Part One:

Consider a $200 million pass-through backed by FRMs with a WAC rate of 7.75%, pass-through rate of 7.0% and WAM of 358 months. In Month 1, the pass-through will pay the interest amount of

Question 4 options:

	$1,166,667
	$1,291,667
	$1,375,000
	$1,416,667

Part Two:

The scheduled principal payment by the pass-through from the previous questions in Month 1 is

Question 5 options:

	$41,130
	$143,190
	$166,130
	$268,190

Part Three:

The SMM in Month 1 in the assumption of 200 PSA will be

Question 6 options:

	0.017%
	0.032%
	0.050%
	0.055%