1.Which of the following is the order in which proceeds from a foreclosure sale will be applied?

a. The unpaid debt; expenses of the secured party to repossess and sell the property; inferior security interests; the debtor.

b. The unpaid debt; inferior security interests; expenses of the secured party to repossess and sell the property; the debtor.

c. Expenses of the secured party to repossess and sell the property; the unpaid debt; inferior security interests; the debtor.

d. Expenses of the secured party to repossess and sell the property; inferior security interests; the unpaid debt; the debtor.

2.A forced sale of a defaulting debtor's property at the insistence of the creditor is a ______.

a. Liquidation sale

b. Foreclosure

c. Hostile takeover

d. Declaratory judgment proceeding