题目 In a securitization, the special purpose entity (SPE) is responsible for the: 选项 A.issuance of the asset-backed securities. B.collection of payments from the borrowers. C.recovery of [...]
题目 An excess spread account incorporated into a securitization is designed to limit: 选项 A.credit risk. B.extension risk. C.contraction risk. 答案 A 解析 ： A is correct. An excess spread [...]
题目 A balloon payment equal to a mortgage’s original loan amount is a characteristic of a: 选项 A.bullet mortgage. B.fully amortizing mortgage. C.partially amortizing mortgage. 答案 A 解析 [...]
题目 The longest-term tranche of a sequential-pay CMO is most likely to have the lowest: 选项 A.average life. B.extension risk. C.contraction risk. 答案 C 解析 ： C is correct. For a CMO [...]
题目 Fran Martin obtains a non-recourse mortgage loan for $500,000. One year later, when the outstanding balance of the mortgage is $490,000, Martin cannot make his mortgage payments and defaults [...]
题目 If a mortgage borrower makes prepayments without penalty to take advantage of falling interest rates, the lender will most likely experience: 选项 A.extension risk. B.contraction risk. [...]
题目 Which type of asset-backed security is not affected by prepayment risk? 选项 A.Auto loan ABSs B.Residential MBSs C.Credit card receivable ABSs 答案 C 解析 ： C is correct. Because [...]
题目 The CDO tranche with a credit rating status between senior and subordinated bond classes is called the: 选项 A.equity tranche. B.residual tranche. C.mezzanine tranche. 答案 C 解析 ： C [...]
题目 The tranches in a collateralized mortgage obligation (CMO) that are most likely to provide protection for investors against both extension and contraction risk are: 选项 A.planned [...]
题目 Compared with the weighted average coupon rate of its underlying pool of mortgages, the pass-through rate on a mortgage pass-through security is: 选项 A.lower. B.the same. C.higher. 答案 A [...]
