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* 1. The callable or prepayable security… 
  1. will have similar price/yield relationship as comparable option-free bonds in a market where the option is unlikely to be exercised
  2. is likely to be exercised if the coupon is lower than the market yield
  3. will have similar price/yield relationship as comparable option-free bonds in a market where the option is likely to be exercised
  4. is unlikely to be exercised if the coupon is lower than the market yield

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* 2. An investor paid $1.5 million for a property that has produced an annual effective gross income of $77,000 and net cash flow of $60,000.  The property was sold in month 12 at $1,800,000 with a depreciated book value of $1,250,000. 

Which of the following is the investor's total return?

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* 3. Who is responsible for all of the following?
  • Adherence to Pooling and Servicing Agreement (PSA) provisions
  • General billing and collecting monthly payments
  • Escrow and reserve monitoring, property inspections, asset management of performing loans
  • Collecting property and borrower financial statements
  • Investor reporting

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* 4. Which of the following are hybrid securities? 
  1. Participating First Mortgage
  2. Mezzanine Financing
  3. Convertible Bond
  4. First Mortgage Debt

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* 5. Which entity simultaneously accumulates and transfers mortgages to a trust with the issuance of securities to certificate holders?

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* 6. Please provide your contact information. 

0 of 6 answered
 

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