Missouri State Nursing Home Administrator Practice Exam

How often must the facility provide a written statement regarding their personal money?

1. Monthly

2. Quarterly

3. Biannually

4. Annually

The correct answer is: Quarterly

The requirement for a facility to provide a written statement regarding residents' personal money on a quarterly basis is grounded in regulations that aim to ensure transparency and accountability in the management of residents’ financial resources. This frequency allows residents and their families to regularly monitor and review financial transactions, helping to prevent potential discrepancies or misuse of funds. By providing a statement every three months, the facility maintains a balance between frequent updates to keep residents informed and manageable reporting periods that do not overwhelm staff or residents. In addition, this practice supports the ethical obligation of the facility to safeguard the financial interests of residents, especially those who may be vulnerable due to age or health conditions. Regular updates foster trust between the facility and the residents, demonstrating a commitment to their well-being.