- CFA Exams
- CFA Level I Exam
- Study Session 14. Fixed Income (1)
- Reading 45. Introduction to Asset-Backed Securities
- Subject 6. Commercial Mortgage-Backed Securities
CFA Practice Question
Which of the following offers call protection to CMBS?
A. The non-recourse clause of commercial loans
B. The sequential-pay structure available in CMBS transactions
C. Balloon maturity provisions
Explanation: The sequential-pay structure is the call protection offered in CMBS transactions.
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