单选题 Which of the following statements regarding mortgage-backed securities (MBS) and collateralized mortgage obligations (CMOs) is most likely correct? A. MBS are created from CMOs. B. Creating CMOs does not reduce the overall prepayment risk of a mortgage pass through security. C. The prepayment option of an MBS benefits the security holder.

【正确答案】 B

【答案解析】Creating a CMO can redistribute the prepayment risk among the tranches, but it does not alter the overall prepayment risk of a mortgage passthrough security. CMOs are created from MBS.