Justin Filed a Chapter 7 Bankruptcy Petition in Which He

question 40

Multiple Choice

Justin filed a Chapter 7 bankruptcy petition in which he exempted his home,valued at $123,000.Justin can keep his entire home from all creditors if:

• A) he claims his exemptions under the federal Bankruptcy Code.
• B) he lives in a state that allows an exemption amount of at least $123,000.
• C) he lives in a state that allows an exemption amount of at least $123,000, he has lived in that state for at least two years prior to filing for bankruptcy, and there are no secured creditors with perfected liens against the home.
• D) None of the above.

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Definitions:

False Consensus Effect

A cognitive bias whereby individuals overestimate the extent to which their beliefs, feelings, and behaviors are shared by others.

False Consensus Effect

A cognitive bias whereby people tend to overestimate the extent to which their beliefs, values, opinions, and habits are normal and typical of those of others.

Pro-Choice Attitudes

Views or beliefs that support the right of individuals to make autonomous decisions about their own reproductive health, including the option of having an abortion.

Attitudes

An individual’s opinions and beliefs about people, objects, and ideas—how the person feels about the world.