问一道题：NO.PZ2018062020000032

NO.PZ2018062020000032 问题如下 In auto loABSs,the form of cret enhancement thmostlikely serves the first line of loss protection is the: A.excess spreaccount. B.sequentipaystructure. C.procee fromrepossession sales. A is correct.In aition to a senior/subornate(sequentipay) structure, many auto loABSs are structurewithaitioncret enhancement in the form of overcollateralization an reserve account, often excess spreaccount. The excess spreis amount thcretaineanepositeinto a reserve account thcserve a firstline of protection against losses.B isincorrebecause in auto loABS, losses are typically applieagainst the excess spreaccount anthe amount ofovercollateralization before the waterfall loss absorption of thesequentipstructure.C is incorrebecause in auto loABSs,procee from the repossession anresale of autos are prepayment cash flows rather tha form ofcret enhancement for loss protection.考点auto loABSs解析车贷有很多信用增级方式，能够作为第一道防线的是excess sprea 这道题怎么理解，老师好像没讲这个知识点吧还有b是啥意思来着？突然忘记了

sequentipaystructure. procee fromrepossession sales. A is correct.In aition to a senior/subornate(sequentipay) structure, many auto loABSs are structurewithaitioncret enhancement in the form of overcollateralization an reserve account, often excess spreaccount. The excess spreis amount thcretaineanepositeinto a reserve account thcserve a firstline of protection against losses. B isincorrebecause in auto loABS, losses are typically applieagainst the excess spreaccount anthe amount ofovercollateralization before the waterfall loss absorption of thesequentipstructure. C is incorrebecause in auto loABSs,procee from the repossession anresale of autos are prepayment cash flows rather tha form ofcret enhancement for loss protection. 老师为什么b不对？ 谢谢

sequentipaystructure. procee fromrepossession sales. A is correct.In aition to a senior/subornate(sequentipay) structure, many auto loABSs are structurewithaitioncret enhancement in the form of overcollateralization an reserve account, often excess spreaccount. The excess spreis amount thcretaineanepositeinto a reserve account thcserve a firstline of protection against losses. B isincorrebecause in auto loABS, losses are typically applieagainst the excess spreaccount anthe amount ofovercollateralization before the waterfall loss absorption of thesequentipstructure. C is incorrebecause in auto loABSs,procee from the repossession anresale of autos are prepayment cash flows rather tha form ofcret enhancement for loss protection. 想请老师把几个的帮忙翻译一下。