Which of the Following Statements Is FALSE

question 38

Multiple Choice

Which of the following statements is FALSE?

• A)Mortgage-backed securities,such as GNMAs,are pass-through securities.That is,each security is backed by an underlying portfolio or pool of mortgages.
• B)The Government National Mortgage Association (GNMA,or "Ginnie Mae")is an example of an enterprise backed by the government,but owned privately;the Student Loan Marketing Association ("Sallie Mae")is an example of a government-sponsored agency,a wholly owned subsidiary of the U.S.government.
• C)Sovereign debt is debt issued by national governments.
• D)Agency securities are issued by agencies of the U.S.government or by U.S.government-sponsored enterprises.

---

Definitions:

Controllable Variance

The difference between actual and expected outcomes that can be directly managed or influenced by a responsible party.