If the Applicable State Has "Opted Out" of the Federal

question 44

True/False

If the applicable state has "opted out" of the federal bankruptcy exemptions, the debtor who has resided in the state for at least the past 730 days has no choice and must claim the state exemptions and the federal nonbankruptcy exemptions.

---

Definitions:

Eurodollar Loans

Loans in U.S. dollars that are deposited in banks outside the United States, often used in international trade financing.

Overnight

Referring to transactions that occur or are settled from the end of one business day to the start of the next.

Norwegian Krone

Norway's legal tender, indicated by the abbreviation NOK.

Canadian Dollar

The official currency of Canada, often symbolized as CAD, which is used across the country and in international financial transactions.