1. A real estate investment in a fund that allows investors to increase diversification in direct real estate holdings by investing in groups of projects:
   1. Outright ownership
   2. Leveraged Equity Position
   3. Mortgages
   4. Aggregation Vehicles
2. True or False: In a Plain Vanilla Single Currency Interest Rate Swap, one party to the Swap will typically a Fixed Interest Rate while the counterparty will pay an Interest Rate index to a Variable Rate +/- a Spread.
3. Match the term with the correct statement:

Debt Service Coverage Ratio

Loan to Value

Capitalization Rate

NOI

A.	NOI / Debt Service
B.	NOI / Property Value
C.	Loan Amount / Property Value
D.	Rental income reduced by cash operating expenses

4. Match the term with the correct statement. Note: I know we did not cover this, but Id like you to research it own your own and at least be aware of these terms.

Delta

Gamma

Vega

Implied Volatility

A.	Obtained from backing it out of the observed market price for options.
B.	Sensitivity of an options price to a change in expected volatility for the underlying .
C.	Sensitivity of an options price to a change in the price of the underlying.
D.	The additional change in a convertible bonds value for a larger change in the price of the underlying stock (rate of change of the rate of change) .