Final answer:
The REIX policy does not provide coverage for the sale of vacant land, but it covers other real estate transactions.
Step-by-step explanation:
The REIX policy typically provides coverage for various types of real estate transactions, but there are certain exclusions. One of these exclusions is the sale of vacant land. This means that if there is a policy under REIX, it will not cover any transactions related to the sale of vacant land.
On the other hand, options 1 (lease of commercial property), 3 (rental of residential property), and 4 (transfer of industrial property) are not excluded from coverage under the REIX policy. So, if there is a policy in place, these types of transactions would generally be covered.