1. Which of the following is not a type of tax fraud?
a. Using a false SSN.
b. Overstating income.
c. Keeping two sets of financial books.
d. Claiming a dependent when you do not have one.
2. Which of the following describes a Chapter 13 bankruptcy?
a. All assets are liquidated and used to pay creditors.
b. Reorganizations can be used by individuals with debts less than $1 million.
c. The entity is given time to reorganize its financial affairs, settle debts, and continue operations.
d. Debtors receive all their payments up front from liquidated assets.
3. Bankruptcy courts do not have which of the following responsibilities?
a. Appointing trustees, examiners, and committees.
b. Supervising bankruptcy petitions.
c. Approving reorganization plans.
d. Conducting hearings and trials to resolve disputes.
4. Which of the following is not a characteristic of an affidavit of proposed investigator?
a. Content and extent of detail required do not vary by jurisdiction.
b. Is prepared when a fraud investigator is retained.
c. Legal document is sworn under oath and must be notarized.
d. Addressed to the court and is submitted by an attorney for the person who engaged the investigator.
5. Which of the following is the least likely symptom of a bust-out?
a. Company?s only listed address is a post office box.
b. Dramatic increase in size of credit orders.
c. Public notice of change in management.
d. Sudden decrease in inventory.
6. Which of the following is the major reason why there is so much divorce fraud?
a. Assets are being taken away from one divorce partner and given to another.
b. Divorce proceedings usually take a long time.
c. States make divorces very difficult.
d. Children usually get most assets in divorce cases.
7. Which of the following investigative methods would most likely be used more in divorce cases than in bankruptcy cases?
b. Public records searches.
c. Subpoena of private records.
8. The person appointed by a bankruptcy judge in a Chapter 11 proceeding who investigates allegations of fraud or misconduct by the debtor or its principals is a(n):
This question was answered on: Jul 11, 2017
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