Minnesota State Mortician Practice Exam

For how long should price lists be kept?

1. 1 year

2. 2 years

3. 3 years

4. 5 years

The correct answer is: 1 year

The correct duration for retaining price lists is informed by regulatory standards and best practices within funeral service. Price lists serve as essential documentation that reflects the costs associated with various funeral goods and services provided to clients. By retaining these lists for a minimum of one year, funeral homes ensure compliance with the Federal Trade Commission's Funeral Rule, which mandates transparency and provides consumers with the necessary information to make informed decisions. Keeping price lists for this duration allows funeral homes to address any potential inquiries or auditing processes that may arise after services are rendered. It also supports fair business practices, as the pricing must be consistent and verifiable over that time, particularly in addressing client disputes or questions regarding costs incurred. While some may argue for longer retention periods out of caution, the foundational rule is established at one year, which aligns with the typical business cycle and client interaction patterns in the industry.