Chapter 2 Test
Question 1
5 / 5 points
Although the Constitution granted Congress the power to enact legislation in the area of bankruptcy, states may also have their
own bankruptcy laws, especially in those areas where Congress has not acted.
A) True
B) False
Question 2
0 / 5 points
As a result of the adoption of BAPCPA, most Bankruptcy Courts have adopted as Local Rules certain Interim Bankruptcy Rules.
A) True
B) False
Question 3
0 / 5 points
Bankrupt is the term used to describe the person or entity who is the subject of a bankruptcy case.
A) True
B) False
Question 4
Indicate all the correct answers for each question.
0 / 5 points
States may __________.
Enact bankdruptcy legislation if Congress has not acted
Enact bankruptcy legislation in Congress has not acted on the specific topic
Enact bankruptcy legislation even if Congress has acted and thus give residents in that state a choice between
federal and state bankruptcy
Not enact bankruptcy legislation beacause the United States Constitution has preempted the field for Congress
Question 5
In which chapter of the Bankruptcy Code is each of the following sections found?
Section 1112
________
0 / 5 points
(Chapter 11)
Section 101
________
(Chapter 1)
Section 707
________
(Chapter 7)
Section 503
________
(Chapter 5)
Question 6
0 / 8 points
Match the items in the first column with those in the second column by placing the letter of the item in the first column with the
correct match in the second column.
_____ (7)
Adjustment of Debts of a Family Farmer or Family
Fisherman with Regular Annual Income
1. General Provisions
_____ (2) Case Administration
2. Case Administration
_____ (2) Case Administration
3. Creditors, the Debtor, and the Estate
_____ (6) Reorganization
4. Liquidation
_____ (5) Adjustment of Debts of a Municipality
5. Adjustment of Debts of a Municipality
_____ (4) Liquidation
6. Reorganization
_____ (1) General Provisions
7. Adjustment of Debts of a Family Farmer or Family
_____ (1) General Provisions
Fisherman with Regular Annual Income
_____ (5) Adjustment of Debts of a Municipality
_____ (7)
Adjustment of Debts of a Family Farmer or Family
Fisherman with Regular Annual Income
_____ (8)
Adjustment of Debts of an Individual with Regular
Income
8.
Adjustment of Debts of an Individual with Regular
Income
_____ (3) Creditors, the Debtor, and the Estate
_____ (4) Liquidation
_____ (8)
Adjustment of Debts of an Individual with Regular
Income
_____ (6) Reorganization
_____ (3) Creditors, the Debtor, and the Estate
Question 7
0 / 5 points
State legislation is mandatory primary authority for transactions covered by state statute
A) True
B) False
Question 8
0 / 5 points
The chapters of the Bankruptcy Code are 1, 3, 5, 7, 9, 11, 13, and 15.
A) True
B) False
Question 9
0 / 5 points
The definitions in Chapter 1 of the Bankruptcy Code apply throughout the Bankruptcy Code.
A) True
B) False
Question 10
The divisions in the Bankruptcy Code are called ____________.
0 / 5 points
parts
sections
articles
chapters
Question 11
0 / 5 points
The holding and rationale of a United States Supreme Court opinion is mandatory primary authority
A) True
B) False
Question 12
0 / 5 points
The holding and rationale of a United States Bankruptcy Court interpreting a federal statute is mandatory primary authority and
must be followed by all bankruptcy courts nationwide.
A) True
B) False
The operative chapters of the Bankruptcy Code are:
________
Question 13
0 / 5 points
(7, 9, 11, 12, 13, 15)
Question 14
The universal chapters of the Bankruptcy Code are:
0 / 5 points
________
(1, 3, 5)
Question 15
0 / 5 points
Under BAPCPA, Chapter 12 was made a permanent chapter of the Bankruptcy Code.
A) True
B) False
Question 16
0 / 5 points
Under the Bankruptcy Act of 1898, Chapter Twelve was referred to as “Chapter 12.”
A) True
B) False
Question 17
0 / 5 points
Under the Bankruptcy Code of 1978, Chapter Twelve is referred to as “Chapter XII.”
A) True
B) False