A) It will likely be disallowed because the federal limit for an exemption for a residence is $10,000.
B) It will likely be disallowed because the federal limit for an exemption for a residence is $5,000.
C) The status of the exemption is unclear without further information regarding the resale value of the home.
D) It will likely be allowed because the value claimed is within the federal exemption allowed.
E) It will likely be allowed because although it is more than the federal exemption,no creditor filed an objection to it.
G) C) and D)
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A) The personal goods only.
B) The nonexempt assets only.
C) The exempt assets only.
D) The real estate only.
E) All her prepetition assets.
G) All of the above
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B) False
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A) 9
B) 15
C) 11
D) 7
E) 13
G) B) and C)
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A) Individuals may receive a discharge,but partnerships and corporations may not.
B) Partnerships and individuals may receive a discharge,but corporations may not.
C) Corporations may receive a discharge,but individuals and partnerships may not.
D) Individuals,partnerships,and corporations may all receive a discharge.
E) Corporations and individuals may receive a discharge,but partnerships may not.
G) None of the above
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A) The plan is not required to provide for full payment of all claims.
B) The plan must provide for full payment of all claims.
C) If the court approves of the repayment plan,it is accepted.
D) The plan is required to treat all same-class creditors equally.
E) Creditors do not vote to approve a chapter 13 repayment plan.
G) A) and C)
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A) The status of the exemption is unclear without further information regarding beneficiaries of the IRA.
B) She will be able to claim that exemption but only up to $25,000.
C) She will be able to claim that exemption but only up to $50,000.
D) She will not be able to claim that exemption.
E) She will be able to claim that exemption.
G) A) and D)
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B) False
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A) Title 9
B) Title 15
C) Title 11
D) Title 34
E) Title 7
G) B) and E)
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A) The court may award punitive damages,but not attorney costs or fees of the debtor.
B) The judge may dismiss the involuntary bankruptcy petition,but no other relief is available.
C) The court may award attorney costs and fees of the debtor,but not punitive damages.
D) The court may award attorney costs,fees of the debtor,and punitive damages.
E) The court may award fees of the debtor,but not attorney costs or punitive damages.
G) A) and B)
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A) Chapter 9
B) Chapter 11
C) Chapter 7
D) Chapter 13
E) Chapter 15
G) B) and E)
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B) False
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B) False
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A) Efforts to collect on past due alimony payments accrued only after the filing of the bankruptcy petition are stayed,but efforts to collect on alimony payments accrued before the filing of the bankruptcy petition are not stayed;and alimony payments are nondischargeable.
B) Any effort to collect on the past due alimony are stayed by the bankruptcy proceeding,but alimony payments are nondischargeable.
C) Efforts to collect on past due alimony payments accrued prior to the filing of the bankruptcy petition are stayed,but efforts to collect on alimony payments accruing after the filing of the bankruptcy petition are not stayed;and alimony payments are nondischargeable.
D) Legal action to collect alimony is not subject to an automatic stay,and alimony payments are nondischargeable.
E) Any efforts to collect on the past due alimony are stayed by the bankruptcy proceeding,and the claim for alimony is subject to discharge.
G) A) and C)
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A) 60
B) 90
C) 30
D) 45
E) 120
G) B) and D)
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B) False
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The following behavi...View Answer
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A) Nondischargeable debts include claims for back taxes or government fines within four years of filing for bankruptcy.
B) Nondischargeable debts include debts not discharged in previous bankruptcies.
C) Nondischargeable debts include specific student loans,unless payment of the loans imposes undue hardship on the debtor.
D) Nondischargeable debts include claims of willful or malicious conduct by the debtor that caused injury to another person or property.
E) Nondischargeable debts include judgments against a debtor for claims resulting from the debtor's drinking and driving.
G) B) and E)
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A) Involuntary
B) Complaint
C) Dispute
D) Voluntary
E) Accusatory
G) A) and C)
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A) Only federal statutory law is relevant.
B) Only federal common law is relevant to bankruptcy claims.
C) Only state statutory law is relevant.
D) While bankruptcy law is state law,federal law applies to bankruptcy cases in the sense that federal laws regarding debtor's property and creditor claims may apply.
E) While bankruptcy law is federal law,state law applies to bankruptcy cases in the sense that state laws regarding debtor's property and creditor claims may apply.
G) B) and E)
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