FSE2080 Funeral Law 3.4 Test Questions and Correct Answers
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Course
FSE 2080
Institution
FSE 2080
On February 4, you wrote a $3,000 prefunded funeral contract using the normal trusting methods. How much is due to the Preneed Funeral Contract Consumer Trust Fund by what date? A total of $5.00 is due by May 31st, which is 60 days after the calendar quarter in which the funds were originally recei...
FSE2080 Funeral Law 3.4 Test Questions
and Correct Answers
On February 4, you wrote a $3,000 prefunded funeral contract using the normal trusting
methods. How much is due to the Preneed Funeral Contract Consumer Trust Fund by
what date? ✅A total of $5.00 is due by May 31st, which is 60 days after the calendar
quarter in which the funds were originally received
You made pre-need funeral arrangements with Todd Markus on December 15th. Mr.
Markus contracted for the following:
$1,800 for a casket
$3,500 for services at the funeral home
$650 for Cash Advances
$950 for a vault
$500 for cemetery opening and closing (cash advance)
$800 for cemetery service charge (cash advance)
$428 on merchandise such as Register book, memorial folders, flowers from the funeral
home.
How much must be trusted and by what date must it be placed into the normal trust
account? ✅-The total for service came out to $3,500 x70%, which is what is required,
=$2,450
-The total for cash advance came out to $1,950 x100%, which is what is required,
=$1,950
--The total for merchandise came out to $3,178 x30%, which is what is required,
=$953.40
All this is due by January 30th, which is within 30 days of the end of the calendar month
in which the funds were received
List the establishments which can hold a valid preneed license ✅-funeral
establishment
-cemetery company
-direct disposal establishment
-monument establishment
Mrs. Thomas paid for a preneed contract on May 4th. The total contract amount was
$6,734.00. How much will she get back if she cancels the contract on May 30th? ✅The
full $6,734.00
When are the annual trust reports due? ✅On or before April 1st of each year
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