- CFA Exams
- CFA Level I Exam
- Study Session 12. Equity Investments (1)
- Reading 36. Market Organization and Structure
- Subject 2. Assets and Contracts
CFA Practice Question
A closed-end investment company that invests in various types of real estate and/or real estate mortgages is called a ______.
A. property annuity
B. real property mutual fund
C. REIT
Explanation: REITs securitize real estate assets and facilitate indirect investment in real estate markets.
User Contributed Comments 2
| User | Comment |
|---|---|
| timkalt | Are REITs always closed-end? I was focusing on this aspect. |
| sevywonder | @Tim That threw me for a loop too, but it definitely isn't a property annuity, and RPMFs are excluded per prospectus from investing in mortgages |