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Multiple Choice Quiz
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1
Which of the following is not a recognized type of lien?
A)Consensual
B)Statutory
C)Judgment
D)Executory
2
A secured interest is a __________ lien, since the parties agree to the secured party's claim to the debtor's property.
A)Conduit
B)Cohort
C)Consensual
D)Collaborative
3
A(n) __________ lien attaches to personal property as a result of labor provided by a third party for the benefit of such property.
A)Artisan's
B)Mechanic's
C)Laborer's
D)Craftsman's
4
Before a creditor can "attach" property, he/she must follow all but which of the following procedures?
A)The creditor must file a lawsuit against the debtor, alleging that the debtor owes the creditor
B)The creditor must file an involuntary bankruptcy petition against the creditor
C)The creditor must post a bond with the court
D)The court must hold a hearing regarding the propriety of the attachment
5
A writ of __________ is a judicial order authorizing a local law enforcement officer to seize and sell any of the debtor's real or personal non-exempt property within the court's geographic jurisdiction.
A)Certiorari
B)Execution
C)Absolution
D)Condemnation
6
Which of the following debtor property can be seized to satisfy a debtor's financial obligations?
A)Clothing
B)Tools and instruments needed to carry on a trade
C)Neither A. nor B. can be seized to satisfy a debtor's financial obligations
D)Both A. and B. can be seized to satisfy a debtor's financial obligations
7
A(n) __________ order is a judicial order that satisfies a debt by seizing a debtor's property that that is being held by a third party.
A)Embellishment
B)Garnishment
C)Executory
D)None of the above
8
A(n) __________ is a contract between a creditor and a third party who agrees to pay another person's debt.
A)Suretyship
B)Affinity agreement
C)Absolution
D)Qualifier
9
Which of the following is a claim on property imposed by the court to promote/ensure fairness?
A)Common law lien
B)Consummate lien
C)Equitable lien
D)Possessory lien
10
Which of the following is a claim to property by implication of the law rather than by statute?
A)Common law lien
B)Consummate lien
C)Equitable lien
D)Possessory lien





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