[Solved] The financial crisis occurred in 2008 in large part because of losses on securities consisting of bundles of mortgage loans known as A)home loan loss reserves. B)credit default swaps. C)mortgage-backed securities. D)naked put options. Managerial Efficiency: The effectiveness with which managers utilize resources and operate businesses to achieve desired outcomes and profitability. Security Registration: The legal process through which securities are registered with relevant authorities before being offered to the public or placed on the market. Best Efforts Basis: A best efforts basis is an agreement where an underwriter commits to sell as much of a new securities offering as possible, but not to buy any unsold securities. Public Offering Price: The price at which new issues of stocks or bonds are offered to the public by an issuer for the first time.