2008 CFA Level 1 － Sample 样题(3)－Q2 rating, purpose, created, another, class

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2、Jasper Corporation sold its receivables to another corporation, JTL, created by Jasper for that purpose. If JTL sells securities backed by the receivables, the credit rating associated with those securities will most likely be based on the:

A. creditworthiness of JTL.

B. creditworthiness of Jasper.

C. collateral and credit enhancement mechanisms used.

D. allowance for doubtful accounts recorded on the consolidated balance sheet.

 

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答案和详解如下：

2、Correct answer is C

"Overview of Bond Sectors and Instruments," Frank J. Fabozzi

2008 Modular Level I, Vol. 5, pp. 328-330

Study Session 15-64-i

define an asset-backed security, describe the role of a special purpose vehicle in an asset-backed securities transaction, state the motivation for a corporation to issue an asset-backed security, and describe the types of external credit enhancements for asset-backed securities

The rating of asset-backed securities typically is independent of the issuer or originating firm's credit; the rating depends on the collateral offered and the strength of any external or internal credit enhancements.

 

xinli80

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magiceden

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