57- Under federal income tax law, the basis for a personal residence is which of the following: A. Import duties and taxes c. Freight, handling and other costs directly attributable to the acquisition of goods d. Trade discounts, rebates and other similar items. PDF Definition of Agricultural Land Use - Montana 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. 75- All but which of the following is NOT an AIDA feature? National Agricultural Statistics Service - Census of Agriculture - USDA This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. The cash rent lease and the crop-share lease are the two most frequently used land leases in agriculture. Within the software industry, labor refers to the work done by project managers and developers in building the final product. For people and planet, it's one of . USDA ERS - Major Land Uses 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 are commonly broken down into four elements: land, labor, capital, and entrepreneurship. Start in the room with the best features. 67- Hannah is a real estate assistant. 46- A life insurance company would most likely invest in all but which of the following properties? A surveyor's chain is: Your property, which consists of a house on a lot, is valued at $186,000. Economic Order Quantity: What Does It Mean and Who Is It Important For? 54- Jim and Jane are buying a home for $120,000. It is determined by who pays the compensation. However, collective good is the predominating principle in socialism. 37- When dealing with the sale of a business, which is not a true statement? C. Tangible assets transferred in the sale include inventory, fixtures and equipment. 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. Have keys made for company listings. Which of the following types of investments has historically generated the highest return on investment? B. Pleases the sellers by inv=creasing activity. Indicate whether each item is dis Which of the following statements is true? d. annexation, 32. Real Estate: Definition, Types, How to Invest in It - Investopedia disposal of livestock wastes What will they have to pay at closing for the points? b. the columns of townships running north and south within a check are called ranges What are the Factors of Production - Federal Reserve Bank of St. Louis As a result, the country became the biggest market for robots. Give the prospects a black copy of a purchase agreement to look over. Which form of legal land description uses measures of definite distances in indicated directions? 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. B. Ken must obtain his own training. 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. c. reliction All of the following statements about the US government survey system are true except: But, if yields and labor productivity do not increase it will have far-reaching consequences for global poverty, and protection of the environment. 3400 acres B. B. 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests. C. Mike has been late with his rent payments seven times in the past year, D. He had a serious physical altercation with his downstairs neighbor. c. eminent domain a. government survey Insurance will cost $6.00 per thousand per year. Even an artist involved in making art, whether it is a painting or a symphony, is considered labor. Which of the following statements is true? b. the boundaries of the property The Census of Agriculture is a complete count of U.S. farms and ranches and the people who operate them. C2H5Br(alc)+OH(alc)C2H5OH(I)+Br(alc), is first order each in ethyl bromide and hydroxide ion. Increasing agricultural productivity across Sub-Saharan Africa is one of the most important problems this century, Area of land needed to meet global vegetable oil demand, Area of land needed to produce one tonne of vegetable oil, Cereal yields vs. tractor inputs in agriculture, Change in calorie production as a result of climate change impacts on crop yields, Change in cereal production, yield and land use. Purchase of equipment. c. recorded plat C. A seller can sell his or own home and owe home and owe no commission if he or she signs an exclusive agency listing. , ided by total investment.. total investment is current assets (inventories, accounts receivables and cash) plus fixed assets. C. The fair market value at the time of sale What is most likely their main motivation for investing? Labor by an uneducated and untrained worker is typically paid at low prices. d. lot, block, and subdivision, 21. the NW 1/4 of the NW 1/4 of the SW 1/4 of Section 12 is: this analysis can only be applied if there are no existing improvements. d. 640 acres, 38. On the other hand, land is the most significant investment for a real estate venture. D. Their loan payments will gradually increase. 300 ft 91- This paragraph of the purchase agreements informs the seller of the buyers right to inspect the property and can cancel or request maintenance based on findings. The ___ has oversight authority over state appraisal boards: Which is not true concerning the highest and best use of land as though vacant? This can result in a transformation of factors of production for entire industries. What would we call Hannah? The size of agricultural property tax exemptions varies from state to state because property taxes aren't administered at the federal level. 56- Which is not a true statement about the Agency Disclosure? 70- Which of these items would be a credit to the buyer on the settlement statement? Your income is $1,472 every two weeks. 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. How much did Sam gain or lose on the sale? She is probably using all but which of the following tools? When, is 0.100 M, the rate of disappearance of ethyl bromide is, 1.7107M/s1.7 \times 10 ^ { - 7 } \mathrm { M } / \mathrm { s } In the above question, the increased value created by the assemblage is called: 14- Value includes which of the following aspects? 92- Which of the following situations is not exempt from the seller disclosure requirement? 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. 5. Ownership of the factors of production also differs based on the economic system. C. They can make payments directly to the original lender. pheromone traps A Fannie Mae. c. an easement a0=mc2c=2cE1=212mc2. Which is a true statement? b. riparian a. Practice Questions with no Answers for Preview, >Ch16-18 R.E. Purchase price b. b. recorded plat When comparing printers, make sure to compare the cost per. You can get a loan for 90% of value. What is the mean of the GRMs? If there is a discrepancy between an original survey and a new survey or between a survey and the legal description which party must pay the cost of the survey and the cost to remedy the discrepancy? C. I will open my own office within nine years. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? The greater a firm's or country's TFP, the greater its growth. Two years ago, you bought a property for $264,500. Long-term agricultural yields in the United Kingdom. What is sandy soil? 14 Agriculture and Food Resources Ch. 14 Flashcards | Quizlet His depreciation was $2,500 per year. Which is NOT a requirement of a valid deed? For example, a technology company can easily begin operations with zero investment in land. 87- What information can you gather from the newspaper to help develop a Prospecting Plan? c. lot, block and subdivision 8- When considering making a loan to a borrower, which of the following factors would probably exert the least amount of influence on the lender? a. seller ", Association for Advancing Automation. During an economic contraction or when they suffer losses, companies cut back on capital expenditure to ensure profits. Deforestation can include clearing the land for farming or livestock, or using the timber for fuel . This topic page can be cited as: All visualizations, data, and code produced by Our World in Data are completely open access under the Creative Commons BY license. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. A client has requested that an appraiser value a property that is improved with an old dilapidated single family home, and asks the appraiser not to mention the existence of the home in the appraisal report. Productivity measures the efficiency of production in economics. 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. the same size For example, a tractor purchased for farming is capital. 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. B. closed in the operating activities (O), investing activities (I), or financing activities (F) section of the statement or use (NA) if the item does not appear on the statement. The recent trend of U.S. prime farmland has been a loss of 160,000 hectares per year. You can specify conditions of storing and accessing cookies in your browser. Last year, about 25% of his income came from sales commissions. What is the median sale price? 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. Rangelands include natural grassland, savannas, many wetlands, some deserts, tundra, and certain forb and shrub communities. returns on investment is computed in the following manner. B. 71- When agent Jane meets with her sellers to offer suggestions, she most likely would not give them: 72- According to RESPA, a buyer or seller cannot legally be charged at closing for which of the following items? d. 2.5 square miles, 15. Twenty years ago, most appraisal reports that were sent electronically were sent using _____ technology; today, most appraisals are sent electronically using a _______ format. How many owners are there? Labor refers to the effort expended by an individual to bring a product or service to the market. California: Real Estate Practice Sample of Final Course Exam, Answers will be revealed with the correct subscription. The most common lease in agriculture is a land lease. This is further explained below. 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. B. Pastures are those lands that are primarily used for the production of adapted, domesticated forage plants for livestock. How Do Factor Endowments Impact a Country's Comparative Advantage? C. Neither Sarah nor Ken can get employer-provided health insurance. How many acres are there in 2 parcels of land described a SW 1/4 and the NW 1/4 of the SE 1/4? 5 acres Labor refers to all wage-earning activities, such as the work of professionals, retail workers, and so on. The purchase price, plus depreciation 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? The appraisal standards and qualification criteria promulgated by the boards of The Appraisal Foundation achieves legal authority by adoption, citation or implementation by, government agenciesthe U.S Congress onlyFannie Mae and Freddie MacGinnie Mae. AP HUG Agriculture 2018 questions & answers for quizzes and tests - Quizizz A. Explain the meaning of abov Values increased in that area by 5% the first year and 7% the second year. d. an easement, a. the water rights reserved by a previous owner, 14. Learn how it impacts trade. Building b. 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? Special purpose: Property used by the public, such as cemeteries,. D. I will distribute 200 business cards every month for the next six months. 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. 600 ft, 37. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? b. meridians 45- Kirk wants to get an FHA loan. C. Brenda could be liable for a breach of the listing terms. b. littoral gives the FBI jurisdiction over state authorities in certain casesprohibits fraud in real estate transactionsestablishes penalties for any criminal activitiesrequires certain documents to be in writing, prohibits fraud in real estate transactions. 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. PDF Terms and Definitions - Food and Agriculture Organization 30.4 B. You can learn more about the standards we follow in producing accurate, unbiased content in our, The Evolution of Accounting and Accounting Terminology. Depending on the context, some factors of production might be more important than others. C. The date the lender receives her application. How long does he have to file a complaint with the Department of Housing and Urban Development? D. Brenda has not violated any fiduciary duty. C. Once filed, it remains until terminated. d. section 12 is directly north of section 1 in a township, d. section 12 is directly north of section 1 in a township, 19. 16- Dave and Nadine have decided that they want to become property investors. 38- When using the straight-line method of depreciation, each year of economic age is given a rate that, A. Varies each year according to a table provided by the IRS, B. If pesticide from a farm runs off into Lake Michigan, which organism in the lake's food chain would test highest for the pesticide? A. 4 rods Lots and blocks are appox. He paid $100,000 for it, and made $300,000 worth of improvements. You apply for a mortgage. Sustainable agriculture encourages the use of antibiotics to prevent disease. 62- When agent Hal shows a home he should never: A. e statement and outline the possible factors that could determine the contextual Variations in the manifestation of entrepreneurship. a. riparian c. easement 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. A. a. B. The three methods used to legally describe land are: They will owe a balloon payment at the end of the loan term. Her expertise is in personal finance and investing, and real estate. 1. D. The appraised value prior to sale b. the description is imperfect if it does not end at the point of beginning B. D. Offer something valuable to the reader. Give a discount to families with children. 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 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. 435,600 square feet All of these factors contribute to the food shortages in Developing countries except, increased mortality of infants and children. a. a grant 5. Which of the following statements is TRUE about metes and bounds? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. Special assessment for drainage system c. Private driveway and parking lot d. Assumption of any lien on the property; Answer C. Fence and parking lot are reported as a. tT4486468511057126214681671. c. 400 ft Which form of legal land description describes a parcel by enclosing it? Which type of pesticide has fewer deleterious environmental effects? c. lot, block, and subdivision Which of the following would be considered an intermediate goal? A. limited use of pesticides, Which of the following is not a problem associated with industrial agriculture? Instead, it facilitates the processes used in production by enabling entrepreneurs and company owners to purchase capital goods or land or to pay wages. Broker John puts $500 into his trust account. 22- Jane sold her personal home for $148,000. the radius of the first Bohr orbit and the magnitude of the lowest energy for the hydrogen atom can be written as, a0=cmc2=c2E1=122mc2a_0=\frac{\hbar c}{\alpha m c^2}=\frac{\lambda_c}{2 \pi \alpha} \quad E_1=\frac{1}{2} \alpha^2 m c^2 Which of the following best describes a plat? narrow-spectrum pesticide because it focuses on killing specific organisms. Present the offer and tell the seller that the check needs to be held until June 30. However, money is not a factor of production because it is not directly involved in producing a good or service. This term typically refers to. strategies used to increase the supply of food for a country could include. d. tier, 20. The modern definition of factors of production is primarily derived from a neoclassical view of economics. 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 Deforestation is the permanent removal of trees to make room for something besides forest. D. All adjustable rate mortgages have negative amortization. Chapter 1 - Real Property and the Law Flashcards Preview - Brainscape How much will your insurance cost per month? Which of the following items can Matt not add to the original cost when doing the computation? Both types of leases involve different forms of a definite rental rate. a. erosion 6. Calculate the de Broglie wavelength associated with a helium-4 atom (4.00 amu) moving at 3.0106m/s3.0\times10^6\;\mathrm{m/s}3.0106m/s. Land includes any natural resource used to produce goods and services; anything that comes from the land. 63- Jennys home appraised for $550,000. 50- Harry has some buyers that he believes are ready to make an offer. b. Goodwill is an intangible asset that results from the reputation of the business. B. 2240 acres 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? The permanent receding of water increases the land owner's property by: During this interim period, grant makes monthly rent payments and the owner accepts them. 20.6 B. Pastureland. Production workers are paid for their time and effort in wages that depend on their skill and training. You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. 101- Which type of loan typically carries the most loan points? All of the following would be considered improvements to land EXCEPT. 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? Prices of properties currently on the market, C. Properties that were listed but did not sell. Secure documents that are public information from the courthouse and other sources available to the public. Claims that the world has only 100, 60, or even 30 years of harvests left often hit the headlines. In capitalism, the factors of production are most often controlled by business owners and investors. The main cause of undernutrition and food insecurity globally is lack of available food. (95, 93, 120, 94, 93, 129). All of the following statements about sections as defined in the US government survey system are true EXCEPT: a. a section is 640 acres. -All of the above C. The loan term will extend gradually over time. The four agents of production are land, ________, capital, and _____________. Inventory (increase). a. metes and bounds b) define symbols and develop mathematical model, how does a change in each variable affect demand, Explain in details 4 different ways in which Information is Critical to an entrepreneurship, It has been said that entrepreneurship is Contextual and it will manifest differently in different countries and religion. Use these expressions to check the numerical values of the constants a0a_0a0 and E1E_1E1. 160 acres He raised venture capital money to rent office space, hire more employees, and purchase additional server space for development. Those who control the factors of production often enjoy the greatest wealth in a society. b. conformity A potential benefit of genetic engineering is the development of crop plants. 58- Mortgage lenders are prohibited from discriminating in giving credit to prospective borrowers based on race, color, religion, national origin, sex, marital status, age or dependency on public assistance under which law or regulation? b. easement Ask questions of the prospects children. 86- Which of the following is not considered a benefit of investing in real estate? HINT: Round the acreage amount to two decimal places, An appraisal report is defined as the ____________ communication of an appraisal; the document transmitted to the __________upon completion of an appraisal assignment.. b. setback b. reliction What should Tom do? c. contribution Which method of land description would describe an irregular piece of property? "IFR Presents World Robotics Report 2020. Which entity is responsible for making periodic changes to USPAP? What kind of listing agreement does Alice have with Jack? 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 Depending on the specific circumstances, one or more factors of production might be more important than the others. b. metes and bounds - bioaccumulation of pesticides in animal tissue can lead to extinction of species Because entrepreneurs are vital for economic growth, countries are creating the necessary framework and policies to make it easier for them to start companies. "About Us.". c. check 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. (b) 3.31011m3.3\times10^{-11}\;\mathrm{m}3.31011m 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. Which of the following methods of legal land description would most likely be used to describe agricultural lands? Image by Sabrina Jiang Investopedia2020, Absorption Costing Explained, With Pros and Cons and Example, What Is an Amortization Schedule? Which statement is true? Increasingly, technology is responsible for the difference in efficiency among firms. . 53- Greg sold an apartment building he owned for 20 years. Crop yields might seem far from being one of the world's largest problems. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. 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? 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 . The retail coffee chain needs land (prime real estate in big cities for its coffee chain), capital (large machinery to produce and dispense coffee), and labor (employees at its retail outposts for service). The second mortgage has now become the primary loan. C. Broker Harry deposits $1000 into his brokerage business account. 59- Which of the following is a sellers request that an agent cannot honor? c. 200 acres Real Estate includes all of the following except: Property rights. B. \text{T} & \text{48} & \text{46} & \text{51} & \text{57} & \text{62} & \text{68} & \text{71}\\ The other 75% came from an hourly wage paid by Tami. C. Allow indoor pets to leave their designated area. Integrated pest management incorporates all of the following methods except a. government survey system The borrower makes payments of interest only over the term of the loan. -pesticides show mobility, moving other than where they were applied inadvertently killing non-pest organisms. However, during periods of economic expansion, they invest in new machinery and equipment to bring new products to market. What is the median of these indications? The data produced by third parties and made available by Our World in Data is subject to the license terms from the original third-party authors. Solved Knowledge Check 01 Merchandise Inventory includes all | Chegg.com 4. An example of entrepreneurship is the evolution of the social media behemoth Meta (META), formerly Facebook. 64- Which of the following is not a form of personal advertising? For the early political economists, labor was the primary driver of economic value. Here are all the sales in your area in the last 4 months. 51- Which statement is true about a homeowners exemption? Except for labor, ownership for factors of production varies based on industry and economic system. A(n) __________ contract is one that is not been fully performed or completed. The majority of GM crops in the United States are regulated by the United States Department of Agriculture. However, as business continued to grow, Meta built its own office space and data centers. 65- Which of the following items is usually not prorated at closing? 31- Patrick has a written independent contractor agreement with his broker Tami. 80- Which of the following is an example of commingling? resistant to viral diseases, drought, heat, or herbicides. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. 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. Your property, which consists of a house and lot, is valued at $244,000. Which of the following uses of pesticide can lead to ecological imbalance? You can say that the land is preserved wilderness, or put it to some kind of agricultural use to save on property taxes. 78- Nancy bought her home last year for $425,000. a. easement c. accretion The principle of supply and demand states that the price of a commodity, good, or service varies __________, but not necessarily _____________, with demand. Find a home that meets FHA requirements. The rate at which vacant space in a property or a group of properties for sale or lease has been or is expected to be successfully sold or leased over a specified period of time is the definition of a(n) __________ rate. Investopedia requires writers to use primary sources to support their work. You want to buy a house for $243,500. Land improvement c. Land d. Expense; Answer B disease-resistant crop varieties How to Calculate with Formula, Average Collection Period Formula, How It Works, Example, Bill of Lading: Meaning, Types, Example, and Purpose, What Is a Cash Book? A. Chapter 4 PAS 2 Inventories docx - CALAMBA CAMPUS, BRGY - StuDocu