Question 1

In Chapter 11 only the debtor may propose plans of reorganization.

Accepted Answer

A) True 
 B)False

Question 2

A Chapter 7 debtor's agreement to pay a creditor on a debt after receiving a discharge in bankruptcy is called a:

Accepted Answer

A)  voidable preference.
B)  reaffirmation.
C)  fresh start.
D)  redemption.E) B) and C)
F) A) and D)

Question 3

Iris received a discharge under a Chapter 7 bankruptcy.She cannot receive another discharge under Chapter 7 for at least:

Accepted Answer

A)  six years after the prior filing.
B)  eight years after the prior filing.
C)  ten years after the prior discharge.
D)  She cannot file another Chapter 7,but could file a Chapter 11 or 13 bankruptcy.E) All of the above
F) B) and D)

Question 4

Which of the following actions would prevent a discharge of debts under Chapter 7?

Accepted Answer

A)  Discharge under Chapters 7 or 11 within the past eight years.
B)  Falsified records presented to bankruptcy court by debtor.
C)  Failure to disclose assets.
D)  All of the above would prevent a discharge of debts.E) None of the above
F) All of the above

Question 5

Chapter 13 bankruptcy:

Accepted Answer

A)  is used by businesses to reorganize their financial situations.
B)  is an involuntary bankruptcy.
C)  can be used only by individuals with a regular source of income.
D)  is used by businesses to liquidate their debts.E) A) and B)
F) A) and C)

Exam 24: Bankruptcy

Iris received a discharge under a Chapter 7 bankruptcy.She cannot receive another discharge under Chapter 7 for at least:

Correct Answer
verified

A Chapter 7 debtor's agreement to pay a creditor on a debt after receiving a discharge in bankruptcy is called a:

Correct Answer
verified

In Chapter 11 only the debtor may propose plans of reorganization.

Correct Answer
verified

Chapter 13 bankruptcy:

Correct Answer
verified

Which of the following actions would prevent a discharge of debts under Chapter 7?

Correct Answer
verified

Exam 24: Bankruptcy

Iris received a discharge under a Chapter 7 bankruptcy.She cannot receive another discharge under Chapter 7 for at least:

Correct AnswerverifiedShow Answer

A Chapter 7 debtor's agreement to pay a creditor on a debt after receiving a discharge in bankruptcy is called a:

Correct AnswerverifiedShow Answer

In Chapter 11 only the debtor may propose plans of reorganization.

Correct AnswerverifiedShow Answer

Chapter 13 bankruptcy:

Correct AnswerverifiedShow Answer

Which of the following actions would prevent a discharge of debts under Chapter 7?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified