c. sections The introduction of technology into a labor or capital process makes it more efficient. The most common lease in agriculture is a land lease. (e) 6.61027m6.6\times10^{-27}\;\mathrm{m}6.61027m. A Bill of Sale gives title to the business equipment. A. The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? A. 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 The difference in skill levels and terminology also helps companies and entrepreneurs create corresponding disparities in pay scales. The purchase price, plus improvements 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. A. Brenda must follow all of Jims instructions. What Are the Most Important Aspects of a Capitalist System? Broker John puts $500 into his trust account. The principle of supply and demand states that the price of a commodity, good, or service varies __________, but not necessarily _____________, with demand. 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: Increasingly, technology is responsible for the difference in efficiency among firms. Which law extended discrimination to include handicap and familial status? 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. avulsion, 34. What would we call Hannah? Finally, capital refers to the cash, equipment, and other assets needed to start or grow a business. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? How much cropland has the world spared due to increases in crop yields? A. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests. The cost of land typically includes the purchase price and all of the following costs except A) private driveways and parking lots. b. metes and bounds 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. 19- Which of the following is not an advantage of hosting an open house? What is the key feature of this type of loan? Practice Questions with no Answers for Preview, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. d. benchmark, 30. Agricultural land includes all of the following EXCEPT which? A. You can say that the land is preserved wilderness, or put it to some kind of agricultural use to save on property taxes. 1.7107M/s. On this page you can find all our data, visualizations and writing relating to crop yields. C. Allow indoor pets to leave their designated area. Instead, it facilitates the processes used in production by enabling entrepreneurs and company owners to purchase capital goods or land or to pay wages. The greater a firm's or country's TFP, the greater its growth. Present the offer and tell the seller that the check needs to be held until June 30. 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? Pastures are those lands that are primarily used for the production of adapted, domesticated forage plants for livestock. Natural resources, such as oil and gold, can be extracted and refined for human consumption from the land. f(z)=z3z2+2z+2f(z)=\frac{z-3}{z^{2}+2 z+2}f(z)=z2+2z+2z3. Which of these statements is true about the wraparound mortgage? Which of the following items can Matt not add to the original cost when doing the computation? 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 voluntary giving of land for public use by an owner is: Land, labor, and capital as factors of production were originally identified by early political economists such as Adam Smith, David Ricardo, and Karl Marx. d. lien, 35. \text{T} & \text{48} & \text{46} & \text{51} & \text{57} & \text{62} & \text{68} & \text{71}\\ b. conformity d. a showing of the property's boundaries to scale, a. an identification of the grantor and grantee, 27. 7. 57- Under federal income tax law, the basis for a personal residence is which of the following: B. a. a grant A survey would reveal all of the following about a property EXCEPT: 10. a. metes and bounds 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. 73- Which of these is not a buying signal? A survey would reveal all of the following about a property EXCEPT: B. Please remove your shoes before entering the home. Which of the following would NOT be considered a negative easement? Why might a lender require a survey before making a loan? B. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. The factors of production are an important economic concept outlining the elements needed to produce a good or service for sale. D. All adjustable rate mortgages have negative amortization. Those who control the factors of production often enjoy the greatest wealth in a society. Again, it can take on various forms. 78- Nancy bought her home last year for $425,000. Derive an expression for the gravitational potential energy of a system consisting of Earth and a brick of mass m placed at Earths center. . The continued popularity of the product meant that Zuckerberg also had to scale technology and operations. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. Each of these requires significant real estate and capital investments. C. The same amount will go towards the principal every month. a. redemption The listing agent must provide the disclosure to the seller prior to securing the listing agreement. b. an environmental impact statement d. 640 acres, 38. d. encroachment, 13. What does that mean? tomatoes contain a soybean's gene for disease resistance. 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. 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. The purchase price, plus improvements, C. The fair market value at the time of sale. 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. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? 46- A life insurance company would most likely invest in all but which of the following properties? b. easement 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. 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. What will the new owners pay in property taxes? 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 . B. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. Even small plots of land - whether rural or urban - growing fruit, vegetables or some food animals count if $1,000 or more of such products were raised and sold, or normally would have been sold, during the Census year. In the above question, the increased value created by the assemblage is called: 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. Practice Questions with no Answers 33- Which statement is true about a loan that has a negative amortization? What is most likely their main motivation for investing? 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. Which method of land description would describe an irregular piece of property? "North American Robot Orders Fall 21% in 2008. For example, the use of robots in manufacturing has the potential to improve productivity and output. 1. b. riparian has an increased likelihood of obesity, diabetes, and heart disease. . A. Mike has changed jobs six times in the past six months. B. There are currently 180 houses for sale in this market. 41- Agricultural land includes all of the following EXCEPT which? 5 acres Estimate its value. We will always indicate the original source of the data in our documentation, so you should always check the license of any such third-party data before use and redistribution. A. It is determined by who pays the compensation. He sells this right to nearby Property Owner B who wishes to develop his property into additional lots. We also reference original research from other reputable publishers where appropriate. Which statement is TRUE regarding this situation? Erosion Purchase of investments. The permanent receding of water increases the land owner's property by: Purchase price b. PRACTICE QUESTIONS), >Ch1-3 R.E. a. plottage 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. Which of the following would be considered an intermediate goal? Depending on the context, some factors of production might be more important than others. b. reliction Take the potential energy for the system with the brick placed at infinity to be zero. c. lien Broker Alice holds an uncashed check until the offer is accepted. by Hannah Ritchie, Max Roser and Pablo Rosado, To protect the worlds wildlife we must improve crop yields especially across Africa, After millennia of agricultural expansion, the world has passed peak agricultural land, Yields vs. Land Use: How the Green Revolution enabled us to feed a growing population. Similarly, the use of kiosks in self-serve restaurants can help firms cut back on their labor costs. Which of the following types of investments has historically generated the highest return on investment? d. 600 ft, 37. Generally, Light, warm, dry, sandy soil that is acidic and deficient in nutrients is what you may expect to find in a typical climate. While not directly listed as a factor, technology plays a vital role in influencing production. Factors of production is an economic term that describes the inputs used in the productionof goods or services to make an economic profit. c. reliction b. accretion C. Analyzing the income potential of the property. Learn how it impacts trade. D. An exclusive listing must always be at least 30 days long. 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. D. Pam is has no duty to investigate and may rely on the opinion of a heating professional or home inspector. Which of the following statements is TRUE about metes and bounds? 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 It can be considered an employment contract. The circular flow model of economics shows how money moves through an economy in a constant loop from producers to consumers and back again. 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. You want to insure it for 80% of value. C) street lights, sewers, and drainage systems cost. Who has the dominant tenement in this situation? 103- Kirk and Sandy obtained a wraparound mortgage. For example, a tractor purchased for farming is capital. C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. The S 1/2 of the NW 1/4 of the SW 1/4 of section 14 is how many acres. 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? 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? 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? Brenda refuses. B. Costs directly related to the . depletion of fossil fuels c. a determination of the area of the property , ided by total investment.. total investment is current assets (inventories, accounts receivables and cash) plus fixed assets. C. It creates an agency relationship. b. buyer c. meridian Factors of production are the inputs needed for creating a good or service, and the factors of production include land, labor, entrepreneurship, and capital. c. lot, block, and subdivision Land includes any natural resource used to produce goods and services; anything that comes from the land. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. An open listing is an exclusive contract. Our World in Data is free and accessible for everyone. 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. 70- Which of these items would be a credit to the buyer on the settlement statement? soil erosion Crop yields might seem far from being one of the worlds largest problems. Labor refers to the effort expended by an individual to bring a product or service to the market. 6- According to California real estate law, how often must a broker balance his or her trust accounts? b. meridians A net listing is illegal in all states. After Facebook, the social media site, became popular and spread across campuses, it realized it needed to recruit additional employees. antibiotic application The length of the front of a lot on the street is referred to as the lot's: 160 acres Why? t46810121416T48465157626871\begin{matrix} Installation of central air conditioning, D. Addition of a tenant laundry facility. How much did Sam gain or lose on the sale? a. Rangelands include natural grassland, savannas, many wetlands, some deserts, tundra, and certain forb and shrub communities. The four components of the Appraiser Qualification Criteria are: qualifying education, examination, experience, continuing education. Which of the following types of agriculture is correctly matched with the agricultural practice? Practice Questions with no Answers for Preview, >Practice Exam for R.E. c. 66 feet "About Us.". The ___ has oversight authority over state appraisal boards: Which is not true concerning the highest and best use of land as though vacant? A. Generates leads for new listings. Depreciation. How long does he have to file a complaint with the Department of Housing and Urban Development? 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. It must be in writing to be enforceable. narrow-spectrum pesticide because it focuses on killing specific organisms. They will owe a balloon payment at the end of the loan term. A. I will complete the GRI certification in the next four years. The size of agricultural property tax exemptions varies from state to state because property taxes aren't administered at the federal level. 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). Indicate whether each item is dis 50- Harry has some buyers that he believes are ready to make an offer. A lot measures 178 feet by 464 feet. Productivity measures the efficiency of production in economics. $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 borrowers family in case of his or her death, B. The Uniform Commercial Code covers the sale of goods over $________. 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. 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? The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. B. A. Goodwill is an intangible asset that results from the reputation of the business. 3. a plat map is used in which type of legal description? Her broker has asked her to be available for tasks in the field rather than in the office. This is further explained below. The date Abby receives the good faith estimate. What kind of lease does Jim have? What Is a Sunk Costand the Sunk Cost Fallacy? c. contribution d. lot, block, and subdivision, 21. the NW 1/4 of the NW 1/4 of the SW 1/4 of Section 12 is: Real Estate includes all of the following except: Property rights. Their first mortgage will get paid off immediately. A. Orchards. D. The monthly payments increase overtime. Referral fee to a homeowners insurance agent. 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). Property Owner A has the right to develop his property into 10 lots. 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? -pesticides kill prey thereby causing predators to starve or migrate. How many owners are there? d. 2.5, 28. Why is the Schroendinger equation not valid for relativistic particles? C. Real Estate Settlement and Procedures Act. All of the following are similarities between undernutrition and overnutrition except, both involve lack of access to sufficient daily calories. Which of the following methods of legal land description would most likely be used to describe agricultural lands? a. easement B. A. Please consult our full legal disclaimer. Land improvement c. Land d. Expense; Answer B D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. A problem with the real property market is that the amount of ________ is slow to change. 53- Greg sold an apartment building he owned for 20 years. Buyer Jim asks if he can visit the property for a second time. Why Are the Factors of Production Important to Economic Growth? (b) 3.31011m3.3\times10^{-11}\;\mathrm{m}3.31011m The borrower makes payments of interest only over the term of the loan. Depending on the specific circumstances, one or more factors of production might be more important than the others. 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.. Read about productivity in the workplace and how productivity impacts investments. Capital also follows a similar model in that it can be owned or leased from another party. b. setback D. The interest payment is always smaller then the amount allocated to the principal. What is the median of these numbers: 19, 11, 64, 36, 81, 22, 35, 95? The purchase price, plus depreciation, B. b. littoral What should Alice do? strategies used to increase the supply of food for a country could include. The Federal Reserve can influence the level of economic activity by. B. A. At first, there was no need for land. a. The other 75% came from an hourly wage paid by Tami. Ask questions of the prospects children. What kind of listing agreement does Alice have with Jack? The appraiser must avoid mentioning this structure in the report. The area is characterized by the presence of agricultural land intended for parking serving the Fiumicino airport, located in the vicinity, along the SW slope with the Leonardo Da Vinci airport, to the SE with the A91 motorway Rome Fiumicino motorway, to the to the NW with other land and some commercial/craft activities and to the NE with a . c. in each township section 7 is south of section 6. d. there are 36 sections in a township. B. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. a. Double-Declining Balance (DDB) Depreciation Method Definition With Formula. What did it sell for per acre? 33- Which statement is true about a loan that has a negative amortization? Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433).