CPI MCQ 2026 Exam Questions
and Correct Answers | New
Update
Under Section 178 of the Act, which officeholders have the power to
disclaim onerous property? - ANSWER ✔✔- Liquidator in CVL
- Trustee in bankruptcy
In a bankruptcy, when does an income payment agreement have to be
agreed by? - ANSWER ✔✔Before the bankrupt has received their
discharge
, What does not count as a secondary preferential creditor in insolvency
proceedings? - ANSWER ✔✔Employer's national insurance
contributions
Within what time period must a GM of members be held following the
directors swearing of the declaration of solvency (MVL)? - ANSWER
✔✔5 weeks
As part of the nominee's report in a CVA, what is the nominee not
required to comment on? - ANSWER ✔✔Whether the ongoing
trading of the company will be profitable
In a CVL, what is the minimum notice period to notify the redundancy
payment office when more than 20 employees are being made
redundant from one company? - ANSWER ✔✔30 days
How many creditors must be in attendance (in person/by proxy) at a
meeting of creditors which is a qualifying decision procedure, in order for
the meeting to be quorate? - ANSWER ✔✔At least 1 creditor who is
entitled to vote
To be eligible for a debt relief order, what is the maximum value of
assets a debtor can have? - ANSWER ✔✔£2,000
and Correct Answers | New
Update
Under Section 178 of the Act, which officeholders have the power to
disclaim onerous property? - ANSWER ✔✔- Liquidator in CVL
- Trustee in bankruptcy
In a bankruptcy, when does an income payment agreement have to be
agreed by? - ANSWER ✔✔Before the bankrupt has received their
discharge
, What does not count as a secondary preferential creditor in insolvency
proceedings? - ANSWER ✔✔Employer's national insurance
contributions
Within what time period must a GM of members be held following the
directors swearing of the declaration of solvency (MVL)? - ANSWER
✔✔5 weeks
As part of the nominee's report in a CVA, what is the nominee not
required to comment on? - ANSWER ✔✔Whether the ongoing
trading of the company will be profitable
In a CVL, what is the minimum notice period to notify the redundancy
payment office when more than 20 employees are being made
redundant from one company? - ANSWER ✔✔30 days
How many creditors must be in attendance (in person/by proxy) at a
meeting of creditors which is a qualifying decision procedure, in order for
the meeting to be quorate? - ANSWER ✔✔At least 1 creditor who is
entitled to vote
To be eligible for a debt relief order, what is the maximum value of
assets a debtor can have? - ANSWER ✔✔£2,000
