For example, private enterprises and individuals own most of the factors of production in capitalism. B. Her expertise is in personal finance and investing, and real estate. ", Starbucks Coffee Corporation. It is important to distinguish personal and private capital in factors of production. narrow-spectrum pesticide because it focuses on killing specific organisms. a. Which entity is responsible for monitoring state appraiser licensing and certification agencies? The date Abby receives the good faith estimate. What kind of lease does Jim have? What is the median of these numbers: 19, 11, 64, 36, 81, 22, 35, 95? There are four factors of productionland, labor, capital, and entrepreneurship. California: Real Estate Practice Sample of Final Course Exam, Answers will be revealed with the correct subscription. Mary Jones has a property with no road frontage. What is the mean of these numbers: 123.5, 136.2, 162, 188.9, 153.27, 227.98, 16, 342.66, 72.7, 21.55, 168.08? 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 . 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. Explain the meaning of abov 7. B. For the early political economists, labor was the primary driver of economic value. Which of the following is a legal description of a property? 20- Which of the following would not be an essential component when researching the purchase of an apartment building? 86- Which of the following is not considered a benefit of investing in real estate? C. I will open my own office within nine years. 55- Greg is approved for a Cal-Vet loan. A property is owned as tenancy in severalty. b. 75 Here are all the sales in your area in the last 4 months. International (Global) Trade: Definition, Benefits, Criticisms. 93- Jim has created a nice property flier for the James home. The second mortgage has now become the primary loan. 44- Jim owns a gift shop in a commercial building. a. B. disease-resistant crop varieties By increasing crop yields we can reduce the amount of land we use for agriculture. d. 2.5 square miles, 15. For example, an accountants job requires the analysis of financial data for a company. What Are the Most Important Aspects of a Capitalist System? 5. 30- Being prepared to handle incoming phone calls means all of the following except which? If you apply for the loan, how much can your maximum monthly payment be? 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. an environmental impact statement They will owe a balloon payment at the end of the loan term. 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? For example, a tractor purchased for farming is capital. A. What is the median sale price? , ided by total investment.. total investment is current assets (inventories, accounts receivables and cash) plus fixed assets. This can result in a transformation of factors of production for entire industries. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. c. reliction 3400 acres Which of the following types of investments has historically generated the highest return on investment? On the other hand, land is the most significant investment for a real estate venture. "IFR Presents World Robotics Report 2020. Greenpeace includes all related activities. 96- Which statement is not true about a listing contract? How many months inventory does this represent? But, if yields and labor productivity do not increase it will have far-reaching consequences for global poverty, and protection of the environment. Which of the following would NOT be considered a negative easement? How many acres are there is the described property? Which form of legal land description describes a parcel by enclosing it? The permanent receding of water increases the land owner's property by: A. 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. Rangelands include natural grassland, savannas, many wetlands, some deserts, tundra, and certain forb and shrub communities. A. The factors of production include land . As a factor of production, capital refers to the purchase of goods made with money in production. b. d. assemblage, 39. 2240 acres She has worked in multiple cities covering breaking news, politics, education, and more. What is the median of these indications? When, is 0.100 M, the rate of disappearance of ethyl bromide is, 1.7107M/s1.7 \times 10 ^ { - 7 } \mathrm { M } / \mathrm { s } Ask questions of the prospects children. d. mete, 23. b. the columns of townships running north and south within a check are called ranges c. real estate broker Tell the sellers exactly how she feels and why she thinks the offer is not a good one. He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? Land not classified as "Forest", spanning more than 0.5 hectares; with trees higher than 5 meters and a canopy cover of 5-10 percent, or trees able to reach these thresholds in situ; or with a combined cover of shrubs, bushes and trees above 10 percent. D. Pam is has no duty to investigate and may rely on the opinion of a heating professional or home inspector. 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. What is the median price of homes today? 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. Other grazing lands include woodlands, native pastures, and croplands producing forages. 2. How much cropland has the world spared due to increases in crop yields? 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. a. PRACTICE QUESTIONS), >Ch1-3 R.E. These include white papers, government data, original reporting, and interviews with industry experts. Land refers to physical land, such as the acres used for a farm or the city block on which a building is constructed. d. lots and blocks, 16. These include any resource needed for the creation of a good or service. Read about productivity in the workplace and how productivity impacts investments. In the above question, the increased value created by the assemblage is called: The purchase price, plus depreciation, B. b. a description of the property using metes and bounds c. lot, block and subdivision Which statement is true ? B. Jim Sharp is purchasing his fathers home. B. Ken must obtain his own training. 1. B. Pastureland. How much will your insurance cost per month? 57- Under federal income tax law, the basis for a personal residence is which of the following: Which law extended discrimination to include handicap and familial status? Find a home that meets FHA requirements. c. to protect against liens 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? A. crop rotation B. Absolute advantage allows an entity to produce a greater quantity of the same good or service with the same constraints than another entity. A lot measures 178 feet by 464 feet. Land, labor, and capital as factors of production were originally identified by early political economists such as Adam Smith, David Ricardo, and Karl Marx. How much will your insurance cost per month? Installation of central air conditioning, D. Addition of a tenant laundry facility. Jim should not use this flier as a: 94- Sellers agent Pam was unaware of the fact that the heating system of a home she had listed was defective. How much did Sam gain or lose on the sale? Land improvement c. Land d. Expense; Answer B For purposes of federal income tax, which statement is true? D. Broker Gina puts $150 into her trust account. At the end of the term, the loan balance will be negative. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. 6- According to California real estate law, how often must a broker balance his or her trust accounts? a. Why Are the Factors of Production Important to Economic Growth? A. The Census of Agriculture is a complete count of U.S. farms and ranches and the people who operate them. b) define symbols and develop mathematical model, how does a change in each variable affect demand, Explain in details 4 different ways in which Information is Critical to an entrepreneurship, It has been said that entrepreneurship is Contextual and it will manifest differently in different countries and religion. 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 selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. A. Browse over 1 million classes created by top students, professors, publishers, and experts. John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, David N. Shier, Jackie L. Butler, Ricki Lewis, Nursing Fundamentals- Medication Administrati. A. Fragmentation is the use of various suppliers and manufacturers to produce a good. Help us do this work by making a donation. B. The federal financial institutions regulatory agencies directly involved in fair lending include all of the following EXCEPT. The proportion of the land base in agricultural uses has declined from 63 percent in 1949 to 51 percent in 2007. a. an identification of the grantor and grantee B. 5 acres b. recorded plat, street address, and metes and bounds Give credit to all potential borrowers. 30.4 a. easement 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. Payments will not be enough to retire the loan. A. 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. A surveyor's chain is: A. c. identifying new food sources d. increasing food imports e. all of the above e. all of the following are aspects of commerical agriculture except: a. a heavy reliance on machinery C. Jim and Amanda whisper and frown when they see the basement. the estimated cost to -replace a property, a guarantee of the true worth of a property, the President of The Appraisal Foundation. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. We also reference original research from other reputable publishers where appropriate. Your property, which consists of a house and lot, is valued at $244,000. What is the area of the ranch? c. contribution 14- Value includes which of the following aspects? 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 Within the software industry, labor refers to the work done by project managers and developers in building the final product. a. quadrant All of our charts can be embedded in any site. The land that is least conducive to agriculture is sandy soil. While large companies make for excellent examples, a majority of companies within the United States are small businesses started by entrepreneurs. Which statement is true? turnover is sales div How Do Factor Endowments Impact a Country's Comparative Advantage? Broker Alice holds an uncashed check until the offer is accepted. Cultivation of crops on land by farmers increases its value and utility. ", Association for Advancing Automation. 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. 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. \text{T} & \text{48} & \text{46} & \text{51} & \text{57} & \text{62} & \text{68} & \text{71}\\ b. us government system B. B. d. 640 acres, 38. For example, a technology company can easily begin operations with zero investment in land. A(n) __________ contract is one that is not been fully performed or completed. B. A. Ken is responsible for his own taxes, while the broker pays Sarahs. Depending on the specific circumstances, one or more factors of production might be more important than the others. What is most likely their main motivation for investing? The World Bank divides the world into four groups. yields at a global level following the pattern established over the past five decades will not be sufficient to meet food needs. You can learn more about the standards we follow in producing accurate, unbiased content in our, The Evolution of Accounting and Accounting Terminology. The adjusted cost basis of the first home was $140,000. D. I will distribute 200 business cards every month for the next six months. By increasing crop yields we can reduce the amount of land we use for agriculture. Which of the following uses of pesticide can lead to ecological imbalance? Natural resources, such as oil and gold, can be extracted and refined for human consumption from the land. What did it sell for per acre? 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 . 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. The fees that Eric charges Paul for making the loan could be any but which of the following amounts? The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. B. has an increased likelihood of obesity, diabetes, and heart disease. Our articles and data visualizations rely on work from many different people and organizations. The ___ has oversight authority over state appraisal boards: Which is not true concerning the highest and best use of land as though vacant? What is the meaning of T(12)?T^{\prime}(12) ?T(12)? 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. 88- Sally and Dan must pay 2 points on their new $65,000 loan. returns on investment is computed in the following manner. 100 ft a. putting more land into production b. increasing the yield of land under cultivation. B. D. The appraised value prior to sale What kind of a mortgage do they have? Which type of pesticide has fewer deleterious environmental effects? Marxism is a set of social, political, and economic theories developed by Karl Marx that formed the basis of socialist principles. The median price of homes sold in your county nine months ago was $217,400. 6. 50- Harry has some buyers that he believes are ready to make an offer. 103- Kirk and Sandy obtained a wraparound mortgage. 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. 56- Which is not a true statement about the Agency Disclosure? 104- Lorna and Hal have obtained a growing equity mortgage for their new home. This analysis can only be applied if there are no existing improvements. 100 acres 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? a. redemption Crop yields might seem far from being one of the world's largest problems. b. a parcel of land is 1/8 mile by 1/8 mile is 40 acres. For a group of early French economists called the physiocrats, who predated the classical political economists, land was responsible for generating economic value. These claims are overblown, but soil erosion is a problem and we can do something about it. 36- Broker Eric secures a loan for buyer Paul. 95- Who is liable for the withholding on the sale of a property owned by a foreigner? b. the description is imperfect if it does not end at the point of beginning a. a grant a) construct an influence diagram that relates these variables Skilled and trained workers are called human capital and are paid higher wages because they bring more than their physical capacity to the task. B. Estimate its value. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. It can also refer to market, industry, and business fragmentation. a. survey For modern mainstream (neoclassical) economists, capital is the primary driver of value. d. a percolation test, 29. You can get a loan for 90% of value. When estimating the value of a fireplace in a single-family home, the most important principle is the principle of, changesubstitutionincreasing and decreasing returnscontribution, Normally the first step in highest and best use analysis is to research the uses that are, socially acceptablefinancially possiblelegally permissiblemaximally productive. 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. 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. \text{t} & \text{4} & \text{6} & \text{8} & \text{10} & \text{12} & \text{14} & \text{16}\\ c. 8.4 c. it is a document used to record the subdivision of land, 11. 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. 42- Alice is planning her career and setting her goals. Which countries are overapplying nitrogen without gains in crop yields? 6. 65- Which of the following items is usually not prorated at closing? Practice Questions with no Answers 33- Which statement is true about a loan that has a negative amortization? A Bill of Sale gives title to the business equipment. At first, there was no need for land. Increasingly, technology is responsible for the difference in efficiency among firms. 18- In a transaction that involves the purchase of a business, what document functions in the same way as the deed in a personal real estate transaction? 22- Jane sold her personal home for $148,000. Housing and Community Development Act. Who is responsible for appointing members to the ASB and AQB? 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. As the demands of a business change over time, the relative importance of the factors of production will also change accordingly. You have found comparable sales of rural land parcels that indicate the following sale prices per acre: ($930, $775, $1202, $995, $1612, $906). How would Grants lease at this time be classified? This is called: 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? t46810121416T48465157626871\begin{matrix} The Federal Reserve can influence the level of economic activity by. C) street lights, sewers, and drainage systems cost. 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. 19- Which of the following is not an advantage of hosting an open house? You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. C. Use an attractive first-class stamp. a. C. Consider child support payments in the decision. A column of townships running North and South is called a: In some cases, all you need is a piece of land that's not currently being used. They are commonly broken down into four elements: land, labor, capital, and entrepreneurship. b. to protect against encroachments 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 ) Property Owner A has the right to develop his property into 10 lots. You want to buy a house for $243,500. 68- Greg and Joyce have an adjustable rate mortgage on their home. 39- When doing a competitive market analysis, an agent looks at all but which of the following factors? 62- When agent Hal shows a home he should never: A. Take the potential energy for the system with the brick placed at infinity to be zero. He paid $100,000 for it, and made $300,000 worth of improvements. 7- In the initial meetings with the prospects, the agent should do all of the following except which? What is the purpose of a states statute of frauds? Purchase price b. Her broker has asked her to be available for tasks in the field rather than in the office. a. c. a determination of the area of the property 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? d. an easement, a. the water rights reserved by a previous owner, 14. b. dedication D. The first and second mortgage will be rolled into one. B. I will do two practice listing presentations per week with an experienced agent for the next two months. What is the key feature of this type of loan? 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. This site is using cookies under cookie policy . 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). The recent trend of U.S. prime farmland has been a loss of 160,000 hectares per year. Practice Questions with no Answers for Preview, >Practice Exam for R.E. Give the prospects a black copy of a purchase agreement to look over. Practice Questions with no Answers for Preview, >Ch4-6 R.E. 20.6 - bioaccumulation of pesticides in animal tissue can lead to extinction of species It amalgamates past approaches to economic theory, such as the concept of labor as a factor of production from socialism, into a single definition. The modern definition of factors of production is primarily derived from a neoclassical view of economics. Whoever brings the buyer will get the commission. b. reliction C. The date the lender receives her application. Information on current loan programs. D. Seeking buyers for others agents listings. 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. It is determined by who pays the compensation. Which entity is responsible for making periodic changes to USPAP? 41- Agricultural land includes all of the following EXCEPT which? 74- Which statement is not true about an agency relationship? What is the mean of the GRMs? A land owner is contemplating building a septic tank sewer system on his lot. A. Similarly, the use of kiosks in self-serve restaurants can help firms cut back on their labor costs. A property owner on a river or creek is said to have which type of rights? . Integrated pest management incorporates all of the following methods except $5,500 the first year, plus a maximum 2% increase in market value per year, B. 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 . When citing this topic page, please also cite the underlying data sources. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? C. Allow indoor pets to leave their designated area. -pesticides show mobility, moving other than where they were applied inadvertently killing non-pest organisms. The four components of the Appraiser Qualification Criteria are: qualifying education, examination, experience, continuing education. 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. d. a setback, 12. The metes and bounds form of land description uses: 2. a township contains how many square miles? This term typically refers to. 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? Erosion 9. Business Accounting 1. soil erosion c. 25 acres d. metes and bounds, 17. How long does he have to file a complaint with the Department of Housing and Urban Development? Here are all the sales in your area in the last 4 months. C. Neither Sarah nor Ken can get employer-provided health insurance. C. Once filed, it remains until terminated. In zoning, the distance from the street to the front of a house is called: