Mortgage$-$backed bonds $($MBB$)$ differ from pass$-$throughs and CMOs in which of the following ways?

Question $37$ options:

$1)$

The MBB bondholders have a junior claim to assets of the FI$.$

$2)$

There is no direct link between the cash flow on the mortgages backing the bond and the interest and principal payments on the MBB$.$

$3)$

The assets backing a MBB issue are normally removed from the balance sheet of the FI$.$

$4)$

Tranches of a MBB are treated equally with respect to prepayments on mortgages backing the bond issue.

$5)$

None of the options.