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AAFM Exam CTEP Topic 4 Question 35 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 35
Topic #: 4

[All CTEP Questions]

The defined period for fraudulent transfers under the Bankruptcy Code was formerly ____________prior to the debtor's filing for bankruptcy. This period was ____________ by the Bankruptcy Abuse Prevention and Consumer Protection Act of ___________.Transfers to self-settled trusts may be recaptured if made within _________ of the debtor's filing for bankruptcy if the transfer in trust was made with the intent to hinder, delay or defraud present or future creditors.

AOne year ; Extended to two years; 2005; 10 years

BTwo years; Reduced by one year; 2005; 10 years

COne year; Extended to two years; 2008; 15 years

DTwo years; Reduced by one year; 2008; 15 years

Show Suggested Answer

Suggested Answer: A

by Jesusita at Mar 05, 2024, 06:12 PM

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Theodora

9 months ago

That's interesting. It really shows how important it is to prevent fraudulent transfers.

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Justine

9 months ago

I remember studying that transfers to self-settled trusts may be recaptured if made within 10 years of the debtor's filing for bankruptcy.

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Brigette

9 months ago

Yes, that's correct. It was extended to provide more protection for creditors.

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Reid

9 months ago

I think the period for fraudulent transfers under the Bankruptcy Code was extended to two years in 2005.

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Georgene

9 months ago

I believe transfers to self-settled trusts can be recaptured if made within 10 years.

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Leslie

9 months ago

So, now transfers may be recaptured if made within two years of the debtor's filing for bankruptcy.

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Buddy

9 months ago

Yes, but it was extended to two years by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

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Danica

10 months ago

I think the defined period for fraudulent transfers under the Bankruptcy Code was originally one year.

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