1.1 According to NAREIT (Yungmann and Taube, 2001), property insurance coverage should be based on fair
value, i.e., valuing assets at their current market values — actual, if available, or ......., if not.
(A) comparative (B) previous (C) projected (D) theoretical
6.6 When accounting values for assets ....... from their underlying market values, some managements take
uneconomic actions to protect accounting performance measures.
(A) detract (B) distract (C) diverge (D) divide
7.7 For example, during the U.S. savings and loan crisis in the 1980s, many institutions ....... assets with market
values above book and continued to hold assets with book values above market.
(A) sold off (B) sold out (C) underwrote (D) wrote off
9.9 Fair value ....... argue that measuring financial assets as close as possible to their true underlying economic
values removes these perverse incentives.
(A) presentations (B) proponents (C) propositions (D) protocols