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Explain your understanding of the different purposes of assessment and the implications of these for teachers. How would the following practices fit with some of the different purposes you have identified?
-Diagnostic/formative assessment.
-Summative assessment.
-Norm-referenced assessment.
-Criterion-referenced assessment.
-Learner judged.
Bankruptcy Remedies
Legal measures available to individuals or businesses that are unable to repay their debts, providing a way to resolve insolvency issues.
Chapter 7 Bankruptcy
A provision of the bankruptcy code that allows for the liquidation of a debtor's assets to pay off creditors; often referred to as straight or liquidation bankruptcy.
Secured Party
An individual or entity that has an interest, often provided by a security agreement, in the personal property of a debtor, which provides security for payment or performance of an obligation.
Collateral
Collateral refers to properties or assets that a borrower offers to a lender as security for a loan, which can be confiscated if the borrower fails to repay.
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