Elder Law Basics: Long Term Care Medicaid & Asset Protection Planning for Seniors: Check your understanding.
Now that you have viewed the course, you must complete this online quiz in test your knowledge. When you have completed the last question, click the “Finish Your Understanding and Feedback” button to submit your final answers. You may not return to review or change your answers after submitting or if you close the browser window. You may restart the quiz if needed.
Your quiz score will be displayed on your screen upon submitting your answers. A score of 70% (14 questions out 20 correct) is required to pass the quiz.
Your Understanding and Feedback Summary
0 of 10 questions completed
You have already completed the your understanding and feedback before. Hence you can not start it again.
Your Understanding and Feedback is loading…
You must sign in or sign up to start the your understanding and feedback.
You must first complete the following:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
1. Question1 point(s)
Elder law is a term coined to cover an area of legal practice that places an emphasis on those issues that affect the growing aging population. Which of the following is not one of the four major categories of elder law?
2. Question1 point(s)
A person is not eligible for Medicaid unless or until they have satisfied all three branches of a three-part test. Which of the following is not one of the three parts of the Medicaid eligibility test?
3. Question1 point(s)
Assets that are excluded per the “Married Couple Asset Rules” (spousal impoverishment rules), include the following, except:
4. Question1 point(s)
Crisis planning is for a senior who is currently receiving or eligible to receive long term care at home, in assisted living, or in a nursing home. A strategy for crisis planning includes strategically spending down the client’s assets after first splitting the assets 50/50 with the well spouse. The following are allowable spend-down options for the ill spouse’s assets once in crisis planning, except:
5. Question1 point(s)
The “Transfer Penalty Rules” include a five-year look back period, which means any transfers made within five years of applying for Medicaid must be disclosed and applied toward a penalty period calculation that delays the start of benefits. Permitted transfers that are not included in the calculation of the penalty period include transfers made to the following, except:
6. Question1 point(s)
Pre-planning includes setting up an irrevocable Asset Protection Trust during the grantor’s lifetime. In it the beneficiaries can be changed, the grantor appoints a trustee, the grantor chooses to whom principal and income is paid, etc. The following are what can happen after five years as the result of pre-planning with an Asset Protection Trust, except:
7. Question1 point(s)
Federal Spousal Impoverishment Rules are designed to prevent a “well” spouse from becoming poor, destitute, and impoverished. The following are true about Federal Impoverishment Rules, except:
8. Question1 point(s)
The following are benefits of transferring assets to an asset-protection trust versus gifting assets outright, except:
9. Question1 point(s)
The Veterans Affairs (VA) Pension is the VA’s Medicaid program. It also has a three-part test: military, medical and financial. To be eligible for veteran’s benefits, someone must have honorably served active military, naval, or air service during wartime, which means 90 days of continuous active duty with at least 1 day during a declared period of war. The service requirements for the military test include the following, except:
10. Question1 point(s)
The goals of asset protection planning first and foremost are to provide for the following, except: