California Nursing Home Administrator License Practice Exam

When an assisted living facility provides safekeeping for a resident's money or property, which statement is correct?

1. a quarterly statement must be provided detailing income and expense records

2. a monthly statement must be provided when an ALF administrator or staff member serves as a resident's attorney in fact

3. within 30 days of receipt of advance rent or security deposit, the facility shall notify the resident in writing of how the ALF is holding advance rent or deposit

4. all of the choices apply and are correct

The correct answer is: all of the choices apply and are correct

When an assisted living facility manages a resident's money or property, it is crucial for transparency and accountability in financial dealings. All of the provided statements embody different aspects of the regulatory requirements that ensure the protection of residents' financial interests. The requirement for a quarterly statement detailing income and expense records is a standard practice that ensures residents are kept informed about the management of their funds. When an ALF administrator or staff member acts as the resident's attorney-in-fact, the necessity for monthly statements underscores the heightened accountability in those situations, as the resident may rely on that individual for financial decisions. Furthermore, the obligation to notify a resident in writing within 30 days of receipt of advance rent or a security deposit addresses the important issue of clarity and communication regarding their funds' handling. By recognizing that all these statements are correct, it reflects a comprehensive understanding of the regulations governing financial management in assisted living facilities. This ensures that facilities uphold their duty to protect residents’ assets while maintaining clear communication and detailed record-keeping practices, thereby promoting trust and fostering a sense of security among residents.