1. Tom purchases a life insurance policy and then joins the military. Tom is deployed in a combat zone and killed by enemy soliders. Tom's wife applies for theinsurance proceeds. Which of the following is most likely?
A. the insurance company will pay only after them ilitarty certifies that Tom would have been honorably discharged had he completed his term of service.
B. the insurance company wont pay because death die to war activites is usually exempted from the risk insured against.
C. the insurance company will pay double because the death was during war.
D. the insurance company wont pay, as military benefits supersede any civilian life insurance.
2. Tom is a family farmer with less than $3 million in debt. He wants to know if there are any chapters in the bankruptcy code specifically geared to debtors such as him. You would recommend to him chapter
A. 11
B.13
C. 12
D. 7
3. The Bankruptcy code, what happens if the debtor submits the repayment plan to the court, but the court has yet to hold its hearings?
A. the debts of the debtor are discharged
B. the debtor isnt required to start payments within the stipluated period of thirty days.
C. the debtor males payments individually to the creditors.
D. the debtor males the payment to the trustee.