Cwmc Module 10: Eldercare Competency Test

13 Questions | By Lfeinstitute | Updated: Mar 20, 2022 | Attempts: 37

Questions

Settings

This quiz is part of LFE Institute's CWMC (Certified Workplace Money Coaching) course. It will test your proficiency in the Eldercare Module (Module 10) of the program. The questions are all multiple choice, and are designed to be a review of this Module. Let LFE know when you've successfully completed this test and are ready to begin the next Module. Correct answers required for passing grade: 11/13

Questions and Answers

1.

Which of the following is NOT considered a Senior Housing alternative?
- A.
  
  Independent Living Community
- B.
  
  Assisted Living
- C.
  
  Continuing Care Retirement Community (CCRC)
- D.
  
  Fraternity House
- E.
  
  Skilled Nursing Facility
2.

Of the following options, which is NOT recommended for the needs of senior citizens?
- A.
  
  Investigate healthcare insurance providers
- B.
  
  Talk with an estate planner
- C.
  
  Look into an equity loan instead of a reverse mortgage for someone over 70
- D.
  
  Compare prescription drug programs
- E.
  
  Ask if shops, restaurants, hotels, etc. give senior discounts
3.

LTC typically refers to:
- A.
  
  Life Time Care
- B.
  
  Long Term Care
- C.
  
  Licensed Treatment Community
- D.
  
  Level Transitional Center
- E.
  
  None of the above
4.

Telemarketing scams cost seniors more than $40 billion every year. What tactics to these scammers use? (check all that apply)
- A.
  
  Frequent calls claiming to care or be concerned about those who live on their own while subtly stealing their identity
- B.
  
  Offering gifts or awards that are available only to seniors as part of a corporate marketing campaign
- C.
  
  Promoting free government-sponsored services that require bank account information
- D.
  
  Using fraudulent legal documents claiming that the senior is required to submit personal information to continue collecting Social Security or health benefits
5.

Which of the following questions should older adults ask concerning ERS (Emergency Response System) costs? (check all that apply)
- A.
  
  What is the up-front fee?
- B.
  
  What is the charge for repair if the unit breaks?
- C.
  
  How much is the monthly rate?
- D.
  
  Do I need a Living Will?
6.

Who is generally considered the "Sandwich Generation"?
- A.
  
  Generation X
- B.
  
  Millennials
- C.
  
  Baby Boomers
- D.
  
  Generation Why
- E.
  
  Traditionalists
7.

Which of the following can reduce costs for an aging parent? (check all that apply)
- A.
  
  Look for free transportation for seniors in their state
- B.
  
  Utilize library and senior centers for entertainment and activities
- C.
  
  See if "Meals on Wheels" is available in their area
- D.
  
  Find a retired nurse who wants to earn extra money by staying with the parent during the day instead of the parent using an assisted living facility
8.

Which of the following Web sites would you NOT recommend for eldercare issues? (check all that apply)
- A.
  
  Www.eldercare.gov
- B.
  
  Www.4Parents.gov
- C.
  
  Www.MySpace.com
- D.
  
  Www.AARP.org
- E.
  
  Www.FamilyCaregiving101.org
9.

The following elements are essential in a good Money Coaching response: (check all that apply)
- A.
  
  At least two valid Web sites
- B.
  
  Avoid using the same word too often
- C.
  
  Explanation of all financial terms
- D.
  
  Use of Cautions and Money-Saving Tips
10.

Which of these strategies do NOT help protect retirees' financial interests?
- A.
  
  Retail check cashing services
- B.
  
  Estate planning
- C.
  
  Retirement Medical Savings Accounts (RMSA)
- D.
  
  Understanding Trust verbiage and types: Investment, Revocable Living, or Family
11.

What is the current average annual cost of nursing home care in the U.S.?
- A.
  
  $20,000
- B.
  
  $40,000
- C.
  
  $75,000
- D.
  
  $100,000
- E.
  
  $140,000
12.

Which of these tax terms is NOT a reference to Social Security?
- A.
  
  Old Age, Survivors, and Disability Insurance
- B.
  
  FICA
- C.
  
  Value-Added Tax (VAT)
- D.
  
  Federal Insurance Contributions Act
- E.
  
  OASDI
13.

Since most of our clients are under 62, why are eldercare issues covered in CWMC? (check all that apply)
- A.
  
  Because eldercare issues affect so many employees
- B.
  
  More than 70 million Americans have questions on eldercare topics
- C.
  
  Employers know that many employees are dealing with eldercare issues
- D.
  
  Employees will have questions related to their own future retirement decisions
- E.
  
  None of the above