Once Filed,a Financing Statement Is Effective for the Duration of the Loan

question 46

True/False

Once filed,a financing statement is effective for the duration of the loan.

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Definitions:

Cash Balance Plans

A type of pension plan where an employer credits a participant's account with a set percentage of their yearly compensation plus interest charges.

Defined-benefit Plans

Retirement plans in which an employer promises a specified pension payment upon retirement, based on the employee's earnings history, tenure of service, and age.

Defined-contribution Plans

A type of retirement plan where an employer, employee, or both make contributions on a regular basis, but future benefits depend on the investment's performance.