This module, which contains questions and answers regarding CFP Fundamental Principal topics covered in the CFP exam. Get the CFP exam preparation you need.
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These flashcards will cover these topics:
A. Commercial Paper – types of commercial paper, elements of a negotiable instrument, checks, CDs, trade acceptances, transfer vs. negotiation of instrument, types of endorsements, warranties upon transfer of commercial paper, bearer vs. order paper, holder in due course, holder through a holder in due course, defenses against holders, fraud in inducement vs. fraud in execution, dishonorment of a negotiable instrument, presentment, notice of dishonor.
B. Sales – UCC modifications to common law relating to an offer, acceptance and consideration, passage of title, risk of loss vs. passage of title, void or voidable title, property interest in goods, warranties in contract for sale of goods, express warranty, disclaimer of warranty liabilities, goods not conforming to contract, warranty of title, implied warranties, implied warranty of merchantability, implied warranty of fitness, UCC modifications relating to Statute of Frauds, defense of privity, product liability, sale vs. bailment, contract to sell vs. contract of sale.
C. Secured Transactions – 2 types of secured transactions, protection of interest in collateral, requirements for attachment, methods of perfecting a security interest, perfection by possession, perfection by filing a financing statement, purchase money security interest, different types of collateral, priority of claims between secured creditors, secured party’s rights upon default |
