Inst M – C4

Those in a hurry
do not arrive.
                                               Zen Saying
Chapter Outline (for transparency) . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.   55
Chapter Summary (for transparency) . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   56
Chapter Opener . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . 57
Table 4.1 and Table 4.3 (to
print hardcopies for use with exercise 4a, page 114 of text). . 62
Supplemental Exercises . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. .63
Supplemental Vocabulary Quiz . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . 66

Chapter 4:
What is
Efficient Reading?
Tips for
Efficient Reading
Know Reading Averages
Track Your Reading Rates
Understand Speed Reading 
Reading Quickly

Developing a
Reading Plan

Test Taking and
Time Management
Practice with
Chapter Summary
Chapter 4:
should be your main reading goal, not how fast you read.
Develop a general study schedule that shows specifically when you
plan to study for each class and for how long.
Choose the times you study based on when you are most alert, and
determine the length of time of each study session using your reading averages
for the subjects you are taking.
Track your reading rates so you can create daily reading plans
that set realistic goals for your classes each week.
The following reading tips are presented
in this chapter and will contribute to your becoming a more efficient reader:
reading quickly, when it is appropriate
regressing or rereading
To emphasize that different reading rates are appropriate
for different types of reading.


For this exercise print out
the two, 535-word readings, A (p.57) and B (p.59) that follow. Make an equal
number of copies of both, mix them together and distribute one reading to each
1.      Pass out the
readings face down and let students assume they all have the same selection.
Tell them not to turn the readings over
until directed to do so.
2.      Once all the
readings have been distributed, tell students to turn the selections over and
begin reading.
3.      After one
minute, tell students to stop and to circle the word they are reading at that
4.      Have students
write down in their learning journals the number at the end of the sentence the
circled word is in.
5.      This number is
their word-per-minute reading rate.
6.      Engage students
in a discussion about their reading rates. Were they pleased with their scores?
What may have prevented them from reading faster? Do they think a test like
this accurately reflects their reading rates? Why or Why not? Was the selection
easy for them to read? (Due to the very different reading levels of the
selections, half of the class will probably say yes, and half will say no.
There may be some confused faces.)
7.      Ask students if
they had an “A” or “B” reading selection.
Ask those with the B
selection why they might not have been able to read it as fast as those with
the A reading selection? Write the
reasons down on the board.
9.      Finally, write
on the board or Smartboard: SLOWER IS
and ask students to discuss what they think this means,
based on what was just discussed about the two different selections.
The goal of critical reading is to “slow down” and take
time to digest what you are reading. It is a thinking process. Thinking takes
time. Explain to students that although they should be aware of how fast they
read so they can pace themselves, plan their study time accordingly, and
improve their reading efficiency, speed is NOT the goal of critical reading. In
this chapter they will learn that different rates are appropriate for different
types of reading. Most speed-reading programs are neither too concerned with
comprehension nor designed for textbook reading. Have students go back to their
learning journals to write about what they just learned.
four: Reading practice a
The difference in the way Britney Spears and Justin Timberlake,                             10
both 21, have been living their post-breakup lives is no more
apparent                     22
than in the way they party. Recently linked on and off to actress
Alyssa                 36
Milano, 30, a confident Timberlake – whose Justified album has sold 2                     47
million copies and is in Billboard’s top 10 – has been tearing up
New York              62
City and Los Angeles, taking in Kelly Osbourne’s performance on
December 29    71
at the Roxy in West Hollywood along with Courtney Love and the
Osbourne        83
clan; clubbing with Milano, and, of course, enjoying the adoration
of female          95
fans. Just last month, during a routine night out at a New York
City lounge,           109
a source says, “Every woman in the place was trying to get to him.
They                 124
were lined up in front of him, trying to get his attention.”                                         136
Meanwhile, Spears – – nearing the end of her six-month hiatus – –
has been              147
opting for more low-key girls’ nights out (her brother Bryan, 25,
seems to               160
be the sole male in her posse.) “She’s been hanging out with
her family                    174
and friends,” says a source who spotted Spears at Suite 16,
her favorite New          187
York City nightspot. “She always has a hat on, and it’s
always pulled down            201
real low. You probably wouldn’t notice her if she didn’t have all
those body           215
guards.” In fact, one regular at the New York City club Lotus
mistook the              229
blonde for a Britney look-alike. “It didn’t occur to me that
it could have                 243
been her because no one was making any fuss,” says the
source. “She’s                    256
very low-key.”                                                                                                             258
No doubt, one possible reason for Spear’s more subdued ways these
days               270
grew apparent when, right after the new year, Timberlake – after
months                 281
of innuendo both in interviews and his hit “Cry Me a
River” single and video         296
– made his most direct suggestion, on the record, that the reason
for their                309
split was her alleged infidelity. (Sources have said that Spears
had a fling               322
with choreographer Wade Robson.) Saying also that he had two prior
girlfriends before Spears who cheated on him, the pop heartthrob
told                    355
Rolling Stone. “I’ve had
my heart broken plenty of times……It was the                  367
same with Britney as with the first girl who broke my heart and
the second.           382
They’ve all gone down the same way.” However, the
still-wounded star also           394
confessed about Britney, “When we were together it was bliss,
like something        406
from a damn fairy tale..I really do
still love that girl.”                                               418
While some have argued that Timberlake has capitalized on their
three-and-a-         331
half-year relationship (and its fallout) to further his career,
Spears has remained      344
mum. But when reached in L.A., where she is writing songs for her
next album,     359
Spears finally opted to break her silence. “I’m very touched
that he still loves          373
me,” she told Us
exclusively. “There’s a part of me that will always love Justin        388
too because he was my first love.” And she’s not the only
member of the                403
Spears family with room in her heart for the “NSync hunk
turned solo star.             417                 
Says Britney’s mother, Lynne Spears, 47:
“Britney will always care about              427
Justin, and so will I.”                                                                                                 432
So what’s with Timberlake’s bitter
public response to the split? “In the wake          445
of betrayal the first reaction is
revenge. And that’s what went on for Justin,”         459
asserts New York psychotherapist Dr.
Jane Greer. “The flip side is the loving        471
feelings that remain. That love doesn’t
disappear in one final explosive                   482
moment.” While a reconciliation
isn’t imminent, it’s not impossible either.   492
“Once the rage simmers and the
loving feelings start to emerge again, it                 515
makes it possible to reconnect,”
adds Greer.                                                             522
Weekly Us. January 20, 2003. Issue 414. Pgs. 46-47. Us
Magazine:New York City
four: Reading practice b
The NCREIF organization publishes a quarterly index of
value-weighted                9
real estate returns. The NCRIEF Property Index (NPI) measures the                       19
historical performance of income properties held by (or for)
pension                        29
funds and profit-sharing plans. The NPI includes both income (NOI)                      39
and capital (value appreciation or depreciation) components which                          47
are combined to generate quarterly total returns. The NPI is
calculated                    58
before management fees are deducted and is standardized with a
value                  69
of 100 representing the fourth quarter of 1977.                                                         77
Properties included in the index may be wholly owned or joint
ventures,                 89
but they must be existing, investment-grade, income-producing
properties              97   
held by fiduciaries on behalf of tax-exempt institutions.
Development                     106
projects and agricultural properties are specifically excluded.
The                            114
universe of properties upon which the index is based changes each
quarter              126
as new members join NCREIF and existing members alter their
holdings                137
through sales and acquisitions. At the end of 1999, there were
2,469                       149
properties in the NPI, with a combined market value of $77.4
billion.                      161
The properties in the NPI are also used to calculate 37
subindexes,                          173
including separate indexes for the five major property type in the
aggregate.           185
One potential weakness with using NCREIF data is that the
quarterly increase       197
or decrease in the market value of each property is determined by
an                       210
appraisal of the property, unless the property happens to sell
during the quarter,      223
in which case the transaction price is used. This methodology for
determining        235
the quarterly change in property value has received substantial
criticism –                245
empirical evidence suggests that using appraisal estimates rather
than transaction    255
prices may smooth the indicated changes in value and therefore
bias estimates        267
of the return volatility downward. Nonetheless, the NCREIF Classic
Property       277
Index remains a primary source for information on the risk-return
characteristics     287
of income-producing property.                                                                                   290
An alternative source of historic commercial real estate return
information is the    302
National Association of real Estate Investment Trusts (NAREIT) Index.
The          312
NAREIT Index is a value-weighted index that tracks the total
return (income        324
plus capital) pattern of all exchange-traded REITs.                                                   231
The NAREIT organization groups all qualified REITs into three main
categories for reporting purposes. First, and Equity REITs Index
is calculated        252
for those REITs whose primary assets are direct property
investments.                    262
Second, a Mortgage Index is reported, based on the performance of
those              274
companies whose primary assets are mortgages, mortgage-backed
securities,           282
or both. Third, a Hybrid Index is calculated for those firms that
hold a mixture      297
of direct property and mortgage investments. Detailed information
regarding         306
the return performance of specific property types (apartments,
warehouses, etc.)     316
also is available. NAREIT, which was established on December 31,
1971,              326
covered, as of year-end 1999, 203 publicly traded REITs with a
total market          339
capitalization of $124.3 billion. Equity REITs account for nearly
95 percent of       351
this total market value. In the analysis presented below, we use
the Equality           364
REIT Index to measure real estate returns.                                                                371
It is important to realize that NAREIT return data are based on
publicly                 384
traded securities. To the extent that these security prices
represent factors               395
not inherently attributable to the underlying property (such as
the stock                  406
market’s opinion of the REIT manager’s ability), observed
performance patterns     416
may not be representative of the true risk and expected returns
associated               428
with investing in the underlying real estate.                                                               435
The NCREIF and NAREIT indexes described above provide useful
information   445
on historical returns. Exhibit 5-5 presents the mean total returns
for five                  456
different asset classes over four different time periods. In
addition to the               468
NCREIF Property Index NPI) and the NAREIT index, stock and bond
returns     480
are derived from the S&P 500 Index, the Russell 2000 Index and
an index of        495
returns on long-term government bonds. The S&P 500 is a
value-weighted index   507
of the 500 largest U.S. stocks, which account for over 80 percent
of the total         522
market capitalization of all firms listed on the New York Stock
Exchange.              534
Corgel, Ling, Smith. (2001). Real Estate Perspectives, 4th
Edition. McGraw-Hill: Boston. Pgs.

table 4.1

Number of Pages Read

Session Number
Number of Pages Read
Pages Per
supplemental exercises
are three supplemental exercises for this chapter. Information about each is
provided on this page and the related material follows on separate pages that
you can print out for use with your students.
Exercise 4-1: Academic Tracking Calendar. (Student material
on page 63)
Have students get into the habit of marking down
important dates (appointments, events, exams, and deadlines) for each month.
This teaches them that it’s important to be aware of time. The more conscious
they are of due dates and other important events, the more they will be in
control of their time, and the more effective they will be in using it. This
calendar is used to flag unusual dates, unlike a semester schedule that doesn’t
Exercise 4-2: Goal Setting Exercise #1: Goals and
Professional Commitment
students respond to the following four questions in their learning journals:
1.      What do you intend to
accomplish by the end of today?
2.      What do you intend to accomplish
by the end of the week?
3.      What do you intend to
accomplish in twelve months?
4.      What do you intend to
accomplish in five years?
ask them to answer questions five.
5.   If you won a million dollars tomorrow, how
would you rewrite goals 3 and 4?
      (Give students five minutes to rewrite
these goals.)
to students that if they changed their goals as a result of winning money,
especially #4, they probably don’t have a strong commitment to pursuing them.
If they are planning on becoming a teacher, for example, but would not choose
this career if they became rich, they may not have chosen goals that are
sufficiently meaningful to them.
their goals changed dramatically, have them discuss why in class. If they
aren’t really committed to a profession, they may benefit from career
Exercise 4-3: Goal Setting Exercise #2: Defining Specific
Goals (student material on page 64)
Have students complete this worksheet which is designed
to help them clarify their goals.
 chapter four: exercise 4-1
Month _______________
Important Dates (Deadlines, Meetings, Exams, Events)
chapter four: exercise 4-3
In order to manage your time effectively, you need to be clear
about your goals. The more clearly defined they are, the more likely it is that
you will achieve them. The purpose of this worksheet is to have you think about
and select a series of goals, and learn how to write clear objectives to help
you attain them.
First: Brainstorm
List five goals – things that you intend to accomplish today.
Second: Prioritize
Number the goals, listing them in order of importance.
Third: Identify
Identify each goal as “M” (mine) or “O” (someone else’s goal for
Fourth: Specify
Detail how you will achieve the goals you have selected.
Be specific – for example, indicate time, place, reason, method, and priority.
Example: Attend reading class on time
Keep grade up
Get up one hour earlier
Intermediate Term Goals:
Using the same method as you did for your five daily goals, select
three goals you want to accomplish by this time next week.
Long Term Goals:
Finally, brainstorm two major goals that you want to accomplish by
this date next year. For example, select a major, get your own apartment, apply
to UM Law School. Prioritize your goals, identify them as “M” or “O”; and
specify how you will accomplish each (when, how, where etc.).
supplemental vocabulary quiz
There is one supplemental vocabulary quiz for this
chapter in the form of a crossword puzzle.
Chapter FOUR vocabulary QUIZ
1              at fault, blame
5              compassion, feel how someone feels
9              thinking about what you are
12           comprehending text at an appropriate
reading rate
1              struggled
2              reading groups of words
3              using your finger to guide your
4              rest, relief
6              small amount
7              diagnose the reason for own demise
8              deep, wise, insightful
10           reading only some of the words
11           summon, call up