QUESTION 1

1. Which of the following is not a social or economic justification for consumer bankruptcy?

   		bankruptcy can serve as consumption insurance
   		bankruptcy can serve as the ultimate social safety net
   		an effective bankruptcy system enhances economic growth
   		without bankruptcy the ability for an individual to work and maximize income potential will be hamptered
   		All of the above are social and economic justifications for consumer bankruptcy

QUESTION 2

1. The Small Business Reorganization Act of 2019 will permit owners of a business to retain their ownership interests if they comply with the "fair and equitable" requirement of the new law.

   True

   False

QUESTION 3

1. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 achieved the following:

   		it added significant consumer protections that have benefited individual debtors.
   		it shifted bankruptcy policy under the Bankruptcy Code away from favoring the creditor and toward the debtor, enhancing the debtor's fresh start.
   		reduced the costs associated with filing for consumer bankruptcy.
   		made it more difficult for honest consumers to obtain relief under the Bankruptcy Code.
   		None of the above.

QUESTION 4

1. Which ethical theory does the following statement fall under: "Do the ends justify the means?"

   		virtue ethics
   		consequentialism
   		deontology
   		stigma

QUESTION 5

1. Which of the following is not a source of bankruptcy law?

   		Bankruptcy Code
   		Caselaw
   		Federal Rules of Bankruptcy Procedure
   		Article III, Section 9, of the United States Constitution.
   		None of the above because all are sources of bankruptcy law.

QUESTION 6

1. When the government decides to do or not do something, that is referred to as

   		statutory law.
   		Constitutional law.
   		none of the above.
   		common law.