1- Lending Bank files a financing statement regarding a transaction with Metro Company. To be valid, the financing statement must contain all of the followingexcept

a. Lending's name.

b. a description of the collateral.

c. a statement of the purpose for the transaction.

d. Metro's name.

2- When a buyer exercises the right to cover, the buyer can still sue the seller for all EXCEPT which of the following?

a. Incidental damages

b. Consequential damages

c. The difference between the cover cost of the goods and the contract cost of the goods

d. Punitive damages

3- Barth borrows funds from City Bank to pay his tuition. His mother Debi co-signs the credit application. After the loan agreement is signed, Barth agrees to a higher rate of interest without telling Debi. She is

a. liable for the principal only.

b. discharged from the agreement.

c. liable at the higher rate of interest.

d. liable at the lower rate of interest.

4- Bonds Bank assigns to Capital Invest the bank's security interest in certain real property owned by Developer Inc. Capital Invest becomes the secured party of record. The bank's security interest in the collateral is

a. floated to other property owned by Developer Inc.

b. subordinated to the assignee's interest.

c. extended.

d. terminated.

5- Which of the following remedies is available to both buyers and sellers?

a. Cover

b. Cure

c. Specific performance

d. Adequate assurances