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65. Consider the following four CMO structures: Holding all other factors constant, which PAC tranche has the most protection against prepayment risk? CMO A CMO

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65. Consider the following four CMO structures: Holding all other factors constant, which PAC tranche has the most protection against prepayment risk? CMO A CMO B CMO D PAC tranche $800 $700 $500 $200 Support tranche $200 $300 $500 $800 A. A or B B.C C.D

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