Classification of collateral

Question 0

Types of Collateral

Answer 0

1. Goods
2. Quasi-tangible
3. Intangible

Question 1

Collateral

Answer 1

The property subject to a security interest or a agricultural lien

Question 2

Goods

Answer 2

1. Farm Products
2. Equipment
3. Inventory
4. Consumer Goods

FEIC

Question 3

Quasi-tangible Property

Answer 3

1) Instruments
2) Investment Property
3) Documents
4) Chattel Paper
5) Letters of Credit Rights
6) Money

IIDCLM

Question 4

Intangible Property

Answer 4

1) Accounts
2) Health-care Insurance Receivables
3) Deposit accounts
4) General Intangibles
5) Payment Intangibles
6) Commercial tort claims

Question 5

Farm products

Answer 5

Goods where debtor is a farmer and which crops are grown, growing or to be grown, livestock, supplies used or produced on a farm or products of crops or their livestock in their unmanufactured states.

Question 6

Inventory

Answer 6

Goods other than farm products which are leased by a person as lessor, held by a person for sale or lease to be furnished under a K of service,; or consist if raw materials, work in progress, or materials used or consumed in a business.

Question 7

Consumer goods

Answer 7

Goods used or bought for personal, family, or household purposes.

Question 8

Equipment

Answer 8

Goods other than farm products, inventory, or consumer goods.

Catch-all category

Question 9

Abbr. Classifications

Answer 9

G = FEIC
Q = I I D C L M  (L)
I= A H D G P C (T)