Q1. Which of the following statements regarding asset securitizations and special purpose entities (SPEs) is most accurate? A) When receivables are securitized, the sponsor reports the cash inflow as an investing activity in the cash flow statement. B) If the sponsor has no recourse, then the transaction is nothing more than a collateralized borrowing. C) The SPE usually issues debt to purchase receivables from the sponsor.
Q2. Which of the following statements regarding special purpose entities (SPEs) is most accurate? A) According to IASB, one indication of control is when a sponsoring entity has a residual interest in the SPE. B) According to U.S. GAAP, a variable interest entity (VIE) could be a SPE that has at-risk equity that is sufficient to finance its own activities without additional financial support. C) According to U.S. GAAP, if a SPE is considered a VIE, it must be only consolidated by the entity that absorbs the majority of the risks.
Q3. Which of the following statements regarding qualifying special purpose entities (QSPE) is most accurate? A) Under IFRS, the sponsor can avoid consolidating asset securitizations by creating a QSPE. B) A QSPE can hold only certain financial and non-financial assets. C) The QSPE has total control of the assets transferred from the sponsor.
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发表于 2009-1-8 11:03
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