Does the Fact That the Financing Statement Was Filed Four

question 59

Multiple Choice

Does the fact that the financing statement was filed four years ago affect the bank's claim?

• A)No,under the UCC,a financing statement is valid indefinitely.
• B)No,under the UCC,a financing statement is valid for five years.
• C)Yes,under the UCC,a financing statement is valid for three years and can be automatically renewed for two year increments.
• D)Yes,under the UCC,a financing statement is valid for two years.
• E)Yes,under the UCC,a financing statement is valid for three years.