Wanderlust Gave a Security Interest in His Conestoga Wagon to Iowa

question 44

Multiple Choice

Wanderlust gave a security interest in his Conestoga wagon to Iowa Bank who perfected its security interest by filing a financing statement with the appropriate officials in Iowa.What is true about the filing of this security interest.

• A) It is effective for 5 years.
• B) after 5 years the security interest expires and cannot be refiled.
• C) it must be filed where the collateral is located.
• D) It is effective for 30 years.

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