Question 1(3 points)

List some examples of exempt property underChapter 7of the federal bankruptcy law.

Question 2(3 points)

List some examples of debts that are not discharged under aChapter 7bankruptcy.

Question 3(3 points)

List some examples of priority debts under aChapter 13bankruptcy.

Question 4(3 points)

Describe the process used in aChapter 11bankruptcy.

Question 5(3 points)

Why is some property considered exempt underChapter 7of the federal bankruptcy law?

Question 6(2 points)

Why does the law require a debtor to receive individual or group credit counseling prior to be allowed to file for bankruptcy?

Question 7(2 points)

A Question of Ethics:Is it ethical for an individual to purchase numerous items on credit when he or she knows that bankruptcy is available as an option in the event of a default?