题目 For a mortgage pass-through security, which of the following risks most likely increases as interest rates decline? 选项 A.Balloon B.Extension C.Contraction 答案 C 解析 ： C is correct. [...]
题目 The creation of bond classes with a waterfall structure for sharing losses is referred to as: 选项 A.time tranching. B.credit tranching. C.overcollateralization. 答案 B 解析 ： B is [...]
题目 Securitization is beneficial for banks because it: 选项 A.repackages bank loans into simpler structures. B.increases the funds available for banks to lend. C.allows banks to maintain [...]
题目 In a securitization, time tranching provides investors with the ability to choose between: 选项 A.extension and contraction risks. B.senior and subordinated bond classes. C.fully amortizing [...]
题目 Collateralized mortgage obligations (CMOs) are designed to: 选项 A.eliminate contraction risk in support tranches. B.distribute prepayment risk to various tranches. C.eliminate extension [...]
题目 A benefit of securitization is the: 选项 A.reduction in disintermediation. B.simplification of debt obligations. C.creation of tradable securities with greater liquidity than the original [...]
题目 In credit card receivable ABSs, principal cash flows can be altered only when the: 选项 A.lockout period expires. B.excess spread account is depleted. C.early amortization provision is [...]
题目 If a default occurs in a non-recourse commercial mortgage-backed security (CMBS), the lender will most likely: 选项 A.recover prepayment penalty points paid by the borrower to offset losses. [...]
题目 Which of the following describes a typical feature of a non-agency residential mortgage-backed security (RMBS)? 选项 A.Senior\/subordinated structure B.A pool of conforming mortgages as [...]
题目 If interest rates increase, an investor who owns a mortgage pass-through security is most likely affected by: 选项 A.credit risk. B.extension risk. C.contraction risk. 答案 B 解析 ： B [...]
