1. High LTV is the best predictor of if a mortgage defaults. 2. In terms of size, what the U.S. Commercial Real Estate (CRE) Market as a percent of the largetst CRE markets globally? 3. The AAA subordination level of a typical CMBS 2.0 securitization (increased / decreased) compared to CMBS 1.0. 4. List the four quadrants of Commercial Real Estate Capitalization from smallest to largest. 5. _____ have local market knowledge on the mortgages they write to borrowers that are included in CMBS pools. 6. How much does public equity comprise of the total U.S. CRE capital markets? 7. How does the portfolio lender's relationship with the borrower differ from a CMBS investor? 8. The receives information on the property delayed and second-hand. 9. ___ is concentrated by tranching. 10. The typical CMBS 1.0 structure included four investment grade tranches. What tranche evolved and split into two separate subtranches from CMBS 1.0 to CMBS 2.0