1. A pass-through security is best characterized as
a multiclass mortgage-backed bond.
a security with a pro rata claim to the underlying pool of assets.
a bond backed by real estate.
a part of a loan assignment.
a part of a loan participation.
2. When estimating earnings and cash flows what are some possible sources and methods?
Experience and history with current or recent similar projects.
Market Testing
Scenario Analysis
All of the above.