Bankruptcy Quiz
This quiz will test your knowledge of bankruptcy
1. What is bankruptcy?
A process to settle debts
A process to increase income
A process to invest money
A process to save money
2. Which of the following is a common reason for filing bankruptcy?
To improve credit score
To accumulate more debt
To pay off mortgage
To relieve financial burden
3. What is the role of a bankruptcy trustee?
To lend money to bankrupt individuals
To provide legal advice
To oversee the bankruptcy process
To promote bankruptcy alternatives
4. What is a discharge in bankruptcy?
Acquiring more debt
Eliminating certain debts permanently
Increasing income
Transferring assets to another person
5. What type of bankruptcy allows individuals to keep their assets while reorganizing their debt?
Chapter 7 bankruptcy
Chapter 11 bankruptcy
Chapter 13 bankruptcy
Chapter 9 bankruptcy
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