Multiple Choice Questions

1. In multiple filing schemes, which of these is the method fraudsters typically use to file bankruptcy petitions?

a. Using multiple identities in individual states.

b. Using individual identities in individual states.

c. Using individual identities in individual states.

d. None of these.

2. Which chapter of the bankruptcy code applies mainly to businesses and focuses on working out creditor payment plans without requiring the debtor to liquidate?

a. 7.

b. 9.

c. 11.

d. 13.

3. Which chapter of the bankruptcy code is designed to completely liquidate the debtor’s assets?

a. 7.

b. 9.

c. 11.

d. 13.

4. Under the bankruptcy laws, which of these normally applies to individuals with substantial income?

a. Have all of their debts discharged.

b. Have all of their debts discharged except for those debts never dischargeable under bankruptcy law.

c. File under Chapter 15.

d. None of these.

5. Who administers bankruptcy proceedings?

a. The clerk of the federal court in which the bankruptcy is filed.

b. A Department of Justice trustee.

c. An independent trustee appointed by the presiding judge.

d. None of these.