In May 2011, I attempted to answer a main question on REIT and another one on one part question on REIT. It is a tough question to answer as I don't know what the examiner wants.
Some detailed report is presented in The Business Times Weekend, Apr 30-May 1, 2011 Pg 30 Smart Money. This is for the benefit of future students of REA and in case I fail this exam.
Its topic is "Reit or business trust?" and has a detailed technical report comparing listed companies, business trust and reits.
2. Corporate Governance
3. Gearing limit
4. Dividend distribution
Reits - Unit holders --- Manager -- Trustee
I guess I would not get good marks as I didn't write about the above.