When a Consumer Gives a Creditor a Security Interest in Forthcoming

question 13

True/False

When a consumer gives a creditor a security interest in forthcoming health insurance proceeds, the creditor must file a statement with the insurance company in order to have a perfected security interest.

---

Definitions:

Star Wheel Adjuster

A component in drum brakes used for adjusting the distance between the brake shoes and the drum, ensuring appropriate braking tension.

Primary Shoe

The brake shoe in a drum brake system that is located towards the front of the vehicle; it receives the most force during braking.

Parking Brake Cable

A component in vehicles that connects the parking brake lever to the parking brake mechanism, allowing the driver to engage the brake manually.

Adjusting Screw

A type of screw used to make precise adjustments to the position, tension, or pressure of components in various mechanisms.