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A financing statement is effective only if it is filed electronically.

A) True
B) False

Correct Answer

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County Bank wants to perfect its security interest in collateral owned by Delta Sales Company. Most likely, a financing statement should be filed with


A) the local chamber of commerce.
B) the county clerk.
C) the federal loan officer.
D) the secretary of state's office.

E) A) and C)
F) A) and B)

Correct Answer

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A financing statement is effective for no more than five months from the date of filing.

A) True
B) False

Correct Answer

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Region Bank wants to perfect its security interest in timber owned by Superior Lumber, Inc. Most likely, a financing statement should be filed with


A) the local chamber of commerce.
B) the county clerk.
C) the federal loan officer.
D) the secretary of state's office.

E) A) and C)
F) C) and D)

Correct Answer

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verified

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