c. lot, block, and subdivision The date Abby receives the good faith estimate. Mary Jones has a property with no road frontage. 14 Agriculture and Food Resources Ch. 14 Flashcards | Quizlet The factors of production include land . The fees that Eric charges Paul for making the loan could be any but which of the following amounts? 1.7107M/s. A net listing is illegal in all states. She sold the property and several months later the buyer sued Pam for not disclosing the problem. Within the software industry, labor refers to the work done by project managers and developers in building the final product. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? 105- Agent Alice has received an offer that she believes is not in the sellers best interest. How many months inventory does this represent? What is the key feature of this type of loan? Her asking price was $560,000 and the property sold for $575,000. 52 weeks in a year divided by 2 is 26.1,472 x 26 = 38,27238,272 x .28 = 10,716,16 (28% of the annual income per yr)10,716 divided by 12 (months) =893.01 monthly payments. b. B. Investopedia requires writers to use primary sources to support their work. Practice Questions with no Answers for Preview, >Ch16-18 R.E. Sample Final Exam for California Real Estate Practice Questions with no 77- Which of the following Internet pages might not be of particular interest to buyers? C. Broker Harry deposits $1000 into his brokerage business account. (b) 3.31011m3.3\times10^{-11}\;\mathrm{m}3.31011m Last year, about 25% of his income came from sales commissions. What kind of agreement is this? A. Here are all the sales in your area in the last 4 months. Depreciation. 1. The cost of land typically includes all, except a. Grading, filling, draining and cleaning cost b. Factors of production are the inputs needed for creating a good or service, and the factors of production include land, labor, entrepreneurship, and capital. Browse over 1 million classes created by top students, professors, publishers, and experts. What is the process by which a landowner increases his property due to the accumulation of alluvial deposits washed on to his property from other properties? c. 8.4 The right to construct and maintain tunnels, subways, subcellars, pipelines, sewers, etc. is the definition of _________ rights. b. setback 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. pheromone traps C) street lights, sewers, and drainage systems cost. The metes and bounds form of land description uses: 2. a township contains how many square miles? Ownership of the factors of production also differs based on the economic system. B. D. Broker Gina puts $150 into her trust account. Which type of pesticide has fewer deleterious environmental effects? 53- Greg sold an apartment building he owned for 20 years. Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. d. an easement, a. the water rights reserved by a previous owner, 14. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. ", U.S. International Trade Commission. b. dedication a. the water rights reserved by a previous owner ROI is equal to turnover multiplied by earning as a percent of sales. 4. c. an easement a. each check contain 16 townships who four boundaries each measure 6 miles 100- What does the Real Estate Disclosure Law refer to? Because of their low clay content, sandy soils are often referred to as " light soils." Practice Questions with no Answers for Preview, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. $5,600 every year, with no increase, C. $5,750 the first year, plus a maximum 2% increase in market value per year, D. $5,750, plus a maximum 1% increase in market value per year. d. depth, 25. He paid $100,000 for it, and made $300,000 worth of improvements. Agricultural Leases Overview - National Agricultural Law Center 50- Harry has some buyers that he believes are ready to make an offer. 18- In a transaction that involves the purchase of a business, what document functions in the same way as the deed in a personal real estate transaction? D. Avoid negative comments while hes inside the home. \end{matrix} Tip: to find a certain word or key term, press at the same time, the buttons: 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. A Bill of Sale gives title to the business equipment. In the above question, the increased value created by the assemblage is called: Why? Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Example Final Exam for R.E. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. She has an access right of way across the property of her neighbor Bob Smith for ingress, egress, and regress. Challenges facing U.S. agriculture include all of the following except decline in prime farmland decline in numbers of domesticated plant varieties addressing habitat fragmentation improving crop and livestock yields ", Association for Advancing Automation. To that end, technologylike moneyis a facilitator of the factors of production. 28- Abby applies for a federally-related loan to purchase a home. tT4486468511057126214681671. D. Ken and Sarah both must be at the office from 9 a.m. to 5 p.m. 35- Who benefits from Private Mortgage Insurance? They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. When, is 0.100 M, the rate of disappearance of ethyl bromide is, 1.7107M/s1.7 \times 10 ^ { - 7 } \mathrm { M } / \mathrm { s } What is Gregs capital gain on the apartment? Crop yields might seem far from being one of the worlds largest problems. Except for labor, ownership for factors of production varies based on industry and economic system. 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. c. check A. I will complete the GRI certification in the next four years. c. sections The World Bank divides the world into four groups. You have found comparable sales of rural land parcels that indicate the following sale prices per acre: ($930, $775, $1202, $995, $1612, $906). Two months later she purchased and moved into a new home that cost $145,000. Real Estate: Definition, Types, How to Invest in It - Investopedia In 2012, the latest update to ERS's Major Land Uses (MLU) series, grassland pasture and range uses accounted for the largest share of the Nation's land base, surpassing land in forest uses, which includes grazed forest land, for the first time since 1959.Although the shares of land in different uses have fluctuated to some degree over time . A Montana ranch is made up of Section 9, 10, 11 and North Half of Section 16. The ___ has oversight authority over state appraisal boards: Which is not true concerning the highest and best use of land as though vacant? This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. A survey would reveal all of the following about a property EXCEPT: 10. 8. Which of the following is an example of a genetically modified crop? A lot measures 248.4 feet X 378.90 feet. He hired two people, an engineer (Dustin Moskovitz) and a spokesperson (Chris Hughes), who both allocated hours to the project, meaning that their invested time became a factor of production. What does that mean? The cash rent lease and the crop-share lease are the two most frequently used land leases in agriculture. There are two main uses of agricultural land: arable farming (which is land dedicated to growing crops), and pastureland (which includes meadows and pastures used for livestock rearing). Deforestation can include clearing the land for farming or livestock, or using the timber for fuel . A. Ken is responsible for his own taxes, while the broker pays Sarahs. The land that is least conducive to agriculture is sandy soil. Agricultural land is typically land devoted to agriculture the systematic and controlled use of other forms of lifeparticularly the rearing of livestock and production of cropsto produce food for humans. A property is owned as tenancy in severalty. What kind of closing technique is Jim using? Trespassing on the domain of another is the definition of, All of the following would be social influences on value EXCEPT, A firm agreement to perform an act, refrain from acting or make a payment or delivery is the definition of, All of the following would be considered to be economic influences on value EXCEPT, interest rateszoningunemployment ratesConsumer Price Index. 20.6 However, collective good is the predominating principle in socialism. At the end of the term, the loan balance will be negative. Agricultural land is typically land devoted to agriculture, [1] the systematic and controlled use of other forms of life particularly the rearing of livestock and production of crops to produce food for humans. The purchase price, plus improvements, C. The fair market value at the time of sale. Which is a true statement? B. Ken must obtain his own training. B. Pam is not liable since it was summer and the heating problem was not obvious. A basis of $145,000 and a taxable gain of $3,000, C. A basis of $130,000 and a table gain of $18,000. 5 acres the appraisers value opinionthe borrowers estimate of valuethe square footage of the homenone of these. A(n) __________ contract is one that is not been fully performed or completed. How long does he have to file a complaint with the Department of Housing and Urban Development? 36- Broker Eric secures a loan for buyer Paul. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. B. The area is characterized by the presence of agricultural land intended for parking serving the Fiumicino airport, located in the vicinity, along the SW slope with the Leonardo Da Vinci airport, to the SE with the A91 motorway Rome Fiumicino motorway, to the to the NW with other land and some commercial/craft activities and to the NE with a . Which entity is responsible for making periodic changes to USPAP? a. 29- Which of the following is not a good direct mail technique? Which of the following would be PRIVATE restrictions on property rights? C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. Sharon and Steve have just taken a second mortgage on their home. 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. b. recorded plat 3. A. a. townships C. Allow indoor pets to leave their designated area. B. -pesticides show mobility, moving other than where they were applied inadvertently killing non-pest organisms. a. seller d. accretion, 36. a triangular lot with a base of 300 ft on the street contain 10,000 sq yards What is the depth of the lot? This is further explained below. After Facebook, the social media site, became popular and spread across campuses, it realized it needed to recruit additional employees. The purchase price, plus depreciation B. A. I will complete the GRI certification in the next four years. It would be misleading if the appraiser did not disclose the existence of this structure in the report. For example, a software company that relies primarily on the labor of skilled software engineers might see labor as its most valuable factor of production. Again, it can take on various forms. 93- Jim has created a nice property flier for the James home. All of the following statements about sections as defined in the US government survey system are true EXCEPT: b. a parcel of land is 1/8 mile by 1/8 mile is 40 acres. Installation of central air conditioning, D. Addition of a tenant laundry facility. Give the prospects a black copy of a purchase agreement to look over. materials, buildingslabor, entrepreneurial coordinationbuildings, labormaterials, entrepreneurship. A. Indicate whether each item is dis D. The appraised value prior to sale Natural resources, such as oil and gold, can be extracted and refined for human consumption from the land. c. highest and best use yields at a global level following the pattern established over the past five decades will not be sufficient to meet food needs. D. The monthly payments increase overtime. d. 1/2 mile, 22. The federal financial institutions regulatory agencies directly involved in fair lending include all of the following EXCEPT. A surveyor's chain is: For example, the construction worker at a hotel site is part of labor, as is the waiter who serves guests or the receptionist who enrolls them into the hotel. 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Improvements in crop yields have been essential to feed a growing population, while reducing the environmental impact of food production at the same time. 92- Which of the following situations is not exempt from the seller disclosure requirement? 59- Which of the following is a sellers request that an agent cannot honor? Agricultural Land Includes All of the Following Except Which For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. Lot Building area in Fiumicino (Roma) | Gobid.it b. the description is imperfect if it does not end at the point of beginning A developer of a shopping center buys three adjoining lots for $124,000, $75,000 and $111,000 creating a single parcel worth $420,000. Meanwhile, a company that makes its money from building and renting out office space might see land and capital as its most valuable factors. A personal vehicle used to transport family is not considered a capital good, but a commercial vehicle used expressly for official purposes is. B. Pastureland. That includes Randy Newman, who sings about his hometown.1:A nickname of a place can have the following functions except .Abuilding up identityBentertainmentCbringing pride to the localsDuniting surrounding cities2:The underlined sentence can best be replaced by .AYour trip to Los Angeles is not perfect if you miss . $5,500 the first year, plus a maximum 2% increase in market value per year, B. The Census of Agriculture is a complete count of U.S. farms and ranches and the people who operate them. Give a discount to families with children. B. Which of the following would NOT be considered a negative easement? the estimated cost to -replace a property, a guarantee of the true worth of a property, the President of The Appraisal Foundation. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. Practice Questions with no Answers for Preview, >Practice Exam for R.E. For purposes of federal income tax, which statement is true? The borrowers family in case of his or her death, B. Mark Zuckerberg assumed the risk for the success or failure of his social media network when he began allocating time from his daily schedule toward that activity. 31- Patrick has a written independent contractor agreement with his broker Tami. What Are the Most Important Aspects of a Capitalist System? The length of the front of a lot on the street is referred to as the lot's: Farm and agricultural land can also include: land that is compatible with agricultural purposes and used incidentally for those purposes, not to exceed 20% of the classified land; land on which appurtenances necessary for the production, preparation, or sale of agricultural products if it is in conjunction with the land producing the products; a Building b. B. Agricultural land - Wikipedia \text{T} & \text{48} & \text{46} & \text{51} & \text{57} & \text{62} & \text{68} & \text{71}\\ What would we call Hannah? The borrower makes payments of interest only over the term of the loan. b. metes and bounds c. 2 townships B. c. There are 36 sections in a township A. Because of their low clay content, sandy soils are often referred to as "light soils.". D. A basis of $140,000 and no taxable gain. USPAP includes performance standards for the appraisal of, real property, personal property, and business/intangible property, What is the mode of the following set of gross rent multipliers? 33- Which statement is true about a loan that has a negative amortization? The European state model includes all of the following except: A. a clearly and legally defined territory B. a population governed from a capital city C. a representative government D. a high level of urbanization 2. c. 25 acres 78- Nancy bought her home last year for $425,000. B. The second mortgage has now become the primary loan. Which entity is responsible for monitoring state appraiser licensing and certification agencies? B. Which statement is true? It does not include land that is predominantly under agricultural or urban land use. C. Brenda could be liable for a breach of the listing terms. sewers; crops; buildings; roads Production workers are paid for their time and effort in wages that depend on their skill and training. On the other hand, land is the most significant investment for a real estate venture. by Hannah Ritchie, Max Roser and Pablo Rosado, To protect the worlds wildlife we must improve crop yields especially across Africa, After millennia of agricultural expansion, the world has passed peak agricultural land, Yields vs. Land Use: How the Green Revolution enabled us to feed a growing population. Why is the Schroendinger equation not valid for relativistic particles? 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? It can also refer to market, industry, and business fragmentation. The cost of purchase of inventory does not include a. c. identifying new food sources d. increasing food imports e. all of the above e. all of the following are aspects of commerical agriculture except: a. a heavy reliance on machinery a. a series of wire links each 7.92' long As part of the overall requirement for continuing education, certified and licensed appraisers must complete the 7-Hour National USPAP Update Course or its equivalent ________ calendar year(s). What is Erosion? Effects of Soil Erosion and Land Degradation c. easement They sold for: $178,500; $166,000; $172,750; $182,000; $168,000; $174,000; $176,000; $184,000; $170,000; $175,000; $172,000; $181,500. . The factors of production are an important economic concept outlining the elements needed to produce a good or service for sale. B. b. setback B. Image by Sabrina Jiang Investopedia2020, Absorption Costing Explained, With Pros and Cons and Example, What Is an Amortization Schedule? A basis of $148,000 and no taxable gain, B. While not directly listed as a factor, technology plays a vital role in influencing production. What is the mean sale price? Prove that Cf(z)dz=0\oint_{C} f(z) d z=0Cf(z)dz=0, where f is the given function and C is the unit circle z=1|z|=1z=1. 42- Alice is planning her career and setting her goals. Prices of properties currently on the market, C. Properties that were listed but did not sell. . d. 2.5 square miles, 15. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, insurance portfolio management, finance and accounting, personal investment and financial planning advice, and development of educational materials about life insurance and annuities. A type of subsistence agriculture in which short periods of cultivation are followed by longer periods of fallow land is called, The recent trend of U.S. prime farmland has been, Challenges facing U.S. agriculture include all of the following except, increase in number of domesticated animal varieties, One of the problems associated with the "green revolution" is that, it makes developing countries dependent on high-energy consuming imported technologies. C. Exclusive-authorization-and-right-to-sell. C. Consider child support payments in the decision. Why might a lender require a survey before making a loan? It must be in writing to be enforceable. A. What is sandy soil? 300 ft \text{t} & \text{4} & \text{6} & \text{8} & \text{10} & \text{12} & \text{14} & \text{16}\\ Jim should not use this flier as a: 94- Sellers agent Pam was unaware of the fact that the heating system of a home she had listed was defective.