Which of the Following Is Correct Concerning Termination Statements

Multiple Choice

Which of the following is correct concerning termination statements?

A) A termination statement must be filed by a secured party when a debtor has defaulted on a loan.
B) For consumer debt,the secured party must complete a termination statement in every place that it filed a financing statement.
C) The secured party must file a termination statement within 30 days of a consumer debtor's demand,provided the debtor has paid the full debt.
D) A termination statement indicates that a secured party is transferring its rights to collateral to another party.