Reference no: EM132244564
1. Which of the following is NOT true of an artisan's lien?
a. It is a super-priority lien.
b. It covers services or materials with respect to goods.
c. The lien is possessory.
d. The only lien that has priority over an artisan's lien is a purchase money security interest.
2. Bankruptcy courts are -
a. called courts, but are actually arbitration tribunals
b. state courts
c. federal courts
d. municipal courts
3. For how long is a financing statement effective, assuming a continuation is not filed?
a. 3 years from the date the financing was signed
b. 10 years from the date of filing
c. 5 years from the date of filing
d. 6 months
4. Which is NOT true of secured transactions?
a. It can apply to two-party transactions.
b. The creditor can sell the collateral to satisfy the debt.
c. It describes security interests in both real and personal property.
d. It can apply to three-party transactions.
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