41- Agricultural land includes all of the following EXCEPT which? 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. C. Neither Sarah nor Ken can get employer-provided health insurance. Long-term agricultural yields in the United Kingdom. Which of the following methods of legal land description would most likely be used to describe agricultural lands? Land not classified as "Forest", spanning more than 0.5 hectares; with trees higher than 5 meters and a canopy cover of 5-10 percent, or trees able to reach these thresholds in situ; or with a combined cover of shrubs, bushes and trees above 10 percent. b. reliction D. Their loan payments will gradually increase. A. D. The monthly payments increase overtime. B. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. To that end, technologylike moneyis a facilitator of the factors of production. In conclusion, The term "permanent cropland" includes wooded plantations used to harvest fruit but excludes tree farms and true forests utilized for wood or lumber. Is equal for each year over the life of the property, C. Is high during the first five years of the ownership period, then reduces gradually over the life of the property, D. Varies according to the expired life of the improvements made to the property. Purchase price b. Even an artist involved in making art, whether it is a painting or a symphony, is considered labor. This term typically refers to. C. Recommend a counteroffer back to list price. Each of these requires significant real estate and capital investments. Find and create gamified quizzes, lessons, presentations, and flashcards for students, employees, and everyone else. b. range d. metes and bounds, 17. 4. earnings equal sales minus the cost of sales Which of the following uses of pesticide can lead to ecological imbalance? Negotiate agreements regarding commission structuring. b. A. Ken is responsible for his own taxes, while the broker pays Sarahs. c. an encroaching elm tree A potential benefit of genetic engineering is the development of crop plants. How much is your property worth today? Proceeds from issuance of stock. The cost of land typically includes all, except a. Grading, filling, draining and cleaning cost b. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. a. It is important to distinguish personal and private capital in factors of production. A. Mike has changed jobs six times in the past six months. B. Pastureland. For example, the use of robots in manufacturing has the potential to improve productivity and output. What is sandy soil? The land that is least conducive to agriculture is sandy soil. Twenty years ago, most appraisal reports that were sent electronically were sent using _____ technology; today, most appraisals are sent electronically using a _______ format. Claims that the world has only 100, 60, or even 30 years of harvests left often hit the headlines. Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. Which of these factors would result in a violation of USPAP if the appraiser based his or her appraisal fee on it? Present the offer and tell the seller that the check needs to be held until June 30. narrow-spectrum pesticide because it focuses on killing specific organisms. D. The selling agent must provide the disclosure to the buyer as soon as practicable prior to the execution of the buyers offer to purchase. Demand analysis in a market indicates that 15 houses per month can be sold in the market. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Whoever brings the buyer will get the commission. Prices have been increasing at the rate of 8% per year. Which of the following statements is true? a. Agricultural land includes all of the following EXCEPT which? A net listing is illegal in all states. a. townships Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. It must be in writing to be enforceable. a. erosion 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 d. mete, 23. What Are the Most Important Aspects of a Capitalist System? D. Allows viewing access to strangers. 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. 23- Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. Entrepreneur Howard Schultz, the companys founder, provided the fourth factor of production by being the first person to realize that a market for such a chain existed and figuring out the connections among the other three factors of production. Factors of production is an economic term that describes the inputs used in the productionof goods or services to make an economic profit. d. annexation, 32. Absolute advantage allows an entity to produce a greater quantity of the same good or service with the same constraints than another entity. D. Have the prospects sign the disclosure about agency relationship. A social entrepreneur is a person who pursues an innovative idea with the potential to solve a community problem. d. avulsion, 34. disease-resistant crop varieties $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. B. Ken must obtain his own training. What should Alice do? b. dedication Studying population trends in the area. An illustration of the above is the difference in markets for robots in China compared to the United States after the 2008 financial crisis. The three methods used to legally describe land are: What will they have to pay at closing for the points? - bioaccumulation of pesticides in animal tissue can lead to extinction of species B. b. a parcel of land is 1/8 mile by 1/8 mile is 40 acres. 67- Hannah is a real estate assistant. 63- Jennys home appraised for $550,000. materials, buildingslabor, entrepreneurial coordinationbuildings, labormaterials, entrepreneurship. 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? What is the purpose of a states statute of frauds? Today, capital and labor remain the two primary inputs for processes and profits. When, is 0.100 M, the rate of disappearance of ethyl bromide is, 1.7107M/s1.7 \times 10 ^ { - 7 } \mathrm { M } / \mathrm { s } A. The factors of production are land, labor, capital, and entrepreneurship. Which of the following statements is true? 6- According to California real estate law, how often must a broker balance his or her trust accounts? Two years ago, you bought a property for $264,500. Starting at tree with a notch inside section 14, T3N, R2E of the Montana principle meridian go W 1/4 mile, then S 680 ft, E 1320ft, thence straight line back to the POB. When appraising an income producing property, you have the following GRMs indicated from comparable sales (122, 159, 132, 126, 122, 173, 152, 126). A Montana ranch is made up of Section 9, 10, 11 and North Half of Section 16. Which method of land description would describe an irregular piece of property? What test would determine the ground's ability to absorb water? Insurance will cost $6.00 per thousand per year. A property owner on a river or creek is said to have which type of rights? At the end of the term, the loan balance will be negative. a. b. the boundaries of the property 62- When agent Hal shows a home he should never: A. C. Insurance agents dealing with customers. Factors of production is an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). For example, a technology company can easily begin operations with zero investment in land. d. lien, 35. What did it sell for per acre? The purchase price, plus depreciation A. How Cash Books Work, With Examples, Cost of Debt: What It Means, With Formulas to Calculate It, Cost of Equity Definition, Formula, and Example, Cost-Volume-Profit (CVP) Analysis: What It Is and the Formula for Calculating It, Current Account: Definition and What Influences It, Days Payable Outstanding (DPO) Defined and How It's Calculated. The costs of conversion of inventory include all of the following, except a. a. government survey system Agricultural Systems is an international journal that deals with interactions - among the components of agricultural systems, among hierarchical levels of agricultural systems, between agricultural and other land use systems, and between agricultural systems and their natural and social environments. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. A. Because of their low clay content, sandy soils are often referred to as "light soils.". -pesticides show mobility, moving other than where they were applied inadvertently killing non-pest organisms. turnover is sales div In a typical cash rent lease, the tenant is obligated to pay a set price per acre or a set rate for the leased land. a. a series of wire links each 7.92' long The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. How many owners are there? The definition of factors of production in economic systems presumes that ownership lies with households, who lend or lease them to entrepreneurs and organizations. a. riparian 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 . The majority of GM crops in the United States are regulated by the United States Department of Agriculture. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. For the early political economists, labor was the primary driver of economic value. She has worked in multiple cities covering breaking news, politics, education, and more. How Do Factor Endowments Impact a Country's Comparative Advantage? Ask questions of the prospects children. The median price of homes sold in your county nine months ago was $217,400. What is the mean of these numbers: 123.5, 136.2, 162, 188.9, 153.27, 227.98, 16, 342.66, 72.7, 21.55, 168.08? How much will your insurance cost per month? All of the following could be participants in a real property market except: In analyzing real estate purchase contract, you should be able to find all of the following items except. d. all of the above, Arizona Real Estate "Escrow and Closing B-7", Real Estate Test National Portion B1-B9 Exam, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer. The borrowers family in case of his or her death, B. We will always indicate the original source of the data in our documentation, so you should always check the license of any such third-party data before use and redistribution. California: Real Estate Practice Sample of Final Course Exam, Answers will be revealed with the correct subscription. How many acres are there is the described property? c. 2 townships What kind of mortgage are they looking for? Which statement is true? B. C. Exclusive-authorization-and-right-to-sell. 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. Labor refers to the effort expended by an individual to bring a product or service to the market. Fannie Mae FDIC OCC FRB. A Bill of Sale gives title to the business equipment. The factors of production include land . Ask the buyers to sign a real estate transfer disclosure statement. 64- Which of the following is not a form of personal advertising? Manufacturers within the United States, which had been in the throes of an economic recession after the financial crisis, cut back on their investments related to production due to tepid demand. These claims are overblown, but soil erosion is a problem and we can do something about it. 1. D. The date Abby makes the request to receive the booklet. Production workers are paid for their time and effort in wages that depend on their skill and training. A land owner is contemplating building a septic tank sewer system on his lot. How much did Sam gain or lose on the sale? c. lot, block and subdivision A. 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. Inventory (increase). Which form of legal land description describes a parcel by enclosing it? 5. Land: Includes undeveloped property, vacant land, and agricultural lands such as farms, orchards, ranches, and timberland. Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. Crop yields might seem far from being one of the world's largest problems. B. Erosion We also reference original research from other reputable publishers where appropriate. tomatoes contain a soybean's gene for disease resistance. A problem with the real property market is that the amount of ________ is slow to change. 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. d. assemblage, 39. D. Brenda has not violated any fiduciary duty. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. Which entity is responsible for making periodic changes to USPAP? Pastures are those lands that are primarily used for the production of adapted, domesticated forage plants for livestock. During the time Sam owned the property he paid $350 per year in taxes, $150 per year on maintenance like grass cutting and $90 per year on miscellaneous expenses. Indicate whether each item is dis You can get a loan for 90% of value. Practice Questions with no Answers for Preview, >Ch4-6 R.E. d. 600 ft, 37. D. Avoid negative comments while hes inside the home. Earthquake and volcanic action A longer mortgage loan term will: Result in lower monthly mortgage payments Why might a lender require a survey before making a loan? 78- Nancy bought her home last year for $425,000. In economics, capital typically refers to money. The land that is least conducive to agriculture is sandy soil. Derive an expression for the gravitational potential energy of a system consisting of Earth and a brick of mass m placed at Earths center. C. I will open my own office within nine years. 53- Greg sold an apartment building he owned for 20 years. Your property, which consists of a house on a lot, is valued at $186,000. What is the meaning of T(12)?T^{\prime}(12) ?T(12)? What will the new owners pay in property taxes? B. a. Electronic Data Interchange for transmitting appraisal reports became popular in the (date). Cultivation of crops on land by farmers increases its value and utility. B. b. Estimate its value. d. 1/2 mile, 22. 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. What is most likely their main motivation for investing? (95, 93, 120, 94, 93, 129). 87- What information can you gather from the newspaper to help develop a Prospecting Plan? Which of the following would be PRIVATE restrictions on property rights? Brenda refuses. D. Seeking buyers for others agents listings. 6. Start in the room with the best features. The Solow residual, also known as "total factor productivity (TFP)," measures the residual output that remains unaccounted for from the four factors of production and typically increases when technological processes or equipment are applied to production. The adjusted cost basis of the first home was $140,000. Production, such as manufacturing, can be tracked by certain indexes, including the ISM manufacturing index. . c. 200 acres Randy gives Tom an earnest money check for $1,000 and asks Tom to hold it until June 30, regardless of the date the seller accepts the offer. All of these factors contribute to the food shortages in Developing countries except, increased mortality of infants and children. 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. 3. a plat map is used in which type of legal description? 84- Four years ago, Sam purchased a vacant lot for $10,000. \text{T} & \text{48} & \text{46} & \text{51} & \text{57} & \text{62} & \text{68} & \text{71}\\ 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. During an economic contraction or when they suffer losses, companies cut back on capital expenditure to ensure profits. 80- Which of the following is an example of commingling? The Census of Agriculture is a complete count of U.S. farms and ranches and the people who operate them. The continued popularity of the product meant that Zuckerberg also had to scale technology and operations. B. 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.
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