1. Land acquisition and development loans are usually disbursed:
A) upon loan approval or at the time actual development commences.
B) on a piecemeal basis as improvements are completed.
C) only on completion of the development project.
D) whenever requested by the developer.
2. Real estate development:
A) is usually financed by local or state government.
B) is seldom completed without tax-free bond financing.
C) ranges in size from single-family dwellings to entire new cities.
D) is essentially a post-World War II phenomenon.