20) Legislation providing for the creation of REIT's in the United States occurred in a) 1992 b) 1998 c) 1960 d) 1973 21) If an equity REIT pays a dividend in excess of its AFFO, the REIT is required to disclose that information to the SEC. a) True b) False 22) A provision of the REIT Modernization Act of 1999 reduced the dividend payout requirement REITs from 95% to 90% consequently, most equity REITs reduced their dividends. a) True b) False 23) Public, non-exchange traded equity REITs are required by the SEC to report GAAP net incom a) True b) False 24) Each of the Wall Street REIT analysts utilizes the same methodology in calculating REIT AF a) True b) False 25) REIT's that are members of NAREIT exchange traded, are legally required disclose their FF a) True b) False 26) Most equity REITs generally do not disclose their own estimate of NAV to shareholders o analysts. a) True b) False 27) Shares of open-end mutual funds are purchased from the fund manager while shares of cl end mutual funds are purchased from existing shareholders. a) True b) False 28) In calculating NAV, Green Street Advisors uses an "Economic Cap Rate" that is differ capitalization rates used by appraisers, in that Green Street's capitalization rate is appli cash flow (NOI less capital expenses). a) True b) False 20) Legislation providing for the creation of REIT's in the United States occurred in a) 1992 b) 1998 c) 1960 d) 1973 21) If an equity REIT pays a dividend in excess of its AFFO, the REIT is required to disclose that information to the SEC. a) True b) False 22) A provision of the REIT Modernization Act of 1999 reduced the dividend payout requirement REITs from 95% to 90% consequently, most equity REITs reduced their dividends. a) True b) False 23) Public, non-exchange traded equity REITs are required by the SEC to report GAAP net incom a) True b) False 24) Each of the Wall Street REIT analysts utilizes the same methodology in calculating REIT AF a) True b) False 25) REIT's that are members of NAREIT exchange traded, are legally required disclose their FF a) True b) False 26) Most equity REITs generally do not disclose their own estimate of NAV to shareholders o analysts. a) True b) False 27) Shares of open-end mutual funds are purchased from the fund manager while shares of cl end mutual funds are purchased from existing shareholders. a) True b) False 28) In calculating NAV, Green Street Advisors uses an "Economic Cap Rate" that is differ capitalization rates used by appraisers, in that Green Street's capitalization rate is appli cash flow (NOI less capital expenses). a) True b) False