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Basic Question 1 of 9

The senior-subordinate structure of a pass-through security is used to redistribute ______.

A. credit risk
B. prepayment risk
C. both credit risk and prepayment risk

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I was very pleased with your notes and question bank. I especially like the mock exams because it helped to pull everything together.
Martin Rockenfeldt

Martin Rockenfeldt

Learning Outcome Statements

describe securitization, including the parties involved in the process and the roles they play;

describe typical structures of securitizations, including credit tranching and time tranching;

CFA® 2024 Level I Curriculum, Volume 4, Module 45.