Interest Rate Fixed Mortgage Interest Rate Fixed Mortgage Interest Rate Fixed Mortgage Payday

Interestratefixedmortgage T Interest Szh 1 Interest Rate Fixed Mortgage [2012 L2] Fixed Income【Session 15- Reading 51】Sample - 【Fixed Income】 - 【CFA Level 2 试题精选】 - CFA论坛 - Powered by CFAspace.com

Interestratefixedmortgage T Interest Szh 1 Interest Rate Fixed Mortgage

Szh 0 Interest 2 Interestratefixedmortgage 4 Interestratefixedmortgage 2 Interest nsearchs Interest ;

CFA Candidates

UID
223241 
帖子
248 
主题
94 
积分
1127 
注册时间
2011-7-11 
最后登录
2012-4-2 
62#
发表于 2012-4-2 18:27 | 只看该作者
2012年12月CFA一级培训课程面授班、网络班热招中 | 【北京金牌名师班】2012年12月CFA一级金牌名师班北京热招中
A distinguishing characteristic of a commercial mortgage-backed security (CMBS) as compared to residential mortgages is:
A)
Residential mortgages are non-recourse.
B)
Both CMBS and residential mortgages are non-recourse.
C)
CMBS are non-recourse.


CMBS are non-recourse. Residential mortgages are recourse, meaning that the lender can go back to the homeowner for payment if the collateral is insufficient.

TOP

JustasS 当前离线

UID
223241 
帖子
248 
精华
0 
积分
1127 
阅读权限
30 
在线时间
87 小时 
注册时间
2011-7-11 
最后登录
2012-4-2 

UID
223241 
帖子
248 
主题
94 
积分
1127 
注册时间
2011-7-11 
最后登录
2012-4-2 
63#
发表于 2012-4-2 18:27 | 只看该作者
Which of the following statements is most accurate concerning the effect of defeasance on the quality of a Commercial mortgage-backed securities (CMBS) loan pool? Defeasance:
A)
increases the quality of a CMBS loan pool by requiring fees for late payments.
B)
decreases the quality of a CMBS loan pool by selling some of the pool as payments come due.
C)
increases the quality of a CMBS loan pool by reinvesting any prepayments in Treasury securities.


Defeasance increases the quality of a CMBS loan pool by reinvesting any prepayments in Treasury securities.

TOP

JustasS 当前离线

UID
223241 
帖子
248 
精华
0 
积分
1127 
阅读权限
30 
在线时间
87 小时 
注册时间
2011-7-11 
最后登录
2012-4-2 

UID
223241 
帖子
248 
主题
94 
积分
1127 
注册时间
2011-7-11 
最后登录
2012-4-2 
64#
发表于 2012-4-2 18:28 | 只看该作者
Commercial Mortgage-Backed Securities (CMBS) provide structural call protection through which of the following key repayment terms?
A)
Sequential repayment of the CMBS tranches and the allocation of losses of principal to specific tranches, rather than to the CMBS overall.
B)
Losses of principal are allocated to specific tranches, rather than to the CMBS overall.
C)
Sequential repayment of the CMBS tranches.


CMBS securities provide structural call protection through sequential repayment of the CMBS tranches, as well as the allocation of losses of principal to specific tranches rather than to the overall CMBS.

TOP

JustasS 当前离线

UID
223241 
帖子
248 
精华
0 
积分
1127 
阅读权限
30 
在线时间
87 小时 
注册时间
2011-7-11 
最后登录
2012-4-2 

UID
223241 
帖子
248 
主题
94 
积分
1127 
注册时间
2011-7-11 
最后登录
2012-4-2 
65#
发表于 2012-4-2 18:28 | 只看该作者
Which of the following regarding key credit enhancement features of defeasance as prepayment protection is least accurate?
A)
No distributions are made when the defeasance takes place, so there is no issue concerning how prepayment penalties will be disbursed.
B)
The duration of the defeasance funds reduces the credit risk of the commercial mortgage-backed securities (CMBS).
C)
The cash flow from the defeasance funds is substituted for payments made by the borrower.


Duration is related to interest rate risk; it is not related to credit risk.

TOP