Choice "B" is correct. For a security interest to attach, three elements must coexist. There must be an agreement to create a security interest (either an authenticated record of the agreement or the creditor's having either possession or control of the collateral), the secured party must give value for the interest, and the debtor must have rights in the collateral. Here, all elements existed on March 10: the parties agreed to create a security interest on March 5, the secured party gave value on March 10, and the debtor obtained an interest in the collateral on March 10 when the debtor picked up (took title to) the car.Choices "d" and "a" are incorrect as per the above.
Choice "c" is incorrect. A security agreement need not be filed for a security interest to attach to collateral. Filing (typically of a financing statement) is a method of perfection of a security interest. Here, filing would not even be sufficient for perfection because a security interest in certificate of title property, such as a car, can be perfected only by notation on the certificate of title.