A purchase money security interest may be automatically perfected if it covers:
A) future advances.
B) inventory.
C) consumer goods.
D) proceeds.

Question

Quizplus · Accepted Answer

A creditor who sells goods to a consumer on credit or who loans money to enable a consumer to buy goods can perfect a security interest merely by attaching the security interest to the goods. A creditor under these circumstances has what is called a purchase money security interest in consumer goods.

A Purchase Money Security Interest May Be Automatically Perfected If