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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 [...]

题目 Which of the following best describes the cash flow that owners of credit card receivable asset-backed securities receive during the lockout period? 选项 A.No cash flow B.Only principal [...]

题目 William Marolf obtains a 5 million EUR mortgage loan from Bank Nederlandse. A year later the principal on the loan is 4 million EUR and Marolf defaults on the loan. Bank Nederlandse [...]

题目 Which of the following investments is least subject to prepayment risk? 选项 A.Auto loan receivable–backed securities B.Commercial mortgage-backed securities (CMBSs) C.Non-agency [...]

题目 Which statement about covered bonds is least accurate? 选项 A.Covered bonds provide investors with dual recourse, to the cover pool and also to the issuer. B.Covered bonds usually carry [...]