Hank's Tractor Is Collateral for a Loan and Hank Moves

question 45

True/False

Hank's tractor is collateral for a loan and Hank moves to the next county. In most states, the security instrument must be re-filed in the proper county or it will render the security interest ineffective.

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Definitions:

Risk Profile

A representation of an individual's or entity's exposure to risk, especially in terms of investment.

Prices

The amount of money required to purchase a good, service, or asset, often determined by supply and demand dynamics in the market.

Hedge

Investment protection method utilized to reduce the potential for financial loss by offsetting price movements in a related asset.