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- Subject
- Basic of Economicseconomics-mcqs › basic-of-economics
- Published
- 26 May 2019
- Last updated
- 28 May 2026
What term is used for the insolvency professional designated by secured creditors to manage debt recovery?
Multiple choice question for Basic of Economics. Select an option, then review the explanation below.
Explanation
A receiver is an insolvency expert appointed by secured creditors to take control of and recover debts owed by the debtor. Unlike a liquidator who handles the entire liquidation process, the receiver specifically focuses on securing and managing the assets for repayment. Solicitors provide legal advice, agents act on behalf of others, and trustees manage assets in bankruptcy but are not appointed by secured creditors in this capacity.
More Basic of Economics MCQs
Practice related questions from the same subject.
- 1.Which of the following best describes deflation?
- 2.Under what condition can two nations benefit from engaging in international trade?
- 3.Which of the following represents a legitimate form of currency?
- 4.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
- 5.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?