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FSE2080 Funeral Law Study Guide 3.3 questions with answers.
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FSE2080 Funeral Law Study Guide 3.3 questions with answers.
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FSE2080 Funeral Law Study Guide 3.3questions with answers
When is the annual cemetery renewal fee due? - ANSWERS✔✔ By December 31st of
each year.
Peaceful Rest Cemetery did $356,000 in gross sales this year. What is the renewal
fee for Peaceful Rest Cemetery? - ANSWERS✔✔ $905
GROSS SALES FEE REQUIRED
(sliding scale based on annual sales)
$Zero thru $ 24,999 ... $255.00
$25,000 thru $ 99,999 ... $355.00
$100,000 thru $ 249,999 ... $605.00
*$250,000 thru $ 499,999 ... $905.00*
$500,000 thru $ 749,999 ... $1,355.00
$750,000 thru $ 999,999 ... $2,255.00
$1,000,000 thru $4,999,999 ... $3,255.00
$5,000,000 and over ... $ 4,905.00
How much money must be deposited into the Care and Maintenance Trust Fund for
a grave space that costs $200? - ANSWERS✔✔ $25 (10% or $25, whichever is
higher)
(a) 10 percent and no less than $25 per grave space.
(b) 10 percent for mausoleum spaces
(c) 100 percent of general endowments to the cemetery
(d) The full amount of a special endowment, provided it is placed in a separate trust
account.
, How much money must be deposited into the Care and Maintenance Trust Fund for
a $600 grave space? - ANSWERS✔✔ $60 (10% or $25, whichever is higher)
(a) 10 percent and no less than $25 per grave space.
(b) 10 percent for mausoleum spaces
(c) 100 percent of general endowments to the cemetery
(d) The full amount of a special endowment, provided it is placed in a separate trust
account.
According to the State Board Website, what is the amount of the renewal fee for a
monument establishment? - ANSWERS✔✔ Establishment Builder = $705
Establishment Retailer = $255
Mrs. Jennifer George has left a generous endowment of $10,000 to Peaceful Rest
Cemetery. How much must be placed into the Care and Maintenance Trust Fund? -
ANSWERS✔✔ $10,000
- 100% of general endowments
- 100% of a special endowment, provided it is placed in a separate trust account. An
example would be if a family decided to put a large endowment toward the upkeep
of a family member's grave, that money could be used only for that grave, but it
would have to be placed in a separate trust.
Mr. and Mrs. Johnson purchased 2 grave spaces for $650 each on March 4th. By
when must the Cemetery company make the deposit into the Care and Maintenance
Trust Fund? - ANSWERS✔✔ By April 30th. This is *30 days from the end of the month
in which the spaces were purchased*.
On September 3, 2005, Peaceful Rest Cemetery sold the first space in the yet to be
constructed PR Mausoleum. The Mausoleum is to house 200 caskets. The 100th
space was sold on April 10, 2007. By which date must construction begin on the
new mausoleum? By what date must it be completed? - ANSWERS✔✔ It must
*begin* by September 3rd 2009, (*4 years after the sale of the first space or once
50% of the spaces have been sold* (whichever comes first) and be *completed* by
September 3, 2010 (*5 years after the sale of the first space*)
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