Which of the Following Methods of Perfection Should a Bank

question 46

Multiple Choice

Which of the following methods of perfection should a bank use if it wishes to ensure it will not have to expend efforts in repossession?

• A) Perfection by possession.
• B) Perfection by filing.
• C) Perfection by implication.
• D) Perfection by collateral in interest.
• E) A bank cannot ensure it will not have to repossess the collateral.

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Definitions:

Semantic Memory

The memory of knowledge concerning the use of language and the rules for the solution of problems or acquisition of concepts.

Hierarchically

In an organized manner where objects, values, or classes are ranked above one another, often used to describe structured relationships within systems.

Concept Organization

The arrangement and structuring of ideas and categories in the mind to facilitate understanding and retrieval of information.

Elaborative Rehearsal

A memory technique that involves thinking about the meaning of the term to be remembered, rather than merely repeating the word to yourself.