Please respond only if you plan to answer all 4 questions please, thank you:

23. As a financing statement is nearing expiration, it can be extended:

a. for another 3 years;

b. for another 5 years;

c. it can be extended indefinitely;

d. it cannot be extended.

25. A United States Bankruptcy Judge is appointed by the president, and if confirmed by the Senate, serves a lifetime term on the bench.

T F

26. Before a debtor can file for Bankruptcy, they must be insolvent, i.e., their liabilities must exceed the value of their assets.

T F

28. Pursuant to this section of the Bankruptcy Act, all collection efforts against the debtor must cease and desist upon the filing of the petition.

a. the cease and desist provision;

b. the automatic stay provision;

c. the good faith provision;

d. the avoidance provision.