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