1. The debtor's property exemptions:

Group of answer choices

are limited to two choices or types of property from either the state or federal exemptions.

can be chosen from either the federal list of exemptions or the state.

do not provide a way for retaining equity in a mortgaged home.

are not allowed if the debtor did not list all claims.

2. The debtor will be denied a discharge if:

Group of answer choices

the debtor had been extravagant.

the debtor incurred debts because of negligence.

the debtor received a discharge ten (10) years previously.

the debtor refused to obey a lawful order of the court.

3. A blank indorsement turns order paper into bearer paper.

Group of answer choices

True

False

4. An order or promise to pay that is payable in money and securities is negotiable.

Group of answer choices

True

False

5. Any of the following constitutes a signature as an element of negotiability, except:

Group of answer choices

a.the use of initials.

b. a mark.

c. an ACH authorization.

d. the name of a corporation only.

6. All of the following are correct concerning stop payment orders, except:

Group of answer choices

a stop payment order may be issued if a payee has failed to perform under a contract.

a stop payment order does not prevent a holder in due course from demanding payment.

a stop payment order is invalid for some forms of checks.

a stop payment order must be in writing to be effective.