CPAT Prep Credit And Collections Pfs

64 Questions | Total Attempts: 2471

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CPAT Quizzes & Trivia

This is Credit and Collections Part of the CPAT


Questions and Answers
  • 1. 
    A patient account can be forwarded to a third party collector at any time.
    • A. 

      True

    • B. 

      False

  • 2. 
    A statement notifying the patient and/or guarantor of the intent to forward the account to a collection agency is required.
    • A. 

      True

    • B. 

      False

  • 3. 
    Medicare bad debt requires all of the following except:
    • A. 

      Appropriate sequence of collection attempts

    • B. 

      A valid service

    • C. 

      Documented services

    • D. 

      There are no requirements

  • 4. 
    This chapter is frequently referred to as " reorganization" bankruptsy:
    • A. 

      Chapter 7

    • B. 

      Chapter 11

    • C. 

      Chapter 12

    • D. 

      Chapter 13

  • 5. 
    This chapter is designed for individuals with regular income who desire to pay their debts abut are currently unable to do so:
    • A. 

      Chapter 7

    • B. 

      Chapter 11

    • C. 

      Chapter 12

    • D. 

      Chapter 13

  • 6. 
    This chapter is bankruptcies for farmers:
    • A. 

      Chapter 7

    • B. 

      Chapter 11

    • C. 

      Chapter 12

    • D. 

      Chapter 13

  • 7. 
    This chapter applies to individuals and businesses that cannot pay their debts based on their incomes:
    • A. 

      Chapter 7

    • B. 

      Chapter 11

    • C. 

      Chapter 12

    • D. 

      Chapter 13

  • 8. 
    70% of all bankruptcies are filed under this chapter:
    • A. 

      Chapter 7

    • B. 

      Chapter 11

    • C. 

      Chapter 12

    • D. 

      Chapter 13

  • 9. 
    Most Chapter _____ cases end up as Chapter _____ liquidation cases:
    • A. 

      Chapter 12 / Chapter 13

    • B. 

      Chapter 7 / Chapter 11

    • C. 

      Chapter 13 / Chapter 7

    • D. 

      Chapter 11 / Chapter 7

  • 10. 
    How long does a business have to initially draft a repayment plan:
    • A. 

      1 month

    • B. 

      3 months

    • C. 

      6 months

    • D. 

      1 year

  • 11. 
    Under chapter 13, how long is a debtor permitted to repay creditors?
    • A. 

      1 year

    • B. 

      2 years

    • C. 

      3 years

    • D. 

      5 years

  • 12. 
    Under chapter 13, in no case may a plan provide for payments over a period of longer than:
    • A. 

      1 year

    • B. 

      2 years

    • C. 

      3 years

    • D. 

      5 years

  • 13. 
    A debtor can be placed in involuntary bankruptcy under chapter 7 or 11 if the debtor has:
    • A. 

      10 or more creditor, three of which have claims in excess of $2500 each

    • B. 

      12 or more creditors, three of which have claims in excess of $5000 each

    • C. 

      15 or more creditors, five of which have claims in excess of $10,000 each

    • D. 

      20 or more creditor, ten of which have claims in excess of $15,000 each

  • 14. 
    The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 states a debtor must do which of the following:
    • A. 

      Repay a portion of their debt

    • B. 

      Receive counseling on budgeting

    • C. 

      Receive debt management counseling

    • D. 

      All of the above

  • 15. 
    All of the following are ways to confirm bankruptcy except:
    • A. 

      Review the local newspaper stories

    • B. 

      Contact Federal US Bankruptcy Court for the district where the guarantor resides

    • C. 

      Mail return

    • D. 

      Contact the attorney of record handling the bankruptcy

  • 16. 
    Upon receipt of the a Chapter 7 notification the following must be initiated except:
    • A. 

      Contact the patient immediately demanding payment in full

    • B. 

      Flag the patient account

    • C. 

      Notify all parties if any payments are received on the account

    • D. 

      Forward a copy of the bankruptcy notice to all third party collection agents

  • 17. 
    A Bankruptcy notice that releases the guarantor/patient from financial responsibility of any and all account balances listed on the bankruptcy petition is called:
    • A. 

      Dismissal

    • B. 

      Bankruptcy Notice

    • C. 

      Discharge of Debtor

    • D. 

      Chapter 7

  • 18. 
    Patient accounts that occur after the petition and/or were not included in the notification will be subject to the discharge.
    • A. 

      True

    • B. 

      False

  • 19. 
    Most common reasons for bankruptcy dismissal include all of the following except:
    • A. 

      Failure to appear in court

    • B. 

      Failure to process required documentation

    • C. 

      Failure to follow through on the filing process

    • D. 

      Failure to pay their attorneys

  • 20. 
    Title I of the Consumer Credit Protection Act is also known as:
    • A. 

      Fair Debt Collections Practices Act

    • B. 

      Fair Credit Billing Act

    • C. 

      Fair Credit Reporting Act

    • D. 

      Truth in Lending Act

  • 21. 
    Title VIII of the Consumer Credit Protection Act is also known as:
    • A. 

      Fair Debt Collections Practices Act

    • B. 

      Fair Credit Billing Act

    • C. 

      Fair Credit Reporting Act

    • D. 

      Truth in Lending Act

  • 22. 
    Title VI of the Consumer Credit Protection Act is also known as:
    • A. 

      Fair Debt Collections Practices Act

    • B. 

      Fair Credit Billing Act

    • C. 

      Fair Credit Reporting Act.

    • D. 

      Truth in Lending Act

  • 23. 
    The purpose of this act is to protect consumers from inaccurate or unfair practices by issuers of open-ended credit.
    • A. 

      Fair and Accurate Credit Transaction Act

    • B. 

      Fair Credit Billing Act

    • C. 

      Fair Credit Reporting Act

    • D. 

      Truth in Lending Act

  • 24. 
    This act requires creditors to inform debtors of their rights and responsibilities under the act.
    • A. 

      Fair and Accurate Credit Transaction Act

    • B. 

      Fair Credit Billing Act

    • C. 

      Fair Credit Reporting Act

    • D. 

      Truth in Lending Act

  • 25. 
    This act deals with the disclosure of information before credit is issued.
    • A. 

      Fair Debt Collections Practices Act

    • B. 

      Fair Credit Billing Act

    • C. 

      Fair Credit Reporting Act

    • D. 

      Truth in Lending Act