What is included in the Seller's Annual Report for all contracts?

Prepare for the Kentucky Embalmer and Funeral Director Law Exam. Study with a comprehensive collection of questions, hints, and detailed explanations. Get confident for your licensure test today!

The Seller's Annual Report for preneed contracts includes the total face value of the contracts sold within the reporting period. This information is crucial as it reflects the financial standing and obligations that the seller has incurred through sales to consumers. By reporting the total face value, the seller provides transparency regarding the volume of business conducted during the year, which is vital for regulatory oversight and consumer protection.

This report serves to ensure that the seller remains accountable for the contracts they have entered into, assisting in tracking potential payouts and liabilities associated with these contracts. In contrast, the other options do not pertain to the required contents of the Seller's Annual Report. Including only the name of the selling agent, details about new hires, or market trends focuses on aspects that are not directly related to the financial obligations of preneed contracts and thus are not elements that need to be reported in this specific document.

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