Which price lists may be offered for retention?

Study for the AAMI New York State Laws Test. Utilize multiple choice questions, flashcards, and explanations to master each topic. Prepare for your success!

Multiple Choice

Which price lists may be offered for retention?

Explanation:
In this area, the focus is on what you’re allowed to keep on file. The General Price List is the official disclosure document you must provide to customers and, under the rules, you may offer to retain copies of the GPL for your records. This is the only price list you’re permitted to retain. Retaining copies of all price lists isn’t required or allowed, and keeping only the Casket Price List isn’t the rule either. Saying no price lists can be retained would miss the obligation to retain GPL copies. So the best practice is to offer copies of the General Price Lists for retention.

In this area, the focus is on what you’re allowed to keep on file. The General Price List is the official disclosure document you must provide to customers and, under the rules, you may offer to retain copies of the GPL for your records. This is the only price list you’re permitted to retain. Retaining copies of all price lists isn’t required or allowed, and keeping only the Casket Price List isn’t the rule either. Saying no price lists can be retained would miss the obligation to retain GPL copies. So the best practice is to offer copies of the General Price Lists for retention.

Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy