This module, which contains questions and answers regarding CFP Fundamental Principal topics covered in the CFP exam. Get the CFP exam preparation you need.
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These flashcards will cover these topics:
A. Rights and Duties-Debtors and Creditors – general creditor, lien creditor, governmental creditor, collection rights, debtor, surety, guarantor, collateral.
B. Rights and Duties-Guarantors - suretyship, requirements to create a valid surety agreement, 3 types of surety agreements, surety’s rights against a creditor or co-surety, difference between co-surety, subsurety and guarantor, independent consideration necessary to support a surety relationship, defenses of a surety in cases of default
C. Bankruptcy – purpose of bankruptcy law, equity vs. bankruptcy insolvency, 5 chapters of bankruptcy reform, involuntary bankruptcy petitions, debtor’s contest of involuntary bankruptcy, types of debts not discharged in bankruptcy proceedings, actions resulting in general denial of discharge, automatic stay, involuntary gap, order of relief priority, powers of a trustee, elements of a preferential transfer, chapter 7 bankruptcy, chapter 11 bankruptcy, chapter 13 bankruptcy. |
