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dvilayphet

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tT
发表于 2011-7-13 16:17 | 只看该作者

CFAI MOCK PM Q16

Hey,

Can someone please help me with this:

"The manager is currently concerned about credit risk but states that, “Although I’m concerned because some non-agency issuers have more credit risk than Fannie Mae and Freddie Mac, credit enhancement can be used to achieve a credit rating equal to that of Fannie and Freddie securities.”

Don't ALL non-agency issues have more risk that Fannie Mae and Freddie Mac. FM have the implicit guaranty of the government so what am I missing here?
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tarunajwani

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发表于 2011-7-13 16:17 | 只看该作者
I marked it as correct and I remember I'm correct. Those non-agency issues surely have more credit risk but they still can get a AAA rating, which is the rating for Fannie Mae and Freddie Mac, so nothing's wrong with it. So basically I think that the AAA rating for Fannie Mae and Freddie Mac don't matter much coz they have the government behind them.

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senlinlang

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发表于 2011-7-13 16:17 | 只看该作者
i just remember that credit enhancement can be used to achieve a credit rating of an agency issuer

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tianxin

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4#
发表于 2011-7-13 16:17 | 只看该作者
I think the key thing I was missing here was the word "rating".. Thanks guys

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