It sold for $80,000. 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). The loan will be distributed to them gradually. a) construct an influence diagram that relates these variables Which statement is true ? 65- Which of the following items is usually not prorated at closing? Under the current qualification criteria, an applicant for Appraiser Trainee must have completed ___ creditable hours of experience. "About Us.". Which entity is responsible for making periodic changes to USPAP? What will they have to pay at closing for the points? Property rights are part of real property, not real estate, The ownership interest held by the lessor, which includes the right to receive the contract rent specified in the lease plus the reversionary right when the lease expires is the definition of. In the chart here we see a global map of land used for arable agriculture (as a share of total land area). Absolute advantage allows an entity to produce a greater quantity of the same good or service with the same constraints than another entity. Ownership of the factors of production also differs based on the economic system. A. I will complete the GRI certification in the next four years. D. Broker Gina puts $150 into her trust account. 42- Alice is planning her career and setting her goals. Fannie Mae FDIC OCC FRB. A. If you apply for the loan, how much can your maximum monthly payment be? 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. 1. c. an easement 36- Broker Eric secures a loan for buyer Paul. There are four factors of productionland, labor, capital, and entrepreneurship. Demand analysis in a market indicates that 15 houses per month can be sold in the market. What property type will he be dealing with? A. 22- Jane sold her personal home for $148,000. When he coded the minimum viable product himself, Zuckerbergs labor was the only factor of production. a. easement 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. Factors of production is an economic term that describes the inputs used in the productionof goods or services to make an economic profit. Both types of leases involve different forms of a definite rental rate. Use these expressions to check the numerical values of the constants a0a_0a0 and E1E_1E1. Deforestation is the permanent removal of trees to make room for something besides forest. D. Pam is has no duty to investigate and may rely on the opinion of a heating professional or home inspector. d. accretion, 36. a triangular lot with a base of 300 ft on the street contain 10,000 sq yards What is the depth of the lot? 19- Which of the following is not an advantage of hosting an open house? Economists consider TFPto be the main factor driving economic growth for a country. c. check A land owner is contemplating building a septic tank sewer system on his lot. For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. Which is NOT a requirement of a valid deed? C. I will open my own office within nine years. The Buckle, Incorporated, included the following in its statement of cash flows presented using the indirect method. 21- Which form of advertising is considered the most cost-effective method for selling a home? b. an environmental impact statement What is the meaning of T(12)?T^{\prime}(12) ?T(12)? 4. the point of beginning is associated with: 5. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests. Get started for free! The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. A. Practice Questions with no Answers for Preview, >Ch13-15 R.E. What Are the Most Important Aspects of a Capitalist System? B. B. Pleases the sellers by inv=creasing activity. D. The monthly payments increase overtime. The introduction of technology into a labor or capital process makes it more efficient. soil erosion All of the following statements about the US government survey system are true except: C. Payments will not be enough to retire the loan. D. Their lender can profit from the difference in interest rates. How many acres are there is the described property? This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. sewers; crops; buildings; roads Which countries are overapplying nitrogen without gains in crop yields? They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. Certain homeowners may qualify for a $10,000 exemption. The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. Tip: to find a certain word or key term, press at the same time, the buttons: 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. 68- Greg and Joyce have an adjustable rate mortgage on their home. The metes and bounds form of land description uses: 2. a township contains how many square miles? You can get a loan for 90% of value. A lot measures 248.4 feet X 378.90 feet. On the other hand, land is the most significant investment for a real estate venture. Real Estate includes all of the following except: Property rights. A. The right to construct and maintain tunnels, subways, subcellars, pipelines, sewers, etc. is the definition of _________ rights. B. All of these factors contribute to the food shortages in Developing countries except, increased mortality of infants and children. c. us government survey, PO box, and metes and bounds She is probably using all but which of the following tools? d. benchmark, 30. 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. Productivity measures the efficiency of production in economics. The purchase price, plus improvements, C. The fair market value at the time of sale. 5 acres Land resources are the raw materials in the production process. c. lien In 2012, the latest update to ERS's Major Land Uses (MLU) series, grassland pasture and range uses accounted for the largest share of the Nation's land base, surpassing land in forest uses, which includes grazed forest land, for the first time since 1959.Although the shares of land in different uses have fluctuated to some degree over time . D. A basis of $140,000 and no taxable gain. B. The four components of the Appraiser Qualification Criteria are: qualifying education, examination, experience, continuing education. 88- Sally and Dan must pay 2 points on their new $65,000 loan. 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). Land: Includes undeveloped property, vacant land, and agricultural lands such as farms, orchards, ranches, and timberland. In this context,technology has a fairly broad definition and can refer to software, hardware, or a combination of both used to streamline organizational or manufacturing processes. a. frontage Give the prospects a black copy of a purchase agreement to look over. The borrower makes payments of interest only over the term of the loan. a. each check contain 16 townships who four boundaries each measure 6 miles A. Decks in Basic Appraisal . Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. D. Allows viewing access to strangers. Please remove your shoes before entering the home. Property Owner A has the right to develop his property into 10 lots. 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. For example, the use of robots in manufacturing has the potential to improve productivity and output. Help us do this work by making a donation. 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? 300 ft Economic Order Quantity: What Does It Mean and Who Is It Important For? How Do Factor Endowments Impact a Country's Comparative Advantage? Practice Questions with no Answers for Preview, >Ch16-18 R.E. She has worked in multiple cities covering breaking news, politics, education, and more. "IFR Presents World Robotics Report 2020. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. The majority of GM crops in the United States are regulated by the United States Department of Agriculture. B. I will do two practice listing presentations per week with an experienced agent for the next two months. -pesticides kill prey thereby causing predators to starve or migrate. D. The UCC is a body of law that standardizes a number of business practices. A. b. Which winds steer hurricanes that form in the Atlantic Ocean toward Florida? The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. Under no circumstances, however, is labor owned by firms. Your income is $1,472 every two weeks. 6- According to California real estate law, how often must a broker balance his or her trust accounts? 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? B. AP HUG Agriculture 2018 questions & answers for quizzes and tests - Quizizz Broker Alice holds an uncashed check until the offer is accepted. Goodwill is an intangible asset that results from the reputation of the business. The appraiser must avoid mentioning this structure in the report. A survey would reveal all of the following about a property EXCEPT: (a) 2.01020m2.0\times10^{-20}\;\mathrm{m}2.01020m A. Ken is responsible for his own taxes, while the broker pays Sarahs. Labors transaction with firms is based on wages. A farm described as the SW 1/4 of the NW 1/4 of section 7 and the W 1/2 section 8 is how many acres? Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. Real Estate: Definition, Types, How to Invest in It - Investopedia Agricultural productivity across Sub-Saharan Africa needs to improve to reduce hunger, poverty, and the destruction of biodiversity. Which of these statements is true about the wraparound mortgage? Understanding Agricultural Tax Exemptions - SmartAsset As a factor of production, capital refers to the purchase of goods made with money in production. 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? U.S. land area covers nearly 2.3 billion acres. In zoning, the distance from the street to the front of a house is called: c. eminent domain c. easement B. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. Other grazing lands include woodlands, native pastures, and croplands producing forages. However, money is not a factor of production because it is not directly involved in producing a good or service. A surveyor's chain is: TFA - Chapter 39 - Land, Building and Machinery - StuDocu Which of the following items can Matt not add to the original cost when doing the computation? Along the same lines, desks and chairs used in an office are also capital. 73- Which of these is not a buying signal? the estimated cost to -replace a property, a guarantee of the true worth of a property, the President of The Appraisal Foundation. How much will you have to deliver to closing to cover both the down payment and the loan points? B. PRACTICE QUESTIONS), >Ch1-3 R.E. disease-resistant crop varieties B. c. accretion 53- Greg sold an apartment building he owned for 20 years. 30- Being prepared to handle incoming phone calls means all of the following except which? However, during periods of economic expansion, they invest in new machinery and equipment to bring new products to market. Building b. The simplot house, Brentwood Subdivision, Sun Rose township, Great Falls MT 59405 37- When dealing with the sale of a business, which is not a true statement? What kind of closing technique is Jim using? C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. B. Practice Questions with no Answers for Preview, >Ch4-6 R.E. d. annexation, 32. 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. For a group of early French economists called the physiocrats, who predated the classical political economists, land was responsible for generating economic value. crop rotation Indicate whether each item is dis c. 400 ft Then the prey population rebounds larger than before since predators are gone But that is a theoretical construct and rarely the case in practice. 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. C. The fair market value at the time of sale Brenda refuses. Which of the following statements is TRUE about metes and bounds? Each of their payments is for the same amount. Labor by an uneducated and untrained worker is typically paid at low prices. How many acres is that? A lot measures 316.4 X 428.90. d. a showing of the property's boundaries to scale, a. an identification of the grantor and grantee, 27. The costs of conversion of inventory include all of the following, except a. Agricultural Land Includes All of the Following Except Which C. Allow indoor pets to leave their designated area. C. Use an attractive first-class stamp. It does not include land that is predominantly under agricultural or urban land use. d. 2.5 square miles, 15. Guide for authors - Agricultural Systems - ISSN 0308-521X - Elsevier a. a radon level test What is the median of these indications? 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. 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? B. Pastureland. Present the offer and tell the seller that the check needs to be held until June 30. The table shows values of this function recorded every two hours. 101- Which type of loan typically carries the most loan points? The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? What kind of a mortgage do they have? 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. 4 Factors of Production Explained With Examples, Fiscal Year: What It Is and Advantages Over Calendar Year, How a General Ledger Works With Double-Entry Accounting Along With Examples, Just-in-Time (JIT): Definition, Example, and Pros & Cons, Net Operating Loss (NOL): Definition and Carryforward Rules, NRV: What Net Realizable Value Is and a Formula To Calculate It, No-Shop Clause: Meaning, Examples and Exceptions, Operating Costs Definition: Formula, Types, and Real-World Examples, Operating Profit: How to Calculate, What It Tells You, Example, Production Costs: What They Are and How to Calculate Them, What Is a Pro Forma Invoice? Chapter 4 PAS 2 Inventories docx - CALAMBA CAMPUS, BRGY - StuDocu d. lot, block, and subdivision, 21. the NW 1/4 of the NW 1/4 of the SW 1/4 of Section 12 is: They are commonly broken down into four elements: land, labor, capital, and entrepreneurship. c. lot, block, and subdivision Referral fee to a homeowners insurance agent. 7. However, as business continued to grow, Meta built its own office space and data centers. Mary Jones has a property with no road frontage. D) grading, filling, draining, and clearing costs. But, if yields and labor productivity do not increase it will have far-reaching consequences for global poverty, and protection of the environment. D. I will distribute 200 business cards every month for the next six months. [2] [3] It is generally synonymous with both farmland or cropland, as well as pasture or rangeland . 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. 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. As a result, the country became the biggest market for robots. Which of the following types of agriculture is correctly matched with the agricultural practice? A. c. reliction Installation of central air conditioning, D. Addition of a tenant laundry facility. Ask the buyers to sign a real estate transfer disclosure statement. Labor refers to the effort expended by an individual to bring a product or service to the market. d. 2.5, 28. C) street lights, sewers, and drainage systems cost. 105- Agent Alice has received an offer that she believes is not in the sellers best interest.