Funeral Pre-arrangement Exam Questions and Answers

Funeral Pre-arrangement Exam Questions and Answers A funeral prearrangement life insurance agent must be supervised by: -Answer-None of the above What is the maximum initial guaranteed death benefit that a funeral prearrangement life insurance may sell? -Answer-$25,000 When an application for an insurance license is denied, EXCEPT for failure to pass the examination, the applicant MAY NOT REAPPLY FOR AT LEAST: -Answer-60 Months An agent's insurance license could be suspended or revoked if the agent: -Answer-Fails to remit premiums Which of these documents must be offered at the beginning of a sales presentation for funeral goods and services? -Answer-The general price list A funeral prearrangement life insurance agent license will expire when the agent: -Answer-Fails to submit a renewal form and fee at the end of each two year renewal period Which statement is true about the general price list (GPL) for funeral goods and services being offered? -Answer-The GPL must be given to the consumer to keep the general price list must include all of the following except: -Answer-the seller's permit number (the funeral provider's name and address, the effective date of the list, the exact caption of "General Price List") the required disclosures for the general price list: -Answer-must use identical wording given in the FTC funeral rule as part of a prearranged funeral sale, the seller must disclose that: -Answer-embalming is optional when the burial is immediate a general price list must disclose: -Answer-the availability of alternative containers for cremation the general price list: -Answer-must price each item or service separately which item on a funeral provider's general price list cannot be declined by the purchaser? - Answer-basic services of the funeral director the FTC funeral rule prohibits funeral providers from: -Answer-requiring the purchase of a casket for direct cremation how long must a funeral provider keep a copy of a price list on file after its last distribution to a consumer? -Answer-1 year prepaid funeral benefits contract forms must be approved by: -Answer-the texas department of banking after an insurance-funded prepaid funeral benefits contract has been signed, a copy must be provided to the purchaser within: -Answer-30 days premiums collected for insurance policies funding prepaid funeral benefits must be remitted to the insurance company within: -Answer-30 days for which action may a contract seller's permit be cancelled? -Answer-failing to provide premium remittance evidence requested by the banking department which item is correct regarding the federal waiver of cancellation form? -Answer-it is not needed when the prearrangement contract is purchased at the funeral home at the time of the sale of a funeral prearrangement contract, the purchaser should be given: - Answer-the "facts about funerals" pamphlet from the texas funeral service commission selling a funeral prearrangement contract to a person who cannot afford it can result often in: - Answer-all of the above (lapse of the contract for non-payment, loss of income to the agent, loss of business to the funeral home) which item is most correct regarding misrepresentation of the proposed insured's health? - Answer-the insurance company may contest a claim because of the misrepresentation during the policy's first two years the purchaser of a prepaid funeral benefits contract may be given the option to irrevocably waive -Answer-the purchasers right to cancel the contract failure to describe fully the goods and materials on the contract may result in -Answer-all of the above (harm to the agent's relationship w the funeral home, return of the contract for the correction and resubmission, stress and confusion for the customers family at the time of funeral) in insurance, under the law of agency -Answer-