1 A(n) _______ is a real estate investment in which the owner holds legal title to the property he or she has purchased.A) indrect investment B) commercial property C) direct investment D) syndicate 2 Land and buildings that produce rental income are called _______.A) syndicates B) direct investments C) limited partnerships D) commercial property 3 Since the 1980s, _______ have been less appealing to investors because the Tax Reform Act limited tax advantages.A) real estate syndicates B) participation certificates C) collectibles D) precious gems 4 Participation certificates are issued by _______.A) real estate syndicates B) partnerships C) government agencies D) fund managers 5 A disadvantage of investing in real estate is _______.A) lack of diversification B) increasing property values C) hedge against inflation D) easy entry 6 Rough mineral deposits (usually crystals) that are dug from the earth by miners and then cut and shaped into brilliant jewels are called _______.A) precious metals B) precious gems C) collectibles D) gold 7 Valuable ores, such as gold, platinum, and silver, are called _______.A) precious gems B) precious metals C) diamonds, sapphires, and emeralds D) collectibles 8 _______ are rated for color, clarity, and weight.A) baseball cards B) precious metals C) precious gems D) works of art 9 The use of borrowed funds for direct investment purposes is _______.A) financial leverage B) hedge against inflation C) diversification D) liquidity 10 In January 2005, an ounce of gold was worth about _______.A) $125 B) $225 C) $325 D) $425