Please use the chart below to answer questions 9-15: A special purpose entity has issued the followed structure for a CMBS transaction: Bond Class Par Value Credit Rating Class A $150,000,000 AAA Class B $50,000,000 AA Class C $25,000,000 A Total $225,000,000 9)

a. At what level of loss would Class B experience a loss? a) $25MM b) $26MM c) $75MM

b. How would this structure above best be described? a) A pool of conforming mortgages as collateral. b) Senior/Subordinated Structure. c) All classes are guaranteed by a government-sponsored enterprise (