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In Regards to Record Keeping,the _________________ States:"Mental Health Counselors Create,maintain,store,transfer,and

question 16

Multiple Choice

In regards to record keeping,the _________________ states:"Mental health counselors create,maintain,store,transfer,and dispose of client records in ways that protect confidentiality and are in accordance with applicable regulations or laws."


Definitions:

Perpetuity

A financial instrument that pays a fixed amount of money indefinitely, with no end date.

Annually Compounded

A method of calculating interest where the interest is added to the principal sum once a year, resulting in interest on interest.

Fair Market Value

The price at which an asset would trade in a competitive auction setting, reflecting the true value as agreed upon by a willing buyer and seller.

RRSP

A Registered Retirement Savings Plan, a Canadian investment account for holding savings and investment assets, with certain tax advantages.

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