New Jersey Mortuary Science Practice Exam

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What is the implication of a non-guaranteed price agreement for funeral services?

The provider must provide services regardless of funds
The funds may not cover the complete cost of services at the time of death
It guarantees a lower cost than a guaranteed price agreement
The purchaser can change the terms at any time

The correct answer is: The funds may not cover the complete cost of services at the time of death

A non-guaranteed price agreement for funeral services indicates that the pricing is not fixed at the time the contract is signed. This means that while the agreement may outline certain services to be provided, it does not ensure that the funds set aside will cover the complete cost of those services when the time of need arises. Over time, costs associated with funeral services—such as those for caskets, embalming, and other necessary arrangements—can increase. Therefore, if an individual has a non-guaranteed price agreement, they may find that the total amount required for the funeral services at the time of death exceeds the funds they had previously planned on, leading to potential financial shortfalls. This financial aspect emphasizes the importance of understanding what a non-guaranteed agreement entails regarding cost coverage and future planning for funeral expenses.