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Understanding Fannie Mae

Understanding Fannie Mae

Assessment

Interactive Video

Business

10th - 12th Grade

Practice Problem

Hard

Created by

Jennifer Brown

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary role of Fannie Mae in the housing market?

To buy mortgages from lenders and ensure market liquidity

To lend money directly to homebuyers

To provide affordable housing options

To regulate interest rates for all loans

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When was Fannie Mae founded and for what purpose?

In 1990, to offer low-interest loans

In 2008, to bail out failing banks

In 1938, to provide liquidity and stability in the housing market

In 1968, to regulate the housing market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What significant event in 2008 affected Fannie Mae?

It stopped buying mortgages

It merged with Freddie Mac

It was bailed out by the US Treasury

It was privatized

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does Fannie Mae guarantee loans in the primary market?

By lending money directly to borrowers

By offering insurance for all home loans

By buying loans from lenders and providing immediate cash

By setting interest rates for all mortgages

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a mortgage-backed security?

A loan given directly to homebuyers

A type of insurance for mortgages

A bundle of mortgages sold as a security on the bond market

A government bond issued to fund housing projects

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who typically purchases mortgage-backed securities?

Institutions like insurance companies and pension funds

Local governments

Individual homebuyers

Real estate agents

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the minimum credit score typically required for a Fannie Mae-backed loan?

500

620

750

700

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