FRIA MCQ

FINANCIAL REHABILITATION and INSOLVENCY ACT 1. This act shall be knon as the !Financial Rehabilita"on and Insol#enc$ Act!. a. RA 1%1&' b. RA ()'% c. Act 1%1&' d. RA (*)% '. It +e,e+s to ad-inist+a"#e ad-inist+a"#e e/enses0 ece/t a. Sellin2 E/ense b. 3a$-ent o, ne obli2a"ons c. Fees o, the +ehabilita"on +ehabilita"on +ecei#e+ d. Othe+ e/enses alloed b$ the co4+t *. It +e,e+s to de-ands o, hate#e+ nat4+e o+ cha+acte+ a2ainst the debto+. a. Clai-s b. A5liate c. 6e-and d. Liabilit$ &. It +e,e+s to +eal and /e+sonal /+o/e+t$ o, debto+. a. Liabilit$ b. Lien c. Collate+al d. Enc4-be+ed 3+o/e+t$ ). It +e,e+s to a nat4+al /e+son that beco-es insol#ent. a. 6ebto+ b. C+edito+ c. Indi#id4al C+edito+

d. Indi#id4al 6ebto+ 7. It +e,e+s to /+oceedin2s ini"ated b$ c+edito+s a. Vol4nta+$ b. In#l4nta+$ c. Li84ida"on O+de+ d. In#l4nta+$ Li84ida"on 9. Shall +e,e+ to a stat4to+$ o+ cont+act4al clai-. a. Enc4-be+ed /+o/e+t$ b. Collate+al c. Lien d. a : b ;. It +e,e+s to nat4+al /e+son o+ le obca"on o, debto+ b. 6ebto+ is 4nde+ +ehab c. 6i+ect /4blica"on in a -a2aGine d. S4--a+$ o, 2+o4nds ,o+ /e""on *;. The ,olloin2 a+e ob