Biology Forums - Study Force

Which of the following characteristics apply to collateralized mortgage obligations?

I.	All bondholders receive a pro-rata share of all interest payments.

II.	CMOs are derivative securities created from mortgage-backed bonds.

III.	All principal payments are paid to the shortest remaining tranche.

IV.	CMOs have definite maturity dates for each tranche.

▸ I and II only

▸ I and III only

▸ I, II and III only

▸ II, III and IV only

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