QUESTION 1

1. No fees are charged by the Bankruptcy Court to file for Chapter 7 relief because bankruptcy protection is a Constitutional right.
2. True
3. False

2 points

QUESTION 2

1. Under the Bankruptcy Code the case trustee has very limited powers to avoid fraudulent transfers or to avoid pre-petition transfers under applicable state law.
2. True
3. False

2 points

QUESTION 3

1. If a consumer debtor's case is presumed an abuse under the means test, the debtor will have an opportunity to rebut or challenge that presumption.
2. True
3. False

2 points

QUESTION 4

1. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) raised the standard for dismissal in consumer cases from "substantial abuse" to "abuse."
2. True
3. False

2 points

QUESTION 5

1. Debtors must make extensive financial disclosures when they file for bankruptcy protection; however, a debtor's tax return is not required to be submitted to the trustee as it is viewed has confidential.
2. True
3. False

2 points

QUESTION 6

1. Venue for consumer debtors is the district where the debtor has lived in the longest during the 180 days prior to filing for bankruptcy relief.
2. True
3. False

2 points

QUESTION 7

1. The Bankruptcy Code starts off with the broad rule that everything owned by the debtor on the petition date is part of the bankruptcy estate, but there are exceptions to the broad rule in application.
2. True
3. False

2 points

QUESTION 8

1. Involuntary petitions are quite rare.
2. True
3. False

2 points

QUESTION 9

1. The discharge, which is effective upon filing a Chapter 7 case, is very broad and prohibits creditors from doing or continuing most kinds of collection activity against the debtor or the estate.
2. True
3. False

2 points

QUESTION 10

1. Only non-consumer may be dismissed for bad faith.
2. True
3. False

2 points

QUESTION 11

1. Chapter 7 petitions cannot be filed jointly by married individuals.
2. True
3. False

2 points

QUESTION 12

1. In many cases the case trustee determines the case is a no asset case and there is nothing to distribute to creditors.
2. True
3. False

2 points

QUESTION 13

1. The case trustee and the United States Trustee are one in the same.
2. True
3. False

2 points

QUESTION 14

1. A voluntary bankruptcy case is commenced by filing the official petition.
2. True
3. False

2 points

QUESTION 15

1. Preference law promotes the policy of equal distribution to similarly situated creditors in a case.
2. True
3. False