a) T or F A properly filed PPR financing statement can create a Purchase-Money Security

Interest in equipment supplied by the Secured Party to the debtor/customer even

before the registration date of such PPR financing statement.

b) T or F After seizing secured property, the Secured party can sell that property for any

price it wishes.

c) T or F A properly filed PPR financing statement can create Purchase-Money Security

Interest in inventory supplied by the Secured Party to the debtor/customer even

before the registration date of such PPR financing statement.

d) T or F In order to obtain the special priority afforded to a PMSI, it is only necessary that

a financing statement be filed at the PPR claiming a PMSI.

e) T or F Filing a financing statement at the PPR is the only method of perfecting a security

interest and obtaining priority over debtor property.

f) T or F Conditional sale agreements and the equipment lease agreements will be subject

to the requirements of Personal Property Security Legislation.

g) T or F A supplier will obtain an enforceable security interest against a purchaser by

including the granting of the security interest on an invoice that is delivered to

the purchaser with the goods.

h) T or F If a search of the PPR is conducted and you wish to obtain information beyond

that which is disclosed by the search, it is possible to obtain further information

from the creditors who registered the financing statements.

i) T or F Personal Property Security Legislation governs the taking of mortgage security

over land.

j) T or F If you purchase goods from a retail business, it is not necessary to determine if a

bank or other lender has a security interest in such goods.

k) T or F Only suppliers of goods can claim Purchase-Money Security Interests.

l) T or F Even if the PPR financing statement that is registered claiming a PMSI is not the

first financing statement registered against a particular debtor, the secured party

that has filed the Purchase-Money Security Interest can achieve priority over such

earlier filed financing statement.

m) T or F If a secured party is concerned about the ability of a debtor to repay a secured

debt, it can seize the secured property.

n) T or F The rules for completing PPR financing statements are the same in every province.

o) T or F The Personal Property Registry is responsible for ensuring that PPR financing

statements filed by secured parties are properly completed.