Which of the following is not true about Mortgage Backed Securities(MBS) and Collateralized Mortgage Obligations (CMO) O A. To hedge default risk on MBS, investors used CMOs as a hedge instrument OB. Risk exposure includes prepayment OC. A CMO is a security organized of a pool of mortgage loans, divided into tranches with different interest rates and maturities, and issued based on those tranches OD. Many CMOs are guaranteed by government agencies or insurance contracts which can lead to systemic failures