9.0 00) a b c d 72. What is the combined legal effect of attachment and registration of a security agreement at the Personal Property Security Registry? . seizure of the debtor's property . credit insurance becomes available . guarantee of priority over all other creditors d. perfection of the creditor's security interest 73. Why is the unencumbered status of assets considered to be a distinguishing characteristic? . They are typically worth more than the existing debt. . They are typically acquired after giving a security interest. . Lenders typically find them most attractive as security. . Lenders typically find their portability to be a risk. 74. Which statement best describes the unique feature of a guarantee? . It must be registered to be enforceable. . It must be in writing to be enforceable. . It survives bankruptcy. . It is prohibited in consumer credit contracts. 75, Which of the following would likely give a bank unlimited access to the debtor's assets as an unsecured creditor? . the floating charge debenture signed by the debtor . the creditor's seizure and sale notice requirements c. the contract of guarantee in favour of the credit d. the standard form credit agreement for a particular creditor 0.0 Um 0.0 Um 0.0 UQJ Which of the following is a characteristic ofa personal guarantee? . The guarantors cannot be compelled to sign to ensure the granting of a loan. . Guarantees are independently negotiated arrangements. . Common law permits creditors to change loan terms without the guarantor's consent. . Guarantees are one component of a larger credit arrangement. A lender has been fined, its licence has been suspended, and it is subject to an order by the regulator prohibiting further Violations. What may the complainant seek as additional remedies in these circumstances? . protection of the personal information the borrower was required to provide . time to shop for better terms and less restrictive lending conditions . a prohibition against misleading statements in ensuing credit reports . loan terms adjusted by a court and a claim for damages What is usually the first step for a business that is unable to cope with its financial obligations? a. assignment into bankruptcy b. consumer proposal c. an arrangement under the CCAA d. negotiated settlement 79. Which of the following best describes the purpose of bankruptcy and insolvency law? . to ensure that all stakeholders are treated fairly . a discharge for the unwillingness of creditors to pursue claims . to deal with creditors individually . to wind up businesses without expensive proceedings 80. What is a requirement in order to satisfy the definition of 'insolvent' for the purposes of the Bankruptcy and Insolvency Act? a. a failed proposal b. a failed arrangement c. debts to multiple creditors d. debts are greater than $1000