答案和详解如下： 6.A corporation may issue asset backed securities because: A) All of the reasons are valid. B) it wants to change the structure of its balance sheet. C) it wants to speed up cash flows from the assets. D) it wants to reduce the cost of borrowing. The correct answer was A) All of the reasons are valid.
7.Which of the following statements concerning asset-backed securities (ABSs) is FALSE?
A) Typical assets to securitize are auto loans and credit card receivables. B) The assets are typically placed in a special purpose vehicle to shield them from the firm's creditors. C) ABSs typically have lower debt ratings than the firm's other borrowings. D) The asset-backed pool may be overcollateralized to provide a credit enhancement. The correct answer was C) The objective of the firm with an ABS issue typically is to get a higher debt rating (a lower cost of borrowing). Typically, the ABS has a higher debt rating, perhaps because of credit enhancements.
8.There are several types of external credit enhancements. All of the following are examples of external credit enhancements EXCEPT:
A) corporate guarantees. B) letters of credit. C) bond insurance. D) setting aside reserve funds. The correct answer was D) Setting aside reserve funds is an example of internal, not external credit enhancement. | 
发表于 2008-4-9 14:11
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