Which one of the following is not required of a REIT by federal law?
A) Distribute at least 90 percent of the taxable annual earnings to shareholders
B) Hire independent real estate professionals to perform certain management activities
C) Have at least 100 shareholders with no more than half of all shares owned by 5 or fewer people
D) Engage in only speculative,short-term holdings of real estate for quick profits
E) Invest at least 75 percent of the total assets in real estate
Correct Answer:
Verified
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A)equity
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C)hybrid
D)participation
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A)has increased
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