NO.PZ2020033002000071
问题如下：
A collateralized bond obligation (CBO) has several tranches with corporate bonds as the underlying assets. Which of the following statement least accurately describe these tranches?
选项：
A.The total yield of all the CBO tranches is slightly less than the underlying repackaged bonds to allow the issuer to recover their fees/costs/profits.
B.The super-senior tranche has highest yields.
C.The super-senior tranche is typically rated AAA.
D.The equity tranche absorbs the first losses of the structure.
解释：
B is correct.
考点：CDO
解析：
The super-senior tranche has the highest credit ratings and the lowest yields.
麻烦解释一下A选项
