An MBB Differs from a CMO or a Pass-Through in That

An MBB differs from a CMO or a pass-through in that
I. the MBB does not result in the removal of mortgages from the balance sheet.
II. a MBB holder has no prepayment risk.
III. cash flows on a MBB are not directly passed through from mortgages.

A) I,II,and III
B) I and II only
C) II and III only
D) I and III only
E) I only