CPG Record Keeping 4

Question 1

Which type of receipt is most important to obtain and retain when purchasing items for a ward?

Accepted Answer

An itemized receipt showing date, vendor, amount, and items purchased

Answer

Itemized receipts provide the granular detail needed to justify each expenditure during a court accounting review and demonstrate prudent management.

Question 2

A guardian who also serves as the ward's representative payee for Social Security must maintain records that satisfy:

Accepted Answer

Both Social Security Administration representative payee rules and state court accounting standards

Answer

When a guardian is also the representative payee, both SSA record-keeping rules and state court accounting standards apply simultaneously.

Question 3

If a ward's home is sold during guardianship, the guardian's records must include:

Accepted Answer

The court order authorizing the sale, the closing statement, and documentation of how proceeds were managed

Answer

Real property transactions require documented court authorization, a full closing statement, and clear tracking of how the proceeds were deposited and managed.

Question 4

A guardian notices that the ward's bank sends monthly statements. The guardian should:

Accepted Answer

Retain all original or verified digital copies of statements as part of the permanent case record

Answer

All bank statements must be retained in full as they constitute primary financial documentation supporting the guardian's accounting reports.

Question 5

What does the term 'petty cash fund' mean in the context of guardian record keeping?

Accepted Answer

A small, pre-set amount of cash maintained for minor incidental ward expenses, with each expenditure individually documented

Answer

A petty cash fund holds a limited amount of cash for minor expenses; every expenditure must be documented with a receipt or voucher and the fund periodically reconciled.

(CPG) Certified Professional Guardian Practice Test

(CPG) Certified Professional Guardian Practice Test

CPG Record Keeping 4