Method of perfecting security interest

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Reference no: EM132244577

1. What kind of legal notice do financing statements provide?

a. constructive

b. horizontal

c. actual

d. vertical

2. Which of the following is NOT a method of perfecting a security interest?

a. taking possession of collateral

b. making future advances

c. filing a financing statement

d. take a purchase money security interest in consumer goods

3. Which of the following is NOT a requirement for a security agreement?

a. must be signed by the creditor

b. must include creditor's rights upon default

c. must include debtor's promise to repay

d. must contain a description of the collateral

Reference no: EM132244577

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