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FHM Unit 1

Terms in this set (17)

The main purpose of a disclosure is to:
make statements which reveal something as fact
The present funeral rule went into effect in
1984
All of the following are General Price List items, EXCEPT:
basic services
hearse
immediate burial
flowers
receiving of remains
flowers
The pricing method required by the FTC is:
unit
bi-unit
itemization
functional
mark up
itemization
A shopper visits the funeral home for price information, but does not wish to see a funeral director. May the funeral home require the shopper to see a funeral director in order to receive a GPL? y or no
No
During a removal, a family member asks the FD whether the funeral home offers cremation. Does this inquiry trigger the requirement to distribute the GPL? y or n
Yes
A consumer finds your webpage and decides he would like to do business with your funeral home. DO you have to email him your GPL in response to his e-mail inquiring about prices?
No
A funeral director making at-need funeral arrangements first asks the family about information for the obituary. Does the failure to distribute the FPL at the beginning of the arrangement conference violate the rule? Y or N
No
Any item obtained from a third party and paid for by the funeral provider on behalf of the consumer
cash advance
Magnuson-Moss Warranty Act
A federal statute that regulates written warranties on consumer products.
Magnuson-Moss Warranty Act governs warranties that are
express and implied
A funeral home may display warranty information in a binder clearly and conspicuously marked "warranties" Y or N
Yes
The Henderson Funeral home is a recognized creditor according to the Truth-In-Lending Act. They offered credit 25 times in 2004 and 24 times in 2005. Are they responsible for following the Truth-in-lending act for the year 2006 Y or N
No
Truth in Lending Act
An act which requires lenders to inform borrowers of all direct, indirect and true costs of credit.
Does a client family have to accept and retain a copy of the GPL? Y or N
No
Price disclosures are a preventative requirement according to the FTC. Y or N
Yes
To be considered a creditor according to Truth-In-Lending, a funeral home must collect payments in more than 6 installments. Y or N
No
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