Finance Essentials

These questions will help learners develop an understanding of the financial terminology and concepts relating to residential aged care. This foundation knowledge will help them to provide general advice to potential clients and their families, and to know what they cannot discuss.

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By the end of this question set, learners will be able to:

• Recognise key legislative and financial terms and concepts to be able to answer and refer Residents financial questions.
• Recognise key concepts relating to specialist advice to reduce the risk of giving implied advice. Identify the characteristics of types of advice to guide conversations with Residents and families.

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1. Payment options
2. Support Types
3. Cost types
4. Means Testing
5. Work out RAC/DAC
6. Free advice
7. Implied Advice
8. Financial Advice
9. Refer for advice
10. ). Time for Choice
11. 1. Fee types
12. .. Giving Advice