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The first tranche of a collateralized mortgage obligation has a. the greatest default risk and the least prepayment risk. b. the greatest prepayment risk and

The first tranche of a collateralized mortgage obligation has

  1. a.

    the greatest default risk and the least prepayment risk.
    b.

    the greatest prepayment risk and default risk.
    c.

    the greatest prepayment risk and the least default risk.
    d.

    the least prepayment risk and default risk.

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