CBA Cheat Sheet 2026

The 30 highest-yield CBA facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Under the Bankruptcy Code, which of the following debts is generally NON-DISCHARGEABLE in a Chapter 7 case? → Student loans, absent undue hardship
2. Which section of the Bankruptcy Code authorizes a trustee to use, sell, or lease estate property outside the ordinary course of business? → 11 U.S.C. § 363
3. A new regulation impacts case management procedures. What should a CBA professional do first? → Ensuring compliance with current regulatory requirements and standards
4. Why is transparency critical in bankruptcy compliance? → To build trust and ensure legal clarity
5. A Chapter 7 trustee discovers unscheduled assets after a no-asset report was filed. What should the trustee do? → Reopen the case and administer the newly discovered assets
6. Under 11 U.S.C. § 547(b)(4)(A), a trustee may avoid a preferential transfer made to a non-insider creditor within what lookback period before the petition date? → 90 days
7. Under 11 U.S.C. § 541, which of the following is included in the bankruptcy estate? → Property acquired by inheritance within 180 days after the petition date
8. Which scenario would require a bankruptcy administrator professional to escalate a case management concern? → Creating feedback mechanisms that encourage continuous improvement
9. A stakeholder questions the value of professional ethics & standards initiatives. Which response best demonstrates ROI? → Building a culture of accountability with transparent reporting
10. What is a 'cramdown' in Chapter 11 bankruptcy? → Plan confirmation over the objection of a dissenting class of creditors
11. Which document summarizes a debtor’s income and expenses? → Income statement
12. Which scenario would require a bankruptcy administrator professional to escalate a bankruptcy laws & procedures concern? → Creating feedback mechanisms that encourage continuous improvement
13. Under 11 U.S.C. § 547, what is the preference period for transfers to non-insider creditors? → 90 days before the petition date
14. What is the most common mistake professionals make when implementing bankruptcy laws & procedures strategies? → Developing contingency plans for high-probability risk scenarios
15. What must a trustee obtain before selling real property of the estate outside the ordinary course of business? → Court approval after notice and a hearing
16. What is the role of the Official Committee of Unsecured Creditors (UCC) in a Chapter 11 case? → To represent and advocate for the interests of general unsecured creditors
17. Which tool or methodology is most appropriate for analyzing financial analysis & reporting outcomes? → Maintaining professional boundaries while building collaborative relationships
18. What is typically included in a case management order? → Schedule and procedural directives
19. Why is cash flow analysis critical in bankruptcy? → To evaluate liquidity and repayment capability
20. Which of the following is a key performance indicator for evaluating professional ethics & standards effectiveness? → Prioritizing based on risk assessment and potential impact
21. What is the primary purpose of a balance sheet? → To show financial position and net worth
22. Under the Bankruptcy Code, which party has the primary duty to administer assets and make distributions to creditors in a Chapter 7 case? → The Chapter 7 trustee
23. What is the recommended frequency for reviewing and updating bankruptcy laws & procedures protocols? → Monitoring outcomes through regular data collection and trend analysis
24. Who is primarily responsible for managing the case timeline in bankruptcy court? → The bankruptcy trustee and court
25. Under the US Bankruptcy Code, what is the deadline for most creditors to file a proof of claim in a Chapter 7 case? → 90 days after the first date set for the meeting of creditors
26. What is 'surcharge' under 11 U.S.C. § 506(c), and who may assert it? → Recovery from collateral of reasonable costs incurred to preserve or dispose of it
27. Which U.S. Bankruptcy Code chapter involves liquidation of assets? → Chapter 7
28. What is the role of a bankruptcy trustee? → Oversees and administers the bankruptcy estate
29. What is the primary purpose of a § 341 meeting of creditors in a bankruptcy case? → To allow the trustee and creditors to examine the debtor about assets and liabilities
30. A claim is considered 'contingent' in bankruptcy when it is: → Subject to a future event that may never occur