A financing statement must a. describe b .tag the collateral to A. Public B. Perfected notice. An improper filing renders the secured partys interest A.Uperfected B. bull /void and A.reduces B. eliminates the secured partys claim in bankruptcy to that of a(n)A. Unsecured B. Interested creditor.

Select the two situations in which a security interest can be perfected without filing a financing statement.

a. When the security interest is automatically perfected

b. When all goods are purchased for wholesale only

c. When the collateral is in the possession of the secured party

d. When there is a promise to pay the debt of another person

e. When there are oral promises to repay the debt by the debtor

For an individual debtor, the UCC-9 should be filed in the state of the debtors a. Primary b. secondary c.vacation residence. For a corporation, limited liability company or other organization that is required to file formation papers with the state, the form should be filed in the state where the organization is A.registered B. doing business

. For all other entities, it is the state in which the business is A. Located b.doing business

, or if there is more than one office, the place at which the debtor A.manages b.maintains

Its operations and affairs.