If the farm is sold for $590,000 and the irrigation equipment is sold for a total of $180,000 how much will be received (you may assume no repayments of the capital sums) by: 1)

CBA in total? [1 mark]

a. $565,000 b. $540,000 c. $500,000 d. $65,000

2) SBF in total? [1 mark]

a. $140,000 b. $110,000 c. $170,000 d. $60,000

3) Westpac on its December loan for which the paddocks are security? [1 mark]

a. $25,000 b. $90,000 c. $40,000 d. $50,000

4) Westpac on its October loan for which the irrigation equipment is security? [1 mark]

a. $30,000 b. $10,000 c. $40,000 d. $90,000

5) To improve its recovery prospect for the June 2021 loan CBA should have [1 mark]

a. perfected the security b. lodged a caveat c. registered the security d. B and C