NOTE 1. ACCOUNTING
The BlackRock Insured Municipal Term Trust Inc. (the "Trust"), a Maryland Corporation is a diversified, closed-
end management investment company. The Trust's investment objective is to manage a portfolio of investment
grade fixed income securities that will return $10 per share to investors on or about December 31, 2010 while
providing current income exempt from regular Federal income tax. The ability of issuers of debt securities held by
the Trust to meet their obligations may be affected by economic developments in a specific state, industry or
region. No assurance can be given that the Trust's investment objective will be achieved.
The following is a summary of significant accounting policies followed by the Trust:
SECURITIES VALUATION: Municipal securities (including commitments to purchase such securities on a
"when-issued" basis) are valued on the basis of prices provided by a pricing service which uses information with
respect to transactions in bonds, quotations from bond dealers, market transactions in comparable securities and
various relationships between securities in determining values. Any securities or other assets for which such
current market quotations are not readily available are valued at fair value as determined in good faith under
procedures established by and under the general supervision and responsibility of the Trust's Board of Directors.
Short-term securities which mature in 60 days or less are valued at amortized cost, if their term to maturity from
date of purchase is 60 days or less. Short-term securities with a term to maturity greater than 60 days from the
date of purchase are valued at current market quotations until maturity.
SECURITIES TRANSACTIONS AND INVESTMENT INCOME: Securities transactions are recorded on
the trade date. Realized gains and losses are calculated on the identified cost basis. Interest income is recorded
on the accrual basis and the Trust amortizes premium and accretes original issue discount on securities purchased