Darrel, Smith, Keith and Aaron Are Claimants to a Collateral

Multiple Choice

Darrel, Smith, Keith and Aaron are claimants to a collateral interest.Smith and Darrel secure their interest.Aaron takes physical possession of the collateral.Keith files a financing statement some time later.Who among the four would have highest priority of claim to the collateral?

A) Darrel
B) Smith
C) Keith
D) Aaron