25. A REIT: a. is a closed end mutual fund investing in real estate b. is an open end mutual fund investing in real estate c. is generally classified as either a mortgage or equity REIT, but not both d. allows small investors the ability to invest in real estate given they can make a large initial investment 26. When treasury bond auction bids are placed and they are competitive the following is true: a. only the dollar amount to be purchased is specified b. the quantity demanded is specified but not the dollar amount c. the timing of the bid is clearly stated so that the bid is given preference d. none of the above are true 27. Treasury 'STRIPS' is short for 'separate trading of returns and investment in principle securities': a. true b. false