答案和详解如下： 1.Charles Jong is preparing a paper on the European residential mortgage-backed securities market to be presented during a session at an upcoming economic conference. Jong’s paper contains the following statements. Statement 1: | Unlike the market in Europe where the majority of the mortgage debt is funded with retail deposits, most of the U.S. mortgage debt is funded with securitized and agency debt. | Statement 2: | The availability of loan servicing providers is important to the future growth of the whole loan sales market in Europe. | Statement 3: | The greatest obstacles to growth of the European mortgage-backed securities market are the inconsistencies in the availability of data and the associated lack of standardized credit scoring systems. |
Which of the following is most accurate regarding Jong’s statements?
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Statement 1
| Statement 2
| Statement 3
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A) Incorrect Incorrect Incorrect B) Correct Incorrect Incorrect C) Correct Incorrect Correct D) Correct Correct Correct The correct answer was D) All of the statements are accurate. 2.The following comments were made during a panel discussion at an international conference on mortgage-backed securities. Comment 1: | The availability and standardization of mortgage loan data is consistent within any given country in Europe. | Comment 2: | The regulatory and cultural differences that exist among the European countries contribute to the relatively slow growth of Europe’s whole loan market. | Comment 3: | Data availability and standardized credit scoring systems represent the major impediments to the growth of Europe’s mortgage-backed securities market. |
Which of the following most accurately represents the accuracy of these comments?
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Comment 1
| Comment 2
| Comment 3
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A) Incorrect Incorrect Incorrect B) Correct Incorrect Incorrect C) Incorrect Correct Correct D) Correct Correct Correct The correct answer was C) Statement 1 is incorrect because not only is the availability and standardization of mortgage loan data inconsistent among the countries of Europe, there are often significant inconsistencies within a given European country. 3.Which of the following countries has the largest residential mortgage-backed securities market in Europe? A) The Netherlands B) The United Kingdom C) Italy D) Germany The correct answer was B) The United Kingdom has the largest residential mortgage-backed securities market in Europe and is also experiencing growth in its whole loan sales market. 4.Which of the following represents the greatest impediment to growth of the European mortgage-backed securities market? A) The lack of firms with expertise in loan servicing. B) Cultural differences among the countries of Europe. C) The availability of loan data and standardized credit scoring systems. D) Regulatory differences among the countries of Europe. The correct answer was C) The major impediments to the growth of the mortgage-backed securities market in Europe are the availability of data and standardized credit scoring systems. The availability and standardization of mortgage loan data is inconsistent from one European country to the other. Furthermore, there may be a significant difference in data standardization and availability within a given European country.
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发表于 2008-5-20 15:08
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