Please answer the following multiple choice questions.

4. Defeasance a. Allows CMBS borrowers to sell properties without any prepayment penalties, unlike yield maintenance requirements b. Concept which allows REIT unsecured debt to be fully prepayable without penalties c. Allows CMBS borrowers to substitute a RE property of their choice to replace the sale of a CMBS property d. Provides no options to prepay a loan in advance of the maturity date e. Permits CMBS borrowers to submit qualified U.S. government securities to substitute for the sold Real Estate property f. None of the above 5. Dodd Frank required a 5% Retention on the total CMBS Issuances. Assuming a CMBS with Real Estate values of $1.5 billion supporting total loans and bonds at a 60% LTV and where the AAA bonds are $810 million and the B piece $63 million the other tranches $27 million, the required Retention by Dodd Frank is: a. $75 million b. $45 million c. $3.15 million d. $40.5 million e. $1.35 million