Question $1(0\mathrm{.}5$ points$)$

Under Chapter $13,$ after the completion of all payments under the plan, the court will grant a discharge of

Question $1$ options:

a$)$

all claims, whether or not provided for by the plan.

b$)$

only the obligations not provided for by the plan.

c$)$

all obligations that remain unsatisfied.

d$)$

only the debts provided for by the plan.

Question $2(0\mathrm{.}5$ points$)$

United Contractors Inc. holds a lien on Vista Estate's real property. This property can be sold to satisfy the debt if$,$ before the sale, notice is given to

Question $2$ options:

a$)$

the state in which the property is located.

b$)$

the general public.

c$)$

Vista Estate.

d$)$

Vista Estate's other creditors.

Question $3(0\mathrm{.}5$ points$)$

Under any chapter of the Bankruptcy Code, failing to file the necessary documents with the debtor's petition for relief can result in

Question $3$ options:

a$)$

the discharge of the debtor's obligations.

b$)$

an automatic stay.

c$)$

the dismissal of the petition.

d$)$

the distribution of the debtor's assets to his or her creditors.

Question $4(0\mathrm{.}5$ points$)$

A bankruptcy trustee must determine whether the debtor's financial situation warrants relief based on a comparison of the debtor's income with

Question $4$ options:

a$)$

the profit of the debtor's creditors.

b$)$

the income of other families in the same state.

c$)$

the wealth available to the debtor's peers.

d$)$

the debtor's expenses.

Question $5(0\mathrm{.}5$ points$)$

Credit Financing Inc. and Debt Lending Company hold security interests in property owned by Fleet Cartage Inc. Priority between these security interests is generally determined by

Question $5$ options:

a$)$

the amount of the claim.

b$)$

the float of the liens.

c$)$

the custom in the trade.

d$)$

the time of perfection or attachment.

Question $6(0\mathrm{.}5$ points$)$

Redevelopment Capital Inc. is the secured party in a secured transaction with Skyway Airport Corporation. Redevelopment Capital is also known as

Question $6$ options:

a$)$

the security interest.

b$)$

the debtor.

c$)$

the secured creditor.

d$)$

collateral.

Question $7(0\mathrm{.}5$ points$)$

For most collateral, possession by a secured party is impractical because it denies the debtor the right to use or derive income from the property to pay the debt.

Question $7$ options:

True

False

Question $8(0\mathrm{.}5$ points$)$

Capital Inc. holds a security interest in Discount Retail Company's inventory. The parties agree that the interest will continue in the collateral even if it is sold, exchanged, or disposed of in some other way. This is

Question $8$ options:

a$)$

a right to subrogation.

b$)$

a right of redemption.

c$)$

a purchase$-$money security interest.

d$)$

a floating lien.

Question $9(0\mathrm{.}5$ points$)$

Under Chapter $7,$ a discharge is most likely to be denied if the debtor

Question $9$ options:

a$)$

all of the choices.

b$)$

destroys records of the debtor's financial condition.

c$)$

conceals property to hinder or delay a creditor.

d$)$

fails to attend a required consumer education course.

Question $10(0\mathrm{.}5$ points$)$

All bankruptcy proceedings are conducted in federal bankruptcy courts.

Question $10$ options:

True

False