
2. Integrity
3. Problem solving
4. Commitment to excellence
5. Ownership
6. Customer centricity
Basic/non catastrophic plan cost - CORRECT ANSWERS $10,950
Catastrophic Life Care Plan cost - CORRECT ANSWERS $15,950
Counter-Party Life Care Plan Review Cost - CORRECT ANSWERS $750/hr with 8 hr minimum
Record Review w/o Narrative cost - CORRECT ANSWERS $750/hr with 5 hour minimum
Narratives, Updates, Amendments and Supplemental Assessments cost - CORRECT
ANSWERS $750/hr with 3 hour minimum
Present Value Assessment - CORRECT ANSWERS How much money does the subjects plan
require today, assuming he/she can earn a known rate of interest, to enable them to afford all the
medically related goods and services within their life care plan, at their future inflationary adjusted
values and within the periods of time they are forecasted to occur.
Opportunity Cost Method - CORRECT ANSWERS Attempts to value household work by asking
"What would a person be paid in wage labor for one hour of household work?"
Replacement Cost Method - CORRECT ANSWERS Valuing hours at the amount it would be
necessary to pay someone to do household work
Nominal value - CORRECT ANSWERS Present-day dollar amount. Doesn't account for inflation,
discounts, etc.
EXAM questions and CORRECT Answers
Clinical Objectives of Life Care Planning - CORRECT ANSWERS 1. Diminish and eliminate
physical/psychological pain and suffering
2. Reach and maintain the highest level of function possible in light of the individual's unique
circumstance
3. Prevent complications that an individuals' unique physical and mental conditions would
predispose them
4. Afford the individual the best quality of life possible
Punitive Damages - CORRECT ANSWERS Punish the tortfeasor. i.e. fining a company that
distributed a defective product
Compensatory Damages - CORRECT ANSWERS Meant to make the injured party whole again
3 types of damages we focus on - CORRECT ANSWERS 1. Medical Damages
2. Loss of earnings
3. Loss of household services
Personal Injury Landscape - CORRECT ANSWERS Defines the pathway to punitive or economic
damages
Reasonable degree of medical probability - CORRECT ANSWERS 51% or higher
What are we - CORRECT ANSWERS A nationwide provider or damages valuation services
Our mission - CORRECT ANSWERS To be the world's highest quality provider of damages
valuation services
Our motto - CORRECT ANSWERS Planning the future, defining a lifetime
, Our core values - CORRECT ANSWERS 1. Superlative expertise
2. Integrity
3. Problem solving
4. Commitment to excellence
5. Ownership
6. Customer centricity
Basic/non catastrophic plan cost - CORRECT ANSWERS $10,950
Catastrophic Life Care Plan cost - CORRECT ANSWERS $15,950
Counter-Party Life Care Plan Review Cost - CORRECT ANSWERS $750/hr with 8 hr minimum
Record Review w/o Narrative cost - CORRECT ANSWERS $750/hr with 5 hour minimum
Narratives, Updates, Amendments and Supplemental Assessments cost - CORRECT
ANSWERS $750/hr with 3 hour minimum
Present Value Assessment - CORRECT ANSWERS How much money does the subjects plan
require today, assuming he/she can earn a known rate of interest, to enable them to afford all the
medically related goods and services within their life care plan, at their future inflationary adjusted
values and within the periods of time they are forecasted to occur.
Opportunity Cost Method - CORRECT ANSWERS Attempts to value household work by asking
"What would a person be paid in wage labor for one hour of household work?"
Replacement Cost Method - CORRECT ANSWERS Valuing hours at the amount it would be
necessary to pay someone to do household work
Nominal value - CORRECT ANSWERS Present-day dollar amount. Doesn't account for inflation,
discounts, etc.
