15. The two principal types of REITs are equity trusts which __and mortgage trusts which A invest directly in real estate, invest in mortgage and construction loans B. invest in mortgage and construction loans, invest directly in real estate C. use extensive leverage; distribute less than 95% of income to shareholders D. distribute less than 95% of income to shareholders, use extensive leverage 16. A contingent deferred sales charge is commonly called a A front-end load B. back-end load C. 126-1 charge D. top end sales commission are partnerships of investors with portfolios that are larger than most individual investors but are still too small to warrant managing on a separate basis. A Commingled funds B. Closed-end funds C. REITS D. Mutual funds 11. Private placements can be advantageous rather than public issue because I. Private placements are cheaper to market than public issues II. Private placements may still be sold to the general public under SEC Rule 144A III. Privately placed securities trade on secondary markets A. I only B. I and III only C. II and III only D. I, II and