Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

AAFM Exam CTEP Topic 5 Question 45 Discussion

Actual exam question for AAFM's Chartered Trust & Estate Planner (CTEP) Certification Examination exam
Question #: 45
Topic #: 5
[All Chartered Trust & Estate Planner (CTEP) Certification Examination 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.

Show Suggested Answer Hide Answer
Suggested Answer: A

by Olene at Jul 06, 2024, 02:13 AM

Limited Time Offer

25%

Off

Get Premium CTEP Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Bonita
2 months ago
Okay, let me think this through step-by-step. The question says the period was formerly one year, then it was extended to two years, and the act was passed in 2005. So the answer must be A.
upvoted 0 times
Irma
1 months ago
That makes sense, A is the correct answer.
upvoted 0 times
...
Chantell
1 months ago
I agree, the answer must be A.
upvoted 0 times
...
...
Nan
2 months ago
Haha, I bet the person who wrote this question was trying to trip us up with all those numbers. Gotta stay on your toes for these exams!
upvoted 0 times
...
Narcisa
2 months ago
Wait, wasn't it 2008 when the act was passed? I'm a little confused on the timeline here.
upvoted 0 times
Peter
29 days ago
C) One year; Extended to two years; 2008; 15 years
upvoted 0 times
...
Levi
1 months ago
B) Two years; Reduced by one year; 2005; 10 years
upvoted 0 times
...
Bernardo
1 months ago
A) One year ; Extended to two years; 2005; 10 years
upvoted 0 times
...
...
Edison
2 months ago
Hmm, I thought the period was extended to two years, not reduced. Let me double-check the question.
upvoted 0 times
Dewitt
1 months ago
I think you are correct, the period was actually extended to two years in 2005.
upvoted 0 times
...
Irma
2 months ago
D) Two years; Reduced by one year; 2008; 15 years
upvoted 0 times
...
Franchesca
2 months ago
C) One year; Extended to two years; 2008; 15 years
upvoted 0 times
...
Tommy
2 months ago
B) Two years; Reduced by one year; 2005; 10 years
upvoted 0 times
...
Dudley
2 months ago
A) One year ; Extended to two years; 2005; 10 years
upvoted 0 times
...
...
Jerry
2 months ago
You're right, I misunderstood the question. A is the correct answer.
upvoted 0 times
...
Antione
2 months ago
But the period was extended to two years in 2005, not 2008.
upvoted 0 times
...
Levi
3 months ago
I'm pretty sure the answer is B. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 reduced the fraudulent transfer period from two years to one year.
upvoted 0 times
Terry
2 months ago
So the answer is B, right?
upvoted 0 times
...
Lorriane
2 months ago
That's correct. It was reduced by one year.
upvoted 0 times
...
Kanisha
2 months ago
I think you're right. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 did reduce the fraudulent transfer period from two years to one year.
upvoted 0 times
...
Kanisha
2 months ago
So the answer is B, right?
upvoted 0 times
...
Cassie
2 months ago
That's correct. It was reduced by one year.
upvoted 0 times
...
Francesco
2 months ago
I think you're right. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 did reduce the fraudulent transfer period from two years to one year.
upvoted 0 times
...
...
Jerry
3 months ago
I disagree, I believe the answer is C.
upvoted 0 times
...
Antione
3 months ago
I think the answer is A.
upvoted 0 times
...

Save Cancel