问题如下：
Which of the following is most likely an advantage of collateralized mortgage obligations (CMOs)? CMOs can
选项：
A. eliminate prepayment risk.
B. be created directly from a pool of mortgage loans
C. meet the asset/liability requirements of institutional investors.
解释：
C is correct.
Using CMOs, securities can be created to closely satisfy the asset/liability needs of institutional investors. The creation of a CMO cannot eliminate prepayment risk; it can only distribute the various forms of this risk among various classes of bondholders. The collateral of CMOs are mortgage-related products, not the mortgages themselves.
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