ANSWER BY TRUE OR FALSE ONLY PLEASE

Question 1) Debts that remain after a Chapter 7 liquidation are not discharged, and the debtor retains his or her obligation to pay them.

True

False

Question 2 ) One of the Bankruptcy Code's main goals is to ensure preferential treatment of certain creditors who are competing for a debtor's assets.

True

False

Question 3) Bankruptcy relief is provided under states, not federal, law.

True

False

Question 4) In Chapter 11 proceedings, a debtor is allowed to continue in business.

True

False

Question 5) In a Chapter 13 bankruptcy, debtors retain most of their assets and agree to payments on their debts, most of which are discharged within three years.

True

False

Question 6) Any transaction in which debt payment is guaranteed by personal property is a secured transaction.

True

False

Question 7) A party who owes payment or performance of a secured obligation is a secured party.

True

False

Question 8) Attachment ensures that a security interest between a debtor and a secured party is effective.

True

False

Question 9) A secured party perfects a claim by filing a financing statement with the debtor.

True

False

Question 10) The regulations that administrative agencies issue make up the body of agency law.

True

False

Question 11) To create an administrative agency, the president issues an executive enabling order.

True

False

Question 12) Federal regulations do not take precedence over conflicting state regulations.

True

False

Question 13) The Administrative Procedure Act consists of guidelines that all federal agencies may ignore.

True

False

Question 14) The major function of an administrative agency is rule making.

True

False

Question 15) Final rules do not have binding legal effect until the courts confirm them.

True

False