An IRS code criteria for a REIT to qualify as a tax-free entity is:

Question 9 options:

1)	it can not issue transferable shares

2)	it may be a financial institution or insurance company

3)	it must derive at least 75% of its gross income from real estate related investments

4)	it may not hold all of its assets in the form of mortgages

Question 10 (2 points)

Land loans are considered to be:

Question 10 options:

1)

risky

2)	tax beneficial

3)

non-risky

4)	none of the above

Question 11 (2 points)

The investor of a property may give a portion of the increase in value of the property in exchange for:

Question 11 options:

1)	a share of the cash flows

2)	a lower rate of interest from a lender

3)	a greater share of the title to the property

4)	none of the above

Question 12 (2 points)

A rolling option gives the developer the right to roll the option from one property which he has decided not to purchase to another property.

Question 12 options:

	1) True
	2) False