Collateralized debt obligations: Pay out cash flows from mortgage-backed securities II: Have tranches or quot;bucketsquot; III: Have the…

/in /by

Collateralized debt obligations:

I: Pay out cash flows from mortgage-backed securities

II: Have tranches or “buckets”

III: Have the highest-rated tranche pay out first

A: I only

B: I & II only

C: II & III only

D: I, II & III

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