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Security interest: Quiz


Question 1: The law divides property into two classes: personal property and ________.
Allodial titleReal estateReal propertyProperty law

Question 2: Hypothecation is usually seen in relation to ________, whereby the bill of lading is endorsed by the secured party, who, unless the security is redeemed, can claim the property by delivery of the bill.
Bareboat charterAffreightmentChartering (shipping)Bill of lading

Question 3: A security interest is created by a security agreement, under which the debtor grants a security interest in the debtor's property as collateral for a ________ or other obligation.
Consumer debtBond (finance)Credit (finance)Loan

Question 4: Pledges are rarely used in commercial contexts, but are still used by ________, which, contrary to their old world image, remain a regulated credit industry.
DebtPersonal financePawnbrokerFinancial planner

Question 5: [5] In the ________, an administration order has a similar effect, but are less expansive in scope and restriction in terms of creditors rights.
United KingdomEnglandWalesCanada

Question 6: English law on security interests has been followed in most ________ countries, and most common law countries have similar property statutes[7] regulating the common law rules.
Civil law (legal system)ShariaReception statuteCommon law

Question 7: in American law, perfection is generally taken to refer to any steps required to ensure that the security interest remains enforceable on the debtor's ________.
BankruptcyInsolvencyConsumer debtBond (finance)

Question 8: the term "security interest" is often used interchangeably with "________".
Property lawPropertyMortgageLien

Question 9: in ________, perfection has no defined statutory or judicial meaning, but academics have pressed the view that it refers to the attachment of the security interest to the underlying asset.
Scots lawEnglish lawNorthern Ireland lawContemporary Welsh Law

Question 10: Compare, for example, interest rates for a mortgage loan and for a ________ debt.
American ExpressDebit cardVisa Inc.Credit card


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