1. 16)Answer the below questions with True / False

(a)A commercial mortgage has lower prepayment risk compared to a residential mortgage (T/F)

(b)A bearish bet on home ownership would involve buying homebuilders and shorting single family REITs and going long interest rate risk with Treasury futures. (T/F)

(c)PE vehicles provide lower volatility and more liquidity versus public equity real estate vehicles. (T/F)

(d)The J-Curve Effect related to the fact that private equity returns are negative in the early years due to investment management fees and capital prior to value creation (T/F)