1- In accretion / dilution:

		a- Paying with equity may be more accretive than paying with debt if cost of debt is very high
		b- Paying with equity is always more dilutive than debt
		c- Paying with debt is always more accretive than debt
		d- None of the other answers is correct

2-

The difference between tranches in CDOs and CDSs is

		a- The SPVs that issue them have different type of assets
		b- One issues insurance, the other issues securities
		c- None of the others is correct
		d- One is insured, the other not