CFG Legal & Regulatory Issues in Elder Care 3

Question 1

Which type of trust allows an elder to retain assets while still qualifying for Medicaid long-term care benefits, used in some states?

Accepted Answer

Qualified Income Trust (Miller Trust)

Answer

A Qualified Income Trust (Miller Trust) is used in income-cap states to allow individuals with income exceeding Medicaid limits to still qualify.

Question 2

Elder financial abuse perpetrated by a family member or trusted person is legally classified as:

Accepted Answer

A form of elder abuse subject to criminal and civil penalties

Answer

Financial exploitation by family members or caregivers constitutes elder abuse under both state and federal law, carrying criminal and civil penalties.

Question 3

The 'community spouse resource allowance' (CSRA) under Medicaid protects assets for:

Accepted Answer

The spouse remaining at home

Answer

The CSRA allows the community (at-home) spouse to keep a portion of the couple's assets so they are not impoverished by the nursing home spouse's Medicaid spend-down.

Question 4

Which federal act prohibits age discrimination in employment for workers aged 40 and older?

Accepted Answer

Age Discrimination in Employment Act (ADEA)

Answer

The ADEA protects workers 40 and older from discrimination in hiring, promotion, pay, and other employment conditions.

Question 5

A guardianship proceeding removes which right from an incapacitated adult?

Accepted Answer

The legal right to make personal and/or financial decisions

Answer

Guardianship transfers decision-making authority from the incapacitated ward to a court-appointed guardian for personal and/or financial matters.

(CFG) Certified Financial Gerontologist Practice Test

(CFG) Certified Financial Gerontologist Practice Test

CFG Legal & Regulatory Issues in Elder Care 3