These are FALSE statements - please CORRECT in a short sentence 1. The location of collateral is the most important focus of perfection under the Revised Article 9. 2. In terms of financial instruments such as stocks and bonds or notes, the secured party may not generally take possession of the instrument. 3. A secured creditor is limited to repossessing property for a period of 30 days after default.
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- pls help asapConsidering the following statements true or false. 1.Circumstances whereby the CFA member breaches client confidentiality are acceptable in circumstances directed by the client in writing. 2.Mosaic theory damages the interest of all investors by disrupting the smooth functioning of forward markets and lowering investor confidence. 3.As a philosophical ethical principle, when analysing actions undertaken, it is acceptable that an act can be seen as good or bad regardless of the underlying/relevant circumstances. 4.As part of Standard IV, as a superior, it is not your responsibility to ensure ethical behaviour of your subordinates. 5.Premium investment services should be designed in such a way that, while beneficial to those who are in a position to take advantage of them, they are not unfairly disadvantages to other classes of clients.B. Demonstrate how the credit risk management issue(s) in the Washington Mutual case can be resolved through the application of a risk management model
- Gerald Alexis has come to your bank, the First National Bank of (Your Jurisdiction)Limited, in order to encash a cheque for US $20,000. However, GA does not have anaccount at that bank. GA wishes to collect and depart with all of the cash. However,the bank's policy is that US Dollar cheques in excess of $10,000 must be deposited.For this reason, the bank advises GA to (1) open a bank account, chequing, anddeposit US$4000 into it and (2) to place the remaining US$16,000 into their MutualFunds investment scheme, which has been invested into BRIC countries (Brazil,Russia, India and China).Eight months later, GA visits the bank for an update on his money and investments because he has not been receiving statements in the mail and the staff of the bank have refused to give him any information over the telephone. The bank informs him and he is devastated to learn that the money in his chequing account has been reducedto US$3,616 (due to the monthly maintenance fee of US$24 and very little…Kim Kardashian borrowed $200,000 from Big Bank to buy inventory to sell in her make-up shop. She signed a security agreement for the bank listing the entire present and future inventory in the make-up shop, including proceeds from the sale of inventory as collateral. Big Bank never filed a financing statement. A month later, Kim borrowed $50,000 from Kanye Creditor, who was aware of Big Bank’s security interest. Kim Kardashian then defaulted on both loans and declared bankruptcy. Who has priority, Big Bank or Kanye Creditor?Firm A is having financial difficulties. It delivers goods to a carrier for shipment to a foreign buyer, obtains a Bill of Lading (BOL), and negotiates the document to the buyer. In the meantime, a creditor of the seller attempts to put a lien on the goods to satisfy it debt. In this example whose property claim to the delivered goods will prevail? a. Firm A b. The buyer c. the creditor d. They have equal claims and the dispute needs to be submitted to court for final resolution
- Crane Ltd issued $1,200,000 of 10years, 5% bonds on January 1,2024,when the market interest rate was 6%. crane received $1,110,740 when it issued these bonds. Interest is payable semi-annually on July 1 and January 1. crane has a December 31 year end. Assume that Crane has a December 31 year end. Calculate how much of the bond discount was amortized in 2024Can you please explain the following section, it is talking about Hong Kong Tax, Special Business, Financial Instituition Profit Tax Computaion. Can you lease explain the following paragraph in a simlier way and with simple example. S.15(1)(i) ◦ sums, not otherwise chargeable to tax under this Part (i.e. not chargeable under s.14), received by or accrued to a financial institution by way of interest which arises through or from the carrying on by the financial institution of its business in Hong Kong, notwithstanding that the moneys in respect of which the interest is received or accrues are made available outside Hong Kong ◦ Contrast to s.14: arising in or derived from HK What does “arises through or from” mean? ◦ Loan interest income is deemed taxable even though the loan is made available outside Hong Kong?Michelle took out a $900,000, 30-year mortgage. After 30 years, Michelle paid a total of $1,330,000 to the lender. How much did Michelle pay in interest over the life of the loan? $430,000 $530,0 $490,000 $455,000
- 1.A borrowed P30,000.00 from B to be paid on September 10, 2016, in exchange for the loan, A surrendered his Iphone7 to B as security. On September 11, 2016, B demanded that A pay the P30,000.00 loan. Since A do not have enough money, he just told B that B can just have his Iphone/ as payment for his loan to which B agreed. Is the contract extinguished? Explain . 2. A, B, C and D are the solidary debtors of X for 240,000. X released D from the payment of his share of P10,000. When the obligation became due and demandable, C turned out to be insolvent. Considering the said incidents, what are the liabilitites of A, B, C, and D? 3. Aida, Lorna and Fe borrowed money from Juan, Pedro and Mario P3,000.00. Aida's obligation is due today, September 5, 2019, Lorna is a minor and Fe's obligation is due on September 10, 2019. Can Pedro alone proceed against Lorna alone for the payment of the entire P3,000.00? Explain . 4.Explain and Give an example of the following modes of extinguishing an…John goes to a bar. Harry starts to talk to him about a car he has for sale. John tells him he wishes he could buy the car but does not have that much cash. Harry tells John he can make payments over the next year. Harry writes on a napkin John shall pay me $100.00 per month for 12 months starting December 1, 2018. They both sign and date the napkin. Discuss whether this is a negotiable instrument. Defend your position. Ensure you discuss each element of negotiability.After researching Best Buy common stock, Sally Wang is convinced the stock is overpriced. She contacts her account executive and arranges to sell short 550 shares of Best Buy. At the time of the sale, a share of common stock had a value of $148. Three months later, Best Buy is selling for $140 a share, and Sally instructs her broker to cover her short transaction. Total commissions to buy and sell the stock were $58. What is her profit for this short transaction?