Which of the following statements is true concerning collateralized mortgage obligations (CMOs)? 1. Many CMOs were rated higher than the underlying assets probably warranted ll. Few, if any, CMOs were insured with credit default swaps Il. CMOs, unlike other collateralized debt obligations, were not traded in the "shadow banking" system Select one: OA. I only B. Il only C. Ill only D. 1 and Il only E. Il and IlIl only