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Which of the Following Is True Regarding a Secured Party's

Question 103

Multiple Choice

Which of the following is true regarding a secured party's interest in proceeds?


A) A secured party automatically has an interest in proceeds for a limited amount of time.
B) A secured party has an interest in proceeds only if the proceeds are taken into the possession of the secured party.
C) A secured party has an interest in proceeds only if a financing statement is filed on the proceeds.
D) A secured party has an interest in proceeds if the secured party takes the proceeds into the possession of the secured party or if the secured party files a financing statement on the proceeds.
E) The secured party may not acquire a security interest in proceeds unless a new agreement regarding the proceeds is reached with the debtor.

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