Missed Law DEAD ?s

A gift of personal property received through a will is a

bequest

Fundamental statements that serve as guides to management practice:

business policies

An addition or amendment to a last will in testament is executed with the same formality as the will

codicil

The election to void a contract is called

disaffirmation

One who organizes, controls, and assumes the risk for a successful business is the ___.

entrepreneur

Usury is a term which refers to

excess interest

A cost that for a given period of time and range of activity called the relevant range, does not change in total, but becomes progressively smaller on a per unit as volume increases:

fixed expenses

None of the 16 items required by the rule to be separately itemized on the GPL can be listed as "free" or "no charge". Items not required by the rule can be listed as:

free

Which of the following is a fee that a funeral home could charge?

insurance processing fee

When a person dies with a will and Probate approves the person in charge of settling the final affairs of the estate, the person receives

letters of testamentary

A contract in which two or more people individually agree to perform the same obligation is called a

several contract

A gathered type of casket interior made on a sewing machine with a multiple number of needles (usually 7 to 9) is called:

shirred

A family purchases a casket from a casket retailer. Where does the Handling Charge for use of that casket show on the Statement of Funeral Goods and Services Selected?

there may be no such fee charged, doesn't show on the SFGSS

When the duty of care that a motorist owes other motorists and pedestrians is breached and result in injury or damage to another, that motorist has committed a

tort

Generally, a minor is fully liable for his/her

torts

Exists when a seller requires the purchase of unwanted items/services in order to obtain the desired item/service.

tying arrangements

Which of these statements is correct according to the FTC Funeral Rule about setting the prices of required packages?

The FTC does not set the prices, that is the funeral home's responibility

A government document which defines the rights of its citizens and is the source of fundamental legal principles upon which other laws are based is:

a constitution

A proportional reduction of a legacy when the funds or assets out of which such legacy are payable are not sufficient to pay it in full is

abatement

Private investors who are willing to supply financing for new and/or risky small venture start-ups:

angel investors

Which of the following is an allied profession or service that a funeral director may need to work with?

organ donation

Mr. Greenjeans makes a will which states that his estate will be divided equally only among the children who are alive when he dies. This type of distribution is called ___.

per capita

With personal effects of a deceased in his possession, the ethical funeral director should NOT:

place them in a bag and leave them in the prep room