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Ch 7 · Securitization — CA Final AFM

4 levels · 57 questions · free

Getting the game ready…

How to play

Mixed questions from this chapter — fill the missing term, sort into the right box, match the pairs, order the steps, or catch the formula that is wrong.

What this drills

Everything here is a list an examiner can ask for directly, and the two that decide marks are participants (primary vs secondary) and instruments (PTC vs PTS).

✓Features of securitization
✓Primary and secondary participants
✓The securitization mechanism
✓PTC, PTS and stripped securities

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Ch 7 · Securitization — questions

What is the key difference between a PTC and a PTS?+

The mechanics of principal repayment. In a Pass Through Certificate every investor receives a pro-rata share of each principal and interest payment, and all securities terminate together. In a Pay Through Security the issuer owns the receivables and sells debt against them, so cash flows can be restructured into several tranches with different maturities.