FSE2080 Funeral Law Study Questions and Correct Answers 3.4
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Course
FSE 2080
Institution
FSE 2080
On February 4, you wrote a $3000 prefunded funeral contract using the normal trusting methods. How much is do to the Preneed Funeral Contract Consumer Trust Fund by what date? $5.00 due 60 days after the calendar quarter in which it was received
You made preneed funeral arrangements with Todd Mark...
FSE2080 Funeral Law Study Questions
and Correct Answers 3.4
On February 4, you wrote a $3000 prefunded funeral contract using the normal trusting
methods. How much is do to the Preneed Funeral Contract Consumer Trust Fund by
what date? ✅$5.00 due 60 days after the calendar quarter in which it was received
You made preneed funeral arrangements with Todd Markus on December 15th. Mr.
Markus contracted for the following:
$1800 for a Casket;
$3500 for services at the funeral home;
$650 for cash advanced items;
$950 for a vault;
$500 Cemetery opening and closing (cash advance);
$800 for a 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? ✅-Services= 70% (3,500*.70)=2,450
-Merchandise= greater of 30% of retail or 110% of wholesale
(1800+950+428=3,178)(3,178*.30)=953
-Cash Advances= 100% (650+500+800)=1,950
1,950+953+2,450=5,353
within 30 days of the end of the calendar month in which they were received= Jan. 30
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 4. The total contract amount was
$6734.00. How much will she get back if she cancels the contract on May 30th? ✅The
consumer has the right to cancel the contract within 30 days of writing it and will receive
a full refund.
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