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Exam (elaborations)

REG R8 Exam Questions & Answers 100% CORRECT 2024/2025

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  • REG R8
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  • REG R8

REG R8 Exam Questions & Answers 100% CORRECT 2024/2025 6 types of bankruptcy - ANSWERSch 7 ch 9 ch 11 ch 12 ch 13 ch 15 Chapter 7 Bankruptcy, what entities - ANSWERSliquidation individual, ptnrshp, corp Chapter 9 Bankruptcy - ANSWERSmunicipal debt adjustment Chapter 11 Bankruptc...

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  • August 13, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • REG R8
  • REG R8
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REG R8 Exam Questions & Answers
100% CORRECT 2024/2025

6 types of bankruptcy - ANSWERSch 7

ch 9

ch 11

ch 12

ch 13

ch 15



Chapter 7 Bankruptcy, what entities - ANSWERSliquidation

individual, ptnrshp, corp



Chapter 9 Bankruptcy - ANSWERSmunicipal debt adjustment



Chapter 11 Bankruptcy - ANSWERSreorganization

individuals, partnerships and corps



Chapter 13 Bankruptcy - ANSWERSadjust debt for people with ordinary income



Individuals only



Chapter 15 Bankruptcy - ANSWERScross-boarder cases



Chapter 12 Bankruptcy - ANSWERSFamily farmers



Automatic stay- chapter 7 &11 - ANSWERSonce petition is filed- most creditors cannot take steps to
collect

, chapter 7 bankruptcy- voluntary or involuntary - ANSWERSeither



chapter 11 bankruptcy- voluntary or involuntary - ANSWERSeither



involuntary bankruptcy.... number of creditors and amount? - ANSWERSless than 12- only one with
16,750 must file

more than 12- 3 with 16,750 (joint)



What is included in a bankruptcy estate - ANSWERSestate (FMV) PLUS DIII

-divorce

-inheritance

-income from estate

-insurance

180 days after filing



Two things to look for before/after bankruptcy - ANSWERS-preferential payment

-fraudulent transfers



preferential payment - ANSWERS-paying debts up to 90 days before bankruptcy

-debtor cannot choose who gets paid first



do not include

-pmts in ord. course of business

-PMSI perfected within 30 days

-child support

-consumer pmts <$600



fraudulent transfers - ANSWERScheck within 2 years of filing for bankruptcy

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