Which of the Following Statements Is FALSE

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.