1) Which of the following is true of a guarantor in a guaranty arrangement?

A.The guarantor is secondarily liable on the debt.

B.The guarantor must pay the debt even if the principal debtor is not in default.

C.The creditor can first seek legal remedy from the guarantor.

D.The guarantor has full legal rights to possession of the real property in this type of arrangement.

2) Which of the following is the goal of Chapter 11?

A.equitable distribution of the bankruptcy estate to all creditors

B.strict distribution of the bankruptcy estate according to the statutorily-prescribed order of distribution to creditors

C.discharge of the debtor's unsecured debts and payment of secured debts

D.a proposed new capital structure for the debtor to assume when it emerges from bankruptcy