Mortuary Science Practice Exam

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Prepare for the Mortuary Science Test. Study with flashcards and multiple choice questions, each with hints and explanations. Get ready for your mortuary science certification exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Who has the authority to choose the escrow agent for a non-guaranteed price contract?

Only the contract seller
Only the provider
Either the contract seller or provider
Both parties must agree

The correct answer is: Either the contract seller or provider

In a non-guaranteed price contract, either the contract seller or the provider can select the escrow agent. This flexibility is important because the escrow agent plays a critical role in managing the funds related to the contract. By allowing either party to choose the agent, it fosters a collaborative relationship and ensures that both parties feel secure in the handling of the funds related to their contract, as long as they trust the selected agent. This option reflects a balance of authority and responsibility, enhancing the relationship between the parties involved. It's also pivotal for maintaining transparency and accountability throughout the contract process. The ability to choose ensures that the agent is someone who is mutually acceptable to both parties and can effectively manage the arrangement as outlined in the contract terms.