Series 7 Exam Question 276: Answer and Explanation

Question: 276

Which of the following securities is/are directly backed by the U.S. government?

I. GNMA

II. FNMA

III. FHLMC

  • A. I only
  • B. I and II
  • C. II and III
  • D. I, II and III

Correct Answer: A

Explanation:

A. Out of all of the choices listed, the only one directly backed by the U.S. government is GNMA (a.k.a Ginnie Mae, or the Government National Mortgage Association).

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