Transfer of Collateral to a Secured Party for the Purpose

question 17

Multiple Choice

Transfer of collateral to a secured party for the purpose of perfection is called a[n] _____________.

• A) Allegiant.
• B) Pledge.
• C) Transfer.
• D) Allonge.
• E) Release.

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Definitions:

Variable Cost

A cost that grows in direct proportion to the volume of output or sales.

Fixed Costs

Regular expenses that do not vary with the volume of production or sales, such as rent, salaries, and insurance premiums.

Capacity

The maximum amount or number that something can contain or accommodate.

Variable Costs

Costs that change in proportion to the level of production or sales volume.