North Carolina Funeral Law Practice Exam

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Prepare for the North Carolina Funeral Law Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

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How many days does a financial institution have to refund the amount for a revocable preneed funeral contract after a request?

Ten days
Twenty days
Thirty days
Forty days

The correct answer is: Thirty days

In North Carolina, a financial institution is required to refund the amount for a revocable preneed funeral contract within thirty days after receiving a written request for such a refund. This rule ensures that consumers have a clear and defined timeline for receiving their funds when they decide to revoke their preneed contract, thereby protecting their financial interests and enhancing consumer confidence in managing preneed arrangements. The other options present shorter time frames which do not comply with the state regulations governing preneed funeral contracts. Understanding this thirty-day rule is critical for those involved in the funeral industry, as it aligns with the legal standards set forth in the North Carolina Funeral Law, ensuring that practitioners are equipped with accurate knowledge to support their clients effectively.