d. 640 acres, 38. b. an environmental impact statement b. metes and bounds The size of agricultural property tax exemptions varies from state to state because property taxes aren't administered at the federal level. $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. The four components of the Appraiser Qualification Criteria are: qualifying education, examination, experience, continuing education. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. the estimated cost to -replace a property, a guarantee of the true worth of a property, the President of The Appraisal Foundation. Which of the following methods of legal land description would most likely be used to describe agricultural lands? International (Global) Trade: Definition, Benefits, Criticisms. Who is responsible for appointing members to the ASB and AQB? d. private mortgage insurance, 26. if a property owner had a land survey done on his property it would include all of the following EXCEPT: For example, a tractor purchased for farming is capital. has an increased likelihood of obesity, diabetes, and heart disease. 77- Which of the following Internet pages might not be of particular interest to buyers? A. While land is an essential component of most ventures, its importance can diminish or increase based on industry. c. to protect against liens What is sandy soil? Question: Knowledge Check 01 Merchandise Inventory includes all of the following except O Goods held for sale Goods located in the warehouse O Goods sold Goods located in an off-site warehouse Show transcribed image text Expert Answer 100% (30 ratings) Answer : Option - C, Goods sold Explanation : Merchandis View the full answer Practice Questions with no Answers 33- Which statement is true about a loan that has a negative amortization? 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). a0=mc2c=2cE1=212mc2. a. an identification of the grantor and grantee The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors. While large companies make for excellent examples, a majority of companies within the United States are small businesses started by entrepreneurs. 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. Goodwill is an intangible asset that results from the reputation of the business. c. highest and best use Similarly, the use of kiosks in self-serve restaurants can help firms cut back on their labor costs. The three methods used to legally describe land are: Gradual declines have occurred in cropland and pasture . C. Insurance agents dealing with customers. The difference in skill levels and terminology also helps companies and entrepreneurs create corresponding disparities in pay scales. A. Brenda must follow all of Jims instructions. Agricultural productivity across Sub-Saharan Africa needs to improve to reduce hunger, poverty, and the destruction of biodiversity. For example, private enterprises and individuals own most of the factors of production in capitalism. Why might a lender require a survey before making a loan? [2] [3] It is generally synonymous with both farmland or cropland, as well as pasture or rangeland . Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. All of the following statements about sections as defined in the US government survey system are true EXCEPT: a. a section is 640 acres. 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. a. each check contain 16 townships who four boundaries each measure 6 miles What is the mean sale price? Get started for free! b. dedication Organisms at higher levels on food webs tend to have greater concentrations of bioaccumulated pesticide stored in their bodies through a process known as. This is called: 50- Harry has some buyers that he believes are ready to make an offer. It can be considered an employment contract. The proportion of the land base in agricultural uses has declined from 63 percent in 1949 to 51 percent in 2007. 70- Which of these items would be a credit to the buyer on the settlement statement? habitiat fragmentation, none, these are all problems associated with industrial agriculture. B. (a) 2.01020m2.0\times10^{-20}\;\mathrm{m}2.01020m c. reliction If you apply for the loan, how much can your maximum monthly payment be? 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. Again, it can take on various forms. The definition of factors of production in economic systems presumes that ownership lies with households, who lend or lease them to entrepreneurs and organizations. C. Parks. c. an encroaching elm tree b. littoral B. Jim Sharp is purchasing his fathers home. sewers; crops; buildings; roads Give credit to all potential borrowers. C. It creates an agency relationship. c. 400 ft 6. 80- Which of the following is an example of commingling? 76- Mark believes he has been discriminated against during his home search. Inventory (increase). Although investment in agricultural R&D continues to be one of the most productive investments, with rates of return between 30 and 75 percent, it has been neglected in most low income countries. 74- Which statement is not true about an agency relationship? 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. B. A. D. The monthly payments increase overtime. 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. B. Pleases the sellers by inv=creasing activity. , ided by total investment.. total investment is current assets (inventories, accounts receivables and cash) plus fixed assets. Which of the following statements is TRUE about metes and bounds? d. depth, 25. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests. Explain the meaning of abov Property Owner A has the right to develop his property into 10 lots. c. 8.4 Which is a true statement? As the demands of a business change over time, the relative importance of the factors of production will also change accordingly. 68- Greg and Joyce have an adjustable rate mortgage on their home. A lot measures 316.4 X 428.90. The simplot house, Brentwood Subdivision, Sun Rose township, Great Falls MT 59405 57- Under federal income tax law, the basis for a personal residence is which of the following: D. Their lender can profit from the difference in interest rates. b. to protect against encroachments Which entity is responsible for monitoring state appraiser licensing and certification agencies? tomatoes contain a soybean's gene for disease resistance. The cost of purchase of inventory does not include a. Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. 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. What kind of a mortgage do they have? A. where c=h/mc\lambda_c=h / m cc=h/mc is the Compton wavelength of the electron and =ke2/c\alpha=k e^2 / \hbar c=ke2/c is the finestructure constant. He raised venture capital money to rent office space, hire more employees, and purchase additional server space for development. Productivity measures the efficiency of production in economics. -pesticides kill prey thereby causing predators to starve or migrate. 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? 81- Jake has decided to specialize in working with clients who purchase schools. Depreciation. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. Estimate its value. d. 2.5 square miles, 15. Two months later she purchased and moved into a new home that cost $145,000. 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. d. mete, 23. When he coded the minimum viable product himself, Zuckerbergs labor was the only factor of production. C. Theyre probably paying a higher interest rate on the second mortgage. Broker Alice holds an uncashed check until the offer is accepted. They will owe a balloon payment at the end of the loan term. Economists consider TFPto be the main factor driving economic growth for a country. b. the description is imperfect if it does not end at the point of beginning Which of the following is Kirk himself not likely to do during the application process? Which of the following would be PRIVATE restrictions on property rights? In the above question, the increased value created by the assemblage is called: Who has the dominant tenement in this situation? The four agents of production are land, ________, capital, and _____________. a. 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). c. reliction A. a. b. 20- Which of the following would not be an essential component when researching the purchase of an apartment building? A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. C. Allow indoor pets to leave their designated area. 78- Nancy bought her home last year for $425,000. C. They can make payments directly to the original lender. e statement and outline the possible factors that could determine the contextual Variations in the manifestation of entrepreneurship. Purchase price b. A Montana ranch is made up of Section 9, 10, 11 and North Half of Section 16. The factors of production are an important economic concept outlining the elements needed to produce a good or service for sale. 12- The second installment of property taxes comes due on: 13- Seller Jim tells his agent Branda that he does not want his home marketed to families with children. An example of this is the change in production processes in the information technology (IT) industry after jobs were outsourced to countries with lower salaries. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. Generally, Light, warm, dry, sandy soil that is acidic and deficient in nutrients is what you may expect to find in a typical climate. However, as business continued to grow, Meta built its own office space and data centers. What should Alice do? b. range Rangelands include natural grassland, savannas, many wetlands, some deserts, tundra, and certain forb and shrub communities. Claims that the world has only 100, 60, or even 30 years of harvests left often hit the headlines. 22- Jane sold her personal home for $148,000. 1. d. an easement, a. the water rights reserved by a previous owner, 14. Start in the room with the best features. 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. The health of soil is a primary concern to farmers and the global community whose livelihoods depend on well managed agriculture that starts with the dirt beneath our feet. 3. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. b. dedication It is determined by who pays the compensation. 100 ft a. B. You want to insure it for 80% of value and the annual insurance premium will cost $5.75 per thousand. The table shows values of this function recorded every two hours. All of the following are similarities between undernutrition and overnutrition except, both involve lack of access to sufficient daily calories. B. The right to construct and maintain tunnels, subways, subcellars, pipelines, sewers, etc. is the definition of _________ rights. After the crisis, China experienced a multi-year growth cycle, and its manufacturers invested in robots to improve productivity at their facilities and meet growing market demands. Practice Questions with no Answers for Preview, >Ch13-15 R.E. A. Demand analysis in a market indicates that 15 houses per month can be sold in the market. D. Pam is has no duty to investigate and may rely on the opinion of a heating professional or home inspector. b. meridians What will the new owners pay in property taxes? 41- Agricultural land includes all of the following EXCEPT which? Crop yields might seem far from being one of the world's largest problems. ", U.S. International Trade Commission. Real Estate includes all of the following except: Property rights. Sustainable land use can help to reduce the impacts of agriculture and livestock, preventing soil degradation and erosion and the loss of valuable land to desertification. What is the key feature of this type of loan? Which is the fullest and most complete type of estate? What is the meaning of T(12)?T^{\prime}(12) ?T(12)? a. government survey system How much is your property worth today? b. a parcel of land is 1/8 mile by 1/8 mile is 40 acres. B. How many months inventory does this represent? Entrepreneurship refers to the initiatives taken by entrepreneurs, who typically begin as the first workers in their firms and then gradually employ other factors of production to grow their businesses. 41- Agricultural land includes all of the following EXCEPT which? A. a. quadrant This term typically refers to. An open listing is an exclusive contract. c. check "The Industrial Robotics Industry in China: Demand and Domestic Innovation. 14- Value includes which of the following aspects? The federal financial institutions regulatory agencies directly involved in fair lending include all of the following EXCEPT, The primary purpose of USPAP is to protect. How many owners are there? He paid $100,000 for it, and made $300,000 worth of improvements. Insurance will cost $6.00 per thousand per year. A property is owned as tenancy in severalty. Countries that are rich in human capital experience increased productivity and efficiency. Which of the following would NOT be considered a negative easement? A. I will complete the GRI certification in the next four years. An example of entrepreneurship is the evolution of the social media behemoth Meta (META), formerly Facebook. 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. d. a showing of the property's boundaries to scale, a. an identification of the grantor and grantee, 27. Federal Reserve Bank of San Francisco. 31- Patrick has a written independent contractor agreement with his broker Tami. A. D. The UCC is a body of law that standardizes a number of business practices. B. 63- Jennys home appraised for $550,000. Land refers to physical land, such as the acres used for a farm or the city block on which a building is constructed. A. You can get a loan for 90% of value. Fannie Mae FDIC OCC FRB. A. Mike has changed jobs six times in the past six months. How much will you have to deliver to closing to cover both the down payment and the loan points? b. C. I will open my own office within nine years. 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. For purposes of federal income tax, which statement is true? A(n) __________ contract is one that is not been fully performed or completed. How much cropland has the world spared due to increases in crop yields? Referral fee to a homeowners insurance agent. a. putting more land into production b. increasing the yield of land under cultivation. Which of the following would be considered an intermediate goal? The purchase price, plus improvements antibiotic application The circular flow model of economics shows how money moves through an economy in a constant loop from producers to consumers and back again. Take the potential energy for the system with the brick placed at infinity to be zero. Deforestation can include clearing the land for farming or livestock, or using the timber for fuel . Which of the following types of investments has historically generated the highest return on investment? Information on current loan programs. Entrepreneurship is the secret sauce that combines all the other factors of production into a product or service for the consumer market. d. it is used to describe lots in a subdivision, b. the description is imperfect if it does not end at the point of beginning, 24. 3400 acres This analysis can only be applied if there are no existing improvements. U.S. land area covers nearly 2.3 billion acres. The loan will be distributed to them gradually. Land resources are the raw materials in the production process. 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. It does not include land that is predominantly under agricultural or urban land use. In appraisal, the concept that a higher-priced property will be worth less in a lower-priced neighborhood than it would in a neighborhood of comparable properties is the definition of the principle of. You want to insure it for 80% of value. It can also refer to market, industry, and business fragmentation. 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. Sharon and Steve have just taken a second mortgage on their home. 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. A. Which of the following is not one of those groups? Depending on the specific circumstances, one or more factors of production might be more important than the others. A net listing is illegal in all states. A. What is most likely their main motivation for investing? 100- What does the Real Estate Disclosure Law refer to? In the 1970s, who developed uniform rules for mortgage underwriting? D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. 6. 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. What would we call Hannah? The voluntary giving of land for public use by an owner is: 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. real estatesavings accountmoney market fundcertificate of deposit. c. lot, block and subdivision turnover is sales div 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. Make no recommendations and let the sellers decide on their own. disposal of livestock wastes The listing agent must provide the disclosure to the seller prior to securing the listing agreement. materials, buildingslabor, entrepreneurial coordinationbuildings, labormaterials, entrepreneurship. 1. A. Orchards. B. Which of the following items can Matt not add to the original cost when doing the computation? After Facebook, the social media site, became popular and spread across campuses, it realized it needed to recruit additional employees. b. recorded plat, street address, and metes and bounds During this interim period, grant makes monthly rent payments and the owner accepts them. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. C. Payments will not be enough to retire the loan. Indicate whether each item is dis Marxism is a set of social, political, and economic theories developed by Karl Marx that formed the basis of socialist principles. D. The appraised value prior to sale B. Deposit the check into his trust fund account on the next business day. Use these expressions to check the numerical values of the constants a0a_0a0 and E1E_1E1. a. a series of wire links each 7.92' long C. Have keys made for company listings. How Do Factor Endowments Impact a Country's Comparative Advantage? 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 acres are there in 2 parcels of land described a SW 1/4 and the NW 1/4 of the SE 1/4? C. The same amount will go towards the principal every month. On this page you can find all our data, visualizations and writing relating to crop yields. a) construct an influence diagram that relates these variables a. The lender will allow you to spend up to 28% of your annual income for housing costs, including your mortgage, property taxes, and insurance. indirectly, proportionatelydirectly, proportionatelyinversely, directlydirectly, inversely, A business arrangement in which two or more persons jointly own a business and share in its profits and losses is the definition of, limited partnershippartnershipgeneral partnershiptrust. 100 acres 11- Broker Jill has an agreement with seller Alice that says Jill will receive compensation if anyone except Alice sells Alices home, what kind of agreement is this? (b) 3.31011m3.3\times10^{-11}\;\mathrm{m}3.31011m d. 2.5, 28. The metes and bounds form of land description uses: 2. a township contains how many square miles? Secure documents that are public information from the courthouse and other sources available to the public. 75 Here are all the sales in your area in the last 4 months. D. Do not show the home between 10 a.m. and noon on Sundays. For example, a technology company can easily begin operations with zero investment in land. This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. 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? Because of their low clay content, sandy soils are often referred to as "light soils.". Crop yields might seem far from being one of the worlds largest problems. a. a radon level test The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. a. redemption 6- According to California real estate law, how often must a broker balance his or her trust accounts? 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? Which form of legal land description describes a parcel by enclosing it? Their first mortgage will get paid off immediately. D. Farms. 46- A life insurance company would most likely invest in all but which of the following properties? Present the offer and tell the seller that the check needs to be held until June 30. 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. What Is a Sunk Costand the Sunk Cost Fallacy? C. Identifies buyers for other properties. A. 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. D. The first and second mortgage will be rolled into one. Which statement is TRUE regarding this situation? B. You can specify conditions of storing and accessing cookies in your browser. c. lot, block, and subdivision 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? A. Whoever brings the buyer will get the commission. The borrower makes payments of interest only over the term of the loan. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. When citing this topic page, please also cite the underlying data sources. 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 Sustainable agriculture encourages the use of antibiotics to prevent disease. A business engaged in agriculture or farming as defined in MGL. Greenpeace includes all related activities. 93- Jim has created a nice property flier for the James home. c. 25 acres 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. B. B. c. the section lines must be clearly noted An important characteristic of land is that it may be modified or improved at any given time. The fees that Eric charges Paul for making the loan could be any but which of the following amounts? 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). B. C. Consider child support payments in the decision. B. 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. When comparing printers, make sure to compare the cost per. Studying population trends in the area. 36- Broker Eric secures a loan for buyer Paul. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? The right of ingress and egress over the land of another person is call a: The Census of Agriculture is a complete count of U.S. farms and ranches and the people who operate them. B. soil erosion A. strategies used to increase the supply of food for a country could include. d. recorded plat, us government survey and metes and bounds, d. recorded plat, us government survey and metes and bounds, 18. earnings equal sales minus the cost of sales c. 66 feet The S 1/2 of the NW 1/4 of the SW 1/4 of section 14 is how many acres. b. a parcel of land is 1/8 mile by 1/8 mile is 40 acres. 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 These claims are overblown, but soil erosion is a problem and we can do something about it. In zoning, the distance from the street to the front of a house is called: a. seller b. easement For example, a firm operating in the real estate industry typically owns significant parcels of land, while retail corporations and shops lease land for extended periods of time. The other 75% came from an hourly wage paid by Tami. All of these factors contribute to the food shortages in Developing countries except, increased mortality of infants and children.