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A $350 million collateralized debt obligation (CDO) was recently issued by a large Wall Street firm. The portfolio manager will actively manage the underlying assets, and will sell assets periodically in order to generate the cash flow necessary to pay the CDO’s tranches as outlined in the prospectus. This type of CDO is most appropriately described as a: A. arbitrage-driven cash CDO. B. market value CDO. C. cash flow CDO. |