For each of the following questions determine if the statement is true or false (no explanation required).

Add on money market instruments are sold at a discount from par value.

The yield on overnight repurchase agreements (repos) is generally lower than the corresponding fed funds rate.

In 2008, FNMA and GNMA were placed into conservatorship.

You would be more likely to borrow through an ARM if you believed that interest rates were going to increase.

The Veterans Administration (VA) guarantees mortgage loans to (mostly) low income households.