Practice Quiz

Paralegal Exam Prep - Question List

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181. Which of the following is NOT an essential element of a Rule 10b-5 offense?
  1. Insider trading
  2. Materiality
  3. Connection to the purchase or sale of securities
  4. Knowledge of wrongdoing
  5. Manipulation or deception
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182. A creditor is:
  1. Someone who owes a debt.
  2. Someone appointed to oversee a bankruptcy estate.
  3. Someone who has a credit card.
  4. Someone who has filed for bankruptcy.
  5. Someone to whom a debt is owed.
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183. In a Chapter 7 bankruptcy:
  1. Abusiness ceases operations and liquidates.
  2. A city reorganizes.
  3. A business or individual reorganizes.
  4. A farmer reorganizes.
  5. An individual reorganizes.
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184. Danny grows produce that he sells to local grocers and at farmer's markets. There was a drought over the past 2 years, causing many of Danny's crops to fail. Finally Danny decided that he had to file for bankruptcy. Under which chapter of the Bankruptcy Code should Danny file?
  1. Chapter 7
  2. Chapter 2
  3. Chapter 12
  4. Chapter 11
  5. Chapter 15
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185. Under what circumstances can a creditor receive relief from an automatic stay?
  1. A creditor cannot receive relief from an automatic stay.
  2. If the debtor filed a Chapter 15 bankruptcy.
  3. If the debtor filed a Chapter 11 bankruptcy.
  4. When the creditor can show that the debt owed is before a statutory timeframe.
  5. When the creditor can show that the automatic stay does not give the creditor adequate protection.
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