A Reason That a Secured Lender Should Register Its Secured

question 12

Multiple Choice

A reason that a secured lender should register its secured interest is to:

• A) secure the priority of the lender in the event of bankruptcy of the borrower
• B) allow the lender to seize the security from the borrower
• C) guarantee the lender repayment of the debt
• D) prohibit the borrower from reselling the security
• E) all of the above

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Definitions:

Overestimate

To assess something as being larger, better, or more important than it actually is.

Underestimate

To judge something below its actual value, size, or importance.

Accomplish

To complete successfully or to achieve a set goal or objective.

Year

A period of approximately 365 or 366 days, divided into 12 months, used in the Gregorian calendar to measure the time a complete orbit of the Earth around the Sun takes.