Which of the Following Statements Is FALSE

question 40

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;the Student Loan Marketing Association ("Sallie Mae")is an example of a government-sponsored agency.
• 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.

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Definitions:

Account Balance

The amount of money in a financial repository at any given moment, which can include bank accounts or credit accounts.

NSF Check

A check that cannot be processed due to insufficient funds in the account it's drawn from, often resulting in a fee.

Bank Statement

A summary issued by a bank detailing all transactions in an account over a specified period.

Outstanding Checks

Checks that have been written and recorded in the check issuer's accounting system but have not yet been cashed or cleared by the bank.