Which of the Following Is True Regarding a Security Interest

question 52

Multiple Choice

Which of the following is true regarding a security interest in consumer goods?

• A)Under federal consumer protection legislation,a seller may not hold a security interest in consumer goods.
• B)A financing statement must be filed in order to perfect a security interest in consumer goods.
• C)When a creditor sells a consumer good to a debtor on a credit basis,the security interest perfects automatically.
• D)Under most state laws,a seller may not hold a security interest in consumer goods.
• E)When a creditor sells a consumer good to a debtor on a credit basis,the security interest is perfected by the seller's possession.

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Definitions:

Comfort Level

An individual's state of physical or psychological ease, often characterized by a lack of hardship or distress, and including feeling secure, safe, and untroubled in a particular situation or environment.

Adult Learning Cycle

A concept in educational theory that outlines the continuous process of adults experiencing, reflecting, thinking, and acting as they learn.

Unexpected Assignment

A task or project given with little to no prior notice, requiring immediate attention and action.

Stress

The psychological and physical response to perceived challenges or threats in one's environment.