1.

What is the list of all assets that a debtor is entitled to keep in bankruptcy?

Schedule of Income and Expenditures

Schedule of Assets and Liabilities

Statement of Financial Affairs

Claim of Exemptions

2.

Penelope buys a life insurance policy on her own life, under which she pays the annual premiums. The insurance is issued for a specific period, but is renewable for similar periods. Penelope is covered only as long as she makes the payments. There is no cash value portion to the policy. Penelope probably owns

an annuity.

term life insurance.

key-person life insurance.

whole life insurance.