53. Most bankers acceptances arise in international transactions between exporters and importers.

A. The accepting bank can be either a U.S. or a foreign bank

B. The transaction can be denominated in any currency.

C. The accepting bank earns a fee for providing the letter of credit, typically between 0.1 and 0.25 percent of the face amount.

D. All of the above

E. A and C only

54. Mortgage markets bring together borrowers and suppliers of longterm funds. Mortgage markets offer features superior to mortgage loans, because original mortgage loans:

A. are always secured by the pledge of real estate as collateral

B. are made for varying amounts and maturities.

C. loans lack uniform size, so individual mortgages are not readily marketable in secondary markets.

D. All of the above.

E. A and B only.