b. Which form of legal land description describes a parcel by enclosing it? C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. 5. How Do Factor Endowments Impact a Country's Comparative Advantage? a. erosion Deforestation is the permanent removal of trees to make room for something besides forest. 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 date Abby receives the good faith estimate. 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 lot measures 248.4 feet X 378.90 feet. This is further explained below. The price expected for a whole property, e.g., a house, or a part of a property, e.g., a plumbing fixture, that is removed from the premises usually for use elsewhere is the definition of ____________ value. habitiat fragmentation, none, these are all problems associated with industrial agriculture. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, David N. Shier, Jackie L. Butler, Ricki Lewis, Nursing Fundamentals- Medication Administrati. 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. Required Information and Example, Retained Earnings in Accounting and What They Can Tell You, Revenue Recognition: What It Means in Accounting and the 5 Steps. 44- Jim owns a gift shop in a commercial building. All of the following statements about the US government survey system are true except: Your income is $1,472 every two weeks. Brainscape helps you realize your greatest personal and professional ambitions through strong habits and hyper-efficient studying. 93- Jim has created a nice property flier for the James home. -pesticides show mobility, moving other than where they were applied inadvertently killing non-pest organisms. The federal financial institutions regulatory agencies directly involved in fair lending include all of the following EXCEPT. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). Long-term agricultural yields in the United Kingdom. He sells this right to nearby Property Owner B who wishes to develop his property into additional lots. 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. Except for labor, ownership for factors of production varies based on industry and economic system. 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. Practice Questions with no Answers for Preview, >Ch13-15 R.E. Land as a factor of production can mean agriculture and farming to the use of natural resources. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. Economic Order Quantity: What Does It Mean and Who Is It Important For? 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. Why is the Schroendinger equation not valid for relativistic particles? B. Give a discount to families with children. d. a setback, 12. Factors of production are the inputs needed for creating a good or service, and the factors of production include land, labor, entrepreneurship, and capital. Her asking price was $560,000 and the property sold for $575,000. 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. C. Real Estate Settlement and Procedures Act. 2240 acres The size of agricultural property tax exemptions varies from state to state because property taxes aren't administered at the federal level. 9. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. What is most likely their main motivation for investing? We also reference original research from other reputable publishers where appropriate. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? This analysis can only be applied if there are no existing improvements. C. Analyzing the income potential of the property. 4. the point of beginning is associated with: 5. The cost of purchase of inventory does not include a. The term of the loan can be shortened. How would Grants lease at this time be classified? The length of the front of a lot on the street is referred to as the lot's: a. 5 acres A lot measures 178 feet by 464 feet. In some cases, all you need is a piece of land that's not currently being used. The borrower makes payments of interest only over the term of the loan. A land owner is contemplating building a septic tank sewer system on his lot. Which method of land description would describe an irregular piece of property? Increasingly, technology is responsible for the difference in efficiency among firms. B. What test would determine the ground's ability to absorb water? a. A. I will complete the GRI certification in the next four years. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. Image by Sabrina Jiang Investopedia2020, Absorption Costing Explained, With Pros and Cons and Example, What Is an Amortization Schedule? The land that is least conducive to agriculture is sandy soil. d. tier, 20. 77- Which of the following Internet pages might not be of particular interest to buyers? d. a showing of the property's boundaries to scale, a. an identification of the grantor and grantee, 27. 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? 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 is the meaning of T(12)?T^{\prime}(12) ?T(12)? The cost of land typically includes all, except a. Grading, filling, draining and cleaning cost b. This can result in a transformation of factors of production for entire industries. 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? Improvements in crop yields have been essential to feed a growing population, while reducing the environmental impact of food production at the same time. A facade easement is a type of_______________ easement. 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. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? In the above question, the increased value created by the assemblage is called: c. meridian a. Make no recommendations and let the sellers decide on their own. b. setback A. "About Us.". What Are the Most Important Aspects of a Capitalist System? Variable Cost: What It Is and How to Calculate It, Work-in-Progress (WIP) Definition With Examples, Write-Offs: Understanding Different Types To Save on Taxes, Year-Over-Year (YOY): What It Means, How It's Used in Finance, Zero-Based Budgeting: What It Is and How to Use It, Marxism: What It Is and Comparison to Communism, Socialism, and Capitalism, What Is Productivity and How to Measure It Explained, Fragmentation: Definition, Examples, Pros and Cons in Business, Social Entrepreneur: Definition and Examples, Circular Flow Model Definition and Calculation, Absolute Advantage: Definition, Benefits, and Example, Sustaining Chinas Economic Growth After the Global Financial Crisis, The Industrial Robotics Industry in China: Demand and Domestic Innovation, North American Robot Orders Fall 21% in 2008. $5,500 the first year, plus a maximum 2% increase in market value per year, B. Entrepreneurship is the secret sauce that combines all the other factors of production into a product or service for the consumer market. B. Ken must obtain his own training. Please remove your shoes before entering the home. D. Exclusive-authorization-and-right-to-sell agreement. Then the prey population rebounds larger than before since predators are gone Read about productivity in the workplace and how productivity impacts investments. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. 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? 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. B) assumption of any liens or mortgages on the property. The circular flow model of economics shows how money moves through an economy in a constant loop from producers to consumers and back again. During this interim period, grant makes monthly rent payments and the owner accepts them. Each of these requires significant real estate and capital investments. turnover is sales div 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. The borrowers family in case of his or her death, B. d. 1/2 mile, 22. 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? 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. 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. b. buyer c. 25 acres The continued popularity of the product meant that Zuckerberg also had to scale technology and operations. B. a. the water rights reserved by a previous owner Gradual declines have occurred in cropland and pasture . 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. 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. 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. 75 Here are all the sales in your area in the last 4 months. f(z)=z3z2+2z+2f(z)=\frac{z-3}{z^{2}+2 z+2}f(z)=z2+2z+2z3. Derive an expression for the gravitational potential energy of a system consisting of Earth and a brick of mass m placed at Earths center. a. townships (95, 93, 120, 94, 93, 129), A right or interest in property is a(n). B. The factors of production are an important economic concept outlining the elements needed to produce a good or service for sale. Which of the following methods of legal land description would most likely be used to describe agricultural lands? C2H5Br(alc)+OH(alc)C2H5OH(I)+Br(alc), is first order each in ethyl bromide and hydroxide ion. You have found comparable sales of rural land parcels that indicate the following sale prices per acre: ($930, $775, $1202, $995, $1612, $906). B. Pleases the sellers by inv=creasing activity. A. a. a radon level test Ask questions of the prospects children. A Montana ranch is made up of Section 9, 10, 11 and North Half of Section 16. 73- Which of these is not a buying signal? 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. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. 62- When agent Hal shows a home he should never: A. For a group of early French economists called the physiocrats, who predated the classical political economists, land was responsible for generating economic value. You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. d. annexation, 32. narrow-spectrum pesticide because it focuses on killing specific organisms. 88- Sally and Dan must pay 2 points on their new $65,000 loan. Here are all the sales in your area in the last 4 months. a. redemption Labor refers to all wage-earning activities, such as the work of professionals, retail workers, and so on. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. The purchase price, plus depreciation, B. What kind of loan do they have? 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. This is an example of. All of the following would be considered improvements to land EXCEPT. the appraisers value opinionthe borrowers estimate of valuethe square footage of the homenone of these. c. check 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? 36- Broker Eric secures a loan for buyer Paul. 7- In the initial meetings with the prospects, the agent should do all of the following except which? Which of these factors would result in a violation of USPAP if the appraiser based his or her appraisal fee on it? What kind of a mortgage do they have? The cash rent lease and the crop-share lease are the two most frequently used land leases in agriculture. 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. All of our charts can be embedded in any site. While large companies make for excellent examples, a majority of companies within the United States are small businesses started by entrepreneurs. a. frontage Which of the following types of investments has historically generated the highest return on investment? C. It creates an agency relationship. 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. 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? 106- If broker Tim advertises a property for sale that he doesnt intend to sell so that he can attract potential buyers, Tim is practicing: >Example Final Exam for R.E. 100- What does the Real Estate Disclosure Law refer to? Production workers are paid for their time and effort in wages that depend on their skill and training. He paid $100,000 for it, and made $300,000 worth of improvements. Agricultural land includes all of the following EXCEPT which? 56- Which is not a true statement about the Agency Disclosure? It is determined by who pays the compensation. Similarly, the use of kiosks in self-serve restaurants can help firms cut back on their labor costs. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. C. The same amount will go towards the principal every month. What kind of mortgage are they looking for? 63- Jennys home appraised for $550,000. Cultivation of crops on land by farmers increases its value and utility. By increasing crop yields we can reduce the amount of land we use for agriculture. At the end of the term, the loan balance will be negative. Along the same lines, desks and chairs used in an office are also capital. On this page you can find all our data, visualizations and writing relating to crop yields. b. d. appreciation, 40. returns on investment is computed in the following manner. 42- Alice is planning her career and setting her goals. For example, a technology company can easily begin operations with zero investment in land. 37- When dealing with the sale of a business, which is not a true statement? What should Tom do? The main cause of undernutrition and food insecurity globally is lack of available food. Pastures are those lands that are primarily used for the production of adapted, domesticated forage plants for livestock. A. Ken is responsible for his own taxes, while the broker pays Sarahs. B. I will do two practice listing presentations per week with an experienced agent for the next two months. You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. . Indicate whether each item is dis 68- Greg and Joyce have an adjustable rate mortgage on their home. Another example of entrepreneurship is Starbucks Corporation (SBUX). Which of the following types of agriculture is correctly matched with the agricultural practice? Federal Reserve Bank of San Francisco. You want to buy a house for $243,500. What do you call the process by which a land owner loses land by a sudden or violent act of nature? The modern definition of factors of production is primarily derived from a neoclassical view of economics. 16- Dave and Nadine have decided that they want to become property investors. But, if yields and labor productivity do not increase it will have far-reaching consequences for global poverty, and protection of the environment. All other material, including 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. 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. B. To that end, technologylike moneyis a facilitator of the factors of production. B. 300 ft A. B. 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 . 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. The fair market value at the time of sale Which statement is true ? yields at a global level following the pattern established over the past five decades will not be sufficient to meet food needs. c. contribution The loan will be distributed to them gradually. D. Offer something valuable to the reader. 1. The broker will not provide any. C. Payments will not be enough to retire the loan. What did it sell for per acre? Which is a true statement? B. Ask the buyers to sign a real estate transfer disclosure statement. 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. The principle of supply and demand states that the price of a commodity, good, or service varies __________, but not necessarily _____________, with demand. Which of the following would be PRIVATE restrictions on property rights? "IFR Presents World Robotics Report 2020. For example, a tractor purchased for farming is capital. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. The purchase price, plus improvements Why Are the Factors of Production Important to Economic Growth? 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. How much did Sam gain or lose on the sale? a. The Census of Agriculture is a complete count of U.S. farms and ranches and the people who operate them. , ided by total investment.. total investment is current assets (inventories, accounts receivables and cash) plus fixed assets. Land improvement c. Land d. Expense; Answer B What is the mean sale price? How long does he have to file a complaint with the Department of Housing and Urban Development? 6. a. quadrant However, as business continued to grow, Meta built its own office space and data centers. Jason Fernando is a professional investor and writer who enjoys tackling and communicating complex business and financial problems. (d) 1.81019m1.8\times10^{-19}\;\mathrm{m}1.81019m However, during periods of economic expansion, they invest in new machinery and equipment to bring new products to market. 186,000 x .80 = 148,800148,800 x .006 = 892.8892.8/12 (months) =74.4Answer: $74.40, Short term money instruments are traded on the. 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. b. recorded plat Their first mortgage will get paid off immediately. While not directly listed as a factor, technology plays a vital role in influencing production. Which is NOT a requirement of a valid deed? Labors transaction with firms is based on wages. b. metes and bounds Which of the following statements is true? She has worked in multiple cities covering breaking news, politics, education, and more. B. Pam is not liable since it was summer and the heating problem was not obvious. Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. The lender will allow you to spend up to 28% of your annual income for housing costs, including your mortgage, property taxes, and insurance. C. Once filed, it remains until terminated. 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. The median price of homes sold in your county nine months ago was $217,400. A(n) __________ contract is one that is not been fully performed or completed. Practice Questions with no Answers for Preview, >Practice Exam for R.E. The European state model includes all of the following except: A. a clearly and legally defined territory B. a population governed from a capital city C. a representative government D. a high level of urbanization 2. c. lot, block, and subdivision and hydroxide ion in ethyl alcohol at 330K, C2H5Br(alc)+OH(alc)C2H5OH(I)+Br(alc)\mathrm { C } _ { 2 } \mathrm { H } _ { 5 } \mathrm { Br } ( a l c ) + \mathrm { OH } ^ { - } ( a l c ) \longrightarrow \mathrm { C } _ { 2 } \mathrm { H } _ { 5 } \mathrm { OH } ( I ) + \mathrm { Br } ^ { - } ( a l c ) The website with the largest amount of demographics information is, What is the median of the following set of gross rent multipliers? Inventory (increase). The simplot house, Brentwood Subdivision, Sun Rose township, Great Falls MT 59405 D. Brenda has not violated any fiduciary duty. 21- Which form of advertising is considered the most cost-effective method for selling a home? In socialist systems, the government (or community) often exerts greater control over the factors of production. 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. Which of the following would NOT be considered a negative easement? Purchase of equipment. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Insurance will cost $6.00 per thousand per year. Manufacturers within the United States, which had been in the throes of an economic recession after the financial crisis, cut back on their investments related to production due to tepid demand. D. All adjustable rate mortgages have negative amortization. PRACTICE QUESTIONS), >Ch1-3 R.E. She sold the property and several months later the buyer sued Pam for not disclosing the problem. D. Do not show the home between 10 a.m. and noon on Sundays. Values increased in that area by 5% the first year and 7% the second year. The factors of production are land, labor, capital, and entrepreneurship. a. survey Which type of pesticide has fewer deleterious environmental effects? C. Insurance agents dealing with customers. 46- A life insurance company would most likely invest in all but which of the following properties? -All of the above D. Allows viewing access to strangers. The fees that Eric charges Paul for making the loan could be any but which of the following amounts? d. an easement, a. the water rights reserved by a previous owner, 14. "North American Robot Orders Fall 21% in 2008. 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