Which of the Following Is True of Perfection by Possession

question 1

Multiple Choice

Which of the following is true of perfection by possession of collateral?

• A) A creditor cannot take possession of the collateral until a financing statement is filed.
• B) No financing statement has to be filed if the creditor has physical possession of the collateral.
• C) A debtor cannot acquire security against the collateral without filing a financing statement.
• D) A financing statement can be filed only against intangible personal property placed as collateral.

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Definitions:

Depression

A widespread and severe emotional disorder marked by continuous experiences of sorrow, despair, and a diminished interest or enjoyment in activities.

Neurotransmitter Abnormality

An irregularity or imbalance in the chemicals in the brain that transmit signals between nerve cells, potentially leading to various neurological or psychological conditions.

Social Anxiety Disorder

A mental health condition where an individual experiences intense fear of social situations and being negatively judged or rejected by others.

Biological Treatment

Therapies that affect the body's biological function to treat mental health disorders, such as medication or electroconvulsive therapy.