Due to suitability requirements, direct participation programs are generally only sold to:

While regular corporations are subject to double taxation, direct participation programs (DPPs) have a pass-through taxation model. This means that:

Through this illiquid investment structure, investors can pool their money together to acquire a single large real property asset:

Shares of this type of real estate investment trust (REIT) are traded on national securities exchanges:

All of the following are true about real estate investment trust (REIT) suitability except:

Equity REITs acquire and manage commercial real estate properties. Once the costs of operating these properties are met, they must pay out at least ___ percent of their income to shareholders:

Unlike Equity REITs, Mortgage (or Debt) REITs:

Most U.S. hedge funds are structured as limited partnerships. Which of the following is true about this structure?

I. Fund managers act as general partners and investors act as limited partners

II. Investors act as general partners and fund managers act as limited partners

III. General partners have unlimited liability while limited partners are only liable up to the amounts they invest

IV. Limited partners have unlimited liability while general partners are only liable up to the amounts they invest

Most hedge funds require investors to keep their money invested for a period of time before they can make withdrawals, known as the:

Investors generally must be accredited to invest in a hedge fund. Which of the following would be considered an accredited investor?

I. I. An individual with a net worth of $1,250,000

II. A couple with a net worth of $1,500,000

III. An individual with annual income of $250,000 for the past 3 years

IV. A couple with annual income of $400,000 for the past 3 years