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LOS p: State and explain the provisions of the GIPS standards for real estate, and calculate total return, income return, and capital return for real estate assets.
Q1. A firm calculates income return, capital return and total return for their real estate composite using the GIPS provisions for real estate. Is it necessary for the sum of income return plus capital return to equal total return in each quarter, and the sum of the four quarterly income returns to equal the income return for the year?
Quarterly Sum Annual Sum
A) No Yes
B) Yes Yes
C) Yes No
Q2. When performing the return calculations for real estate, which of the following best describes capital employed under the GIPS real estate provision?
A) Beginning of period capital.
B) Beginning of period capital adjusted by time-weighted cash flows.
C) Beginning of period, end of period or a time-weighted average capital may be used, provided it is applied consistently and fully disclosed.
Q3. The calculation of capital return under the GIPS provisions for real estate is performed by dividing a measure of return by capital employed. How would the calculation of return include capital expenditures, nonrecoverable expenses, and sales proceeds?
Capital Expenditures Nonrecoverable Expenses Sales Proceeds
A) Add No adjustment Subtract
B) Subtract Subtract Add
C) Subtract No adjustment Add | 
发表于 2009-4-10 16:15
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