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VA LRR - Preneed 2024/2025 graded A+ by experts
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VA LRR - Preneed 2024/2025 graded A+ by experts
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VA LRR - Preneed10% of funds may be retained by the contract provider when the contract is funded by a
_____account. - ANStrust
Contract providers, i.e. funeral homes, must keep a listing of all preneed contracts in
______________ OR _______________ order. - ANSchronological; alphabetical
The funeral home's listing of preneed contracts shall include these 6 things: - ANS1. 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) - ANS1. 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)
- ANScurrent 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. - ANSdoes; 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. - ANSdoes not; 90
A preneed contract needs to contain the following 4 things: - ANS1. date of the contract
2. whether or not the price of supplies and services purchased is guaranteed
3. the appointee agreement, if applicable
4. signatures of the contract seller and the contract buyer
If a/an _________________________ (2 words) has been signed, it shall be attached to the
preneed contract as a valid part of the contract. - ANSappointee agreement
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