A is corrent because statement II is the only correct one. Filing a financing statement lasts for five years and can be continued with a continuation statement if filed within six months of expiration. Financing statements can be refiled for each new five-year period.
B is incorrect because statement II is correct and statement I is incorrect. Statement I is not a requirement for attachment of a security interest to occur. Filing a financing statement is one way to perfect an attached security interest. Attachment needs to occur prior to perfection or simultaneously with perfection.
C is incorrect because statement II is correct and statement I is incorrect. Filing a financing statement lasts for five years and can be continued with a continuation statement if filed within six months of expiration. Financing statements can be refiled for each new five-year period.
D is incorrect because statement I is not a requirement for attachment of a security interest to occur. Filing a financing statement is one way to perfect an attached security interest. Attachment needs to occur prior to perfection or simultaneously with perfection.
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