Which One of the Following Is Required for the Cash

question 3

Multiple Choice

Which one of the following is required for the cash flows on a PAC bond to be predictable?

• A)market interest rates must remain constant
• B)market interest rates must steadily decline
• C)mortgage prepayments must remain within the PAC collar
• D)PAC support bonds must be prepaid in a timely manner
• E)mortgage prepayments must exceed the specified PSA schedule

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