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. 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. 25- According to the law governing mortgage loan brokers, what is the maximum commission Broker Claire can charge for securing a $50,000 first mortgage for a period of 2 years? d. metes and bounds, 17. 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? If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. Even an artist involved in making art, whether it is a painting or a symphony, is considered labor. 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. Electronic Data Interchange for transmitting appraisal reports became popular in the (date). Get started for free! The buyer was responsible for making the discovery, so Pam is therefore liable. a. All of our charts can be embedded in any site. 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). When, is 0.100 M, the rate of disappearance of ethyl bromide is, 1.7107M/s1.7 \times 10 ^ { - 7 } \mathrm { M } / \mathrm { s } The federal financial institutions regulatory agencies directly involved in fair lending include all of the following EXCEPT. 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. Production, such as manufacturing, can be tracked by certain indexes, including the ISM manufacturing index. Generally, Light, warm, dry, sandy soil that is acidic and deficient in nutrients is what you may expect to find in a typical climate. c. 8.4 Last year, about 25% of his income came from sales commissions. 42- Alice is planning her career and setting her goals. B. b. to protect against encroachments 41- Agricultural land includes all of the following EXCEPT which? Practice Questions with no Answers for Preview, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. The circular flow model of economics shows how money moves through an economy in a constant loop from producers to consumers and back again. How many owners are there? When comparing printers, make sure to compare the cost per. c. a determination of the area of the property 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? Instead, it facilitates the processes used in production by enabling entrepreneurs and company owners to purchase capital goods or land or to pay wages. A. Generates leads for new listings. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. A lot measures 316.4 X 428.90. We also reference original research from other reputable publishers where appropriate. The purchase price, plus improvements, C. The fair market value at the time of sale. D. I will distribute 200 business cards every month for the next six months. a. government survey system 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. "North American Robot Orders Fall 21% in 2008. - bioaccumulation of pesticides in animal tissue can lead to extinction of species 75 Here are all the sales in your area in the last 4 months. You can specify conditions of storing and accessing cookies in your browser. You want to insure it for 80% of value. Find and create gamified quizzes, lessons, presentations, and flashcards for students, employees, and everyone else. A. Brenda must follow all of Jims instructions. The right of ingress and egress over the land of another person is call a: This analysis can only be applied if there are no existing improvements. 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. Federal Reserve Bank of San Francisco. earnings equal sales minus the cost of sales Certain homeowners may qualify for a $10,000 exemption. Image by Sabrina Jiang Investopedia2020, Absorption Costing Explained, With Pros and Cons and Example, What Is an Amortization Schedule? A. B. Pastureland. c. reliction 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 developer of a shopping center buys three adjoining lots for $124,000, $75,000 and $111,000 creating a single parcel worth $420,000. Costs directly related to the . Then the prey population rebounds larger than before since predators are gone 20- Which of the following would not be an essential component when researching the purchase of an apartment building? You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. You have found comparable sales of rural land parcels that indicate the following sale prices per acre: ($930, $775, $1202, $995, $1612, $906). C. Broker Harry deposits $1000 into his brokerage business account. While land is an essential component of most ventures, its importance can diminish or increase based on industry. As a result, the country became the biggest market for robots. The adjusted cost basis of the first home was $140,000. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. a0=mc2c=2cE1=212mc2. 46- A life insurance company would most likely invest in all but which of the following properties? B. C. I will open my own office within nine years. 160 acres 84- Four years ago, Sam purchased a vacant lot for $10,000. Improvements in crop yields have been essential to feed a growing population, while reducing the environmental impact of food production at the same time. Agricultural land includes all of the following EXCEPT which? What kind of lease does Jim have? The majority of GM crops in the United States are regulated by the United States Department of Agriculture. John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, David N. Shier, Jackie L. Butler, Ricki Lewis, Nursing Fundamentals- Medication Administrati. A Montana ranch is made up of Section 9, 10, 11 and North Half of Section 16. b. metes and bounds B. Prices have been increasing at the rate of 8% per year. D. Brenda has not violated any fiduciary duty. What should Tom do? She sold the property and several months later the buyer sued Pam for not disclosing the problem. b. riparian When appraising an income producing property, you have the following GRMs indicated from comparable sales (122, 159, 132, 126, 122, 173, 152, 126). Which of the following best describes a plat? Start in the room with the best features. Which of the following uses of pesticide can lead to ecological imbalance? 52- Which statement is true about a listing contract? 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. 75- All but which of the following is NOT an AIDA feature? Mary Jones has a property with no road frontage. Erosion A. Ken is responsible for his own taxes, while the broker pays Sarahs. D. The UCC is a body of law that standardizes a number of business practices. 93- Jim has created a nice property flier for the James home. Indicate whether each item is dis The US government survey uses all of the following EXCEPT: B. -pesticides alter the genetic resistance in populations causing the pests to persist. He paid $100,000 for it, and made $300,000 worth of improvements. D. Avoid negative comments while hes inside the home. Why? A facade easement is a type of_______________ easement. 33- Which statement is true about a loan that has a negative amortization? The World Bank divides the world into four groups. 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. c. 25 acres It does not include land that is predominantly under agricultural or urban land use. As a factor of production, capital refers to the purchase of goods made with money in production. During this interim period, grant makes monthly rent payments and the owner accepts them. 4. the point of beginning is associated with: 5. b. buyer 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. This site is using cookies under cookie policy . Please remove your shoes before entering the home. Deforestation can include clearing the land for farming or livestock, or using the timber for fuel . The most common lease in agriculture is a land lease. How much will your insurance cost per month? c. the section lines must be clearly noted 76- Mark believes he has been discriminated against during his home search. Which of the following items can Matt not add to the original cost when doing the computation? 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. C. The fair market value at the time of sale 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. B. ", Association for Advancing Automation. C. Jim and Amanda whisper and frown when they see the basement. 70- Which of these items would be a credit to the buyer on the settlement statement? Land refers to physical land, such as the acres used for a farm or the city block on which a building is constructed. 30.4 Land includes any natural resource used to produce goods and services; anything that comes from the land. Purchase of investments. What is the key feature of this type of loan? 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. If you apply for the loan, how much can your maximum monthly payment be? 7- In the initial meetings with the prospects, the agent should do all of the following except which? A property is owned as tenancy in severalty. Demand analysis in a market indicates that 15 houses per month can be sold in the market. You can get a loan for 90% of value. b. littoral 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. soil erosion the estimated cost to -replace a property, a guarantee of the true worth of a property, the President of The Appraisal Foundation. This can result in a transformation of factors of production for entire industries. A net listing is illegal in all states. The four components of the Appraiser Qualification Criteria are: qualifying education, examination, experience, continuing education. Again, it can take on various forms. 57- Under federal income tax law, the basis for a personal residence is which of the following: 4. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests. Economists consider TFPto be the main factor driving economic growth for a country. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. 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. "About Us.". Which statement is true? Investopedia requires writers to use primary sources to support their work. How much did Sam gain or lose on the sale? 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? C. The same amount will go towards the principal every month. -All of the above 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. c. Lot 2 block M, Lincoln wood subdivision, missoula country, MT 59802 limited use of pesticides, Which of the following is not a problem associated with industrial agriculture? Jason Fernando is a professional investor and writer who enjoys tackling and communicating complex business and financial problems. B. B. The voluntary giving of land for public use by an owner is: Use these expressions to check the numerical values of the constants a0a_0a0 and E1E_1E1. b. an environmental impact statement 55- Greg is approved for a Cal-Vet loan. (95, 93, 120, 94, 93, 129), A right or interest in property is a(n). How many acres are there is the described property? The size of agricultural property tax exemptions varies from state to state because property taxes aren't administered at the federal level. In the chart here we see a global map of land used for arable agriculture (as a share of total land area). For people and planet, it's one of . d. annexation, 32. Practice Questions with no Answers for Preview, >Ch7-9 R.E. What will they have to pay at closing for the points? At the end of the term, the loan balance will be negative. C. Insurance agents dealing with customers. Your property, which consists of a house on a lot, is valued at $186,000. The four agents of production are land, ________, capital, and _____________. D. Their lender can profit from the difference in interest rates. Land: Includes undeveloped property, vacant land, and agricultural lands such as farms, orchards, ranches, and timberland. 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. antibiotic application C. Recommend a counteroffer back to list price. She has worked in multiple cities covering breaking news, politics, education, and more. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. c. front footage 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. A basic homeowner's insurance policy would protect all of the following EXCEPT which one: fire & lightning, earthquake and volcanic action, windstorm and hail, water damage caused by a leaking pipe? 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? d. 1/2 mile, 22. sewers; crops; buildings; roads The website with the largest amount of demographics information is, What is the median of the following set of gross rent multipliers? 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. The U.S. land area covers nearly 2.3 billion acres. 66- When doing a listing presentation which of the following items would you not describe to the owners as being a benefit of listing with an agent? Proceeds from issuance of stock. Our World in Data is free and accessible for everyone. 5. You will also have to pay 2.75 points on the loan. C. Exclusive-authorization-and-right-to-sell. A land owner is contemplating building a septic tank sewer system on his lot. 3. a plat map is used in which type of legal description? Let T(t) be the temperature (inF)\left(\text { in }^{\circ} \mathrm{F}\right)(inF) in Seattle t hours after midnight on May 7, 2012. This term typically refers to. A. Fragmentation is the use of various suppliers and manufacturers to produce a good. e statement and outline the possible factors that could determine the contextual Variations in the manifestation of entrepreneurship. Each of these requires significant real estate and capital investments. "IFR Presents World Robotics Report 2020. 31- Patrick has a written independent contractor agreement with his broker Tami. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. c. meridian Another example of entrepreneurship is Starbucks Corporation (SBUX).