CBA Ethics & Compliance

Question 1

Why is ethical conduct essential in bankruptcy administration?

Accepted Answer

To ensure fairness and legal integrity

Answer

To win more cases

Answer

To secure media coverage

Answer

To avoid paperwork

Question 2

What is a common ethical breach in bankruptcy proceedings?

Accepted Answer

Hiding assets from the court

Answer

Filing paperwork early

Answer

Requesting an extension

Answer

Correcting name spellings

Question 3

Which law governs professional conduct in U.S. bankruptcy cases?

Accepted Answer

Bankruptcy Code and Rules

Answer

Tax Reform Act

Answer

Federal Civil Rights Law

Answer

Immigration and Nationality Act

Question 4

What is the role of compliance in bankruptcy proceedings?

Accepted Answer

To meet legal obligations and reduce risk

Answer

To increase debtor penalties

Answer

To limit paperwork

Answer

To avoid taxation

Question 5

How can professionals avoid conflicts of interest in bankruptcy cases?

Accepted Answer

Disclose conflicts and recuse if needed

Answer

Ignore prior relationships

Answer

Adjust billing rates

Answer

Change job titles

Question 6

Why is transparency critical in bankruptcy compliance?

Accepted Answer

To build trust and ensure legal clarity

Answer

To simplify records

Answer

To reduce fees

Answer

To speed up bankruptcy filings