The term of the loan can be shortened. Which of these factors would result in a violation of USPAP if the appraiser based his or her appraisal fee on it? b. the columns of townships running north and south within a check are called ranges For modern mainstream (neoclassical) economists, capital is the primary driver of value. . Land: Includes undeveloped property, vacant land, and agricultural lands such as farms, orchards, ranches, and timberland. Lot Building area in Fiumicino (Roma) | Gobid.es 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. Certain homeowners may qualify for a $10,000 exemption. B. Which of the following statements is true? 53- Greg sold an apartment building he owned for 20 years. She sold the property and several months later the buyer sued Pam for not disclosing the problem. An illustration of the above is the difference in markets for robots in China compared to the United States after the 2008 financial crisis. 5 acres Learn how it impacts trade. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. What is the median price of homes today? Land includes any natural resource used to produce goods and services; anything that comes from the land. Real Estate includes all of the following except: Property rights. What kind of closing technique is Jim using? A. 2240 acres tT4486468511057126214681671. b. recorded plat But, if yields and labor productivity do not increase it will have far-reaching consequences for global poverty, and protection of the environment. What Is a Sunk Costand the Sunk Cost Fallacy? 20.6 tomatoes contain a soybean's gene for disease resistance. 63- Jennys home appraised for $550,000. However, during periods of economic expansion, they invest in new machinery and equipment to bring new products to market. c. to protect against liens (95, 93, 120, 94, 93, 129). b. How much will your insurance cost per month? When comparing printers, make sure to compare the cost per. $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. Land resources are the raw materials in the production process. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? The four agents of production are land, ________, capital, and _____________. A. 95- Who is liable for the withholding on the sale of a property owned by a foreigner? -pesticides kill prey thereby causing predators to starve or migrate. All of the following are similarities between undernutrition and overnutrition except, both involve lack of access to sufficient daily calories. It would be misleading if the appraiser did not disclose the existence of this structure in the report. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. The continued popularity of the product meant that Zuckerberg also had to scale technology and operations. 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 . Jim and Jane financed the remaining $25,000 through the seller. Secure documents that are public information from the courthouse and other sources available to the public. 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). For example, a software company that relies primarily on the labor of skilled software engineers might see labor as its most valuable factor of production. Which law extended discrimination to include handicap and familial status? Improvements in crop yields have been essential to feed a growing population, while reducing the environmental impact of food production at the same time. B) assumption of any liens or mortgages on the property. c. sections Indicate whether each item is dis 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? 4. What property type will he be dealing with? 75- All but which of the following is NOT an AIDA feature? This topic page can be cited as: All visualizations, data, and code produced by Our World in Data are completely open access under the Creative Commons BY license. Prices of properties currently on the market, C. Properties that were listed but did not sell. D. Do not show the home between 10 a.m. and noon on Sundays. 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. In the chart here we see a global map of land used for arable agriculture (as a share of total land area). 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? What kind of lease does Jim have? Even an artist involved in making art, whether it is a painting or a symphony, is considered labor. D. Their loan payments will gradually increase. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. What is the mean sale price? 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? Which countries are overapplying nitrogen without gains in crop yields? The metes and bounds form of land description uses: 2. a township contains how many square miles? A. resistant to viral diseases, drought, heat, or herbicides. Which is a true statement? b. an environmental impact statement 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? Practice Questions with no Answers for Preview, >Ch7-9 R.E. Guide for authors - Agricultural Systems - ISSN 0308-521X - Elsevier Find a home that meets FHA requirements. National Agricultural Statistics Service - Census of Agriculture - USDA B. The purchase price, plus improvements, C. The fair market value at the time of sale. 8. Production, such as manufacturing, can be tracked by certain indexes, including the ISM manufacturing index. 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. d. 1/2 mile, 22. Lots and blocks are appox. C2H5Br(alc)+OH(alc)C2H5OH(I)+Br(alc), is first order each in ethyl bromide and hydroxide ion. Information on current loan programs. When, is 0.100 M, the rate of disappearance of ethyl bromide is, 1.7107M/s1.7 \times 10 ^ { - 7 } \mathrm { M } / \mathrm { s } A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. Broker Alice holds an uncashed check until the offer is accepted. D) grading, filling, draining, and clearing costs. 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. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. Which of the following would be PRIVATE restrictions on property rights? Finally, capital refers to the cash, equipment, and other assets needed to start or grow a business. The table shows values of this function recorded every two hours. D. Broker Gina puts $150 into her trust account. Prices have been increasing at the rate of 8% per year. A. 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. Brenda refuses. What is the mean of the GRMs? C. Use an attractive first-class stamp. 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.. 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. 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. D. The UCC is a body of law that standardizes a number of business practices. c. a determination of the area of the property In capitalism, the factors of production are most often controlled by business owners and investors. You can say that the land is preserved wilderness, or put it to some kind of agricultural use to save on property taxes. All of the following statements about the US government survey system are true except: c. lot, block and subdivision All the software and code that we write is open source and made available via GitHub under the permissive MIT license. The factors of production are land, labor, capital, and entrepreneurship. This term typically refers to. How much cropland has the world spared due to increases in crop yields? d. lots and blocks, 16. All of these factors contribute to the food shortages in Developing countries except, increased mortality of infants and children. Chapter 4 PAS 2 Inventories docx - CALAMBA CAMPUS, BRGY - StuDocu The definition of factors of production in economic systems presumes that ownership lies with households, who lend or lease them to entrepreneurs and organizations. Countries that are rich in human capital experience increased productivity and efficiency. b. Land Use - Our World in Data The cost of land typically includes all, except a. Grading, filling, draining and cleaning cost b. Solved Knowledge Check 01 Merchandise Inventory includes all | Chegg.com Today, capital and labor remain the two primary inputs for processes and profits. Give credit to all potential borrowers. Jason Fernando is a professional investor and writer who enjoys tackling and communicating complex business and financial problems. She has an access right of way across the property of her neighbor Bob Smith for ingress, egress, and regress. The right to construct and maintain tunnels, subways, subcellars, pipelines, sewers, etc. is the definition of _________ rights. A. Generates leads for new listings. D. All adjustable rate mortgages have negative amortization. Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. c. check C) street lights, sewers, and drainage systems cost. 44- Jim owns a gift shop in a commercial building. 86- Which of the following is not considered a benefit of investing in real estate? As a result, the country became the biggest market for robots. Nicknames for Los AngelesA nickname is a shortened form of a person's d. encroachment, 13. Which is the fullest and most complete type of estate? However, collective good is the predominating principle in socialism. a. government survey system Labor refers to the effort expended by an individual to bring a product or service to the market. C. Once filed, it remains until terminated. For a group of early French economists called the physiocrats, who predated the classical political economists, land was responsible for generating economic value. the estimated cost to -replace a property, a guarantee of the true worth of a property, the President of The Appraisal Foundation. c. 200 acres 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. c. the section lines must be clearly noted The appraisal standards and qualification criteria promulgated by the boards of The Appraisal Foundation achieves legal authority by adoption, citation or implementation by, government agenciesthe U.S Congress onlyFannie Mae and Freddie MacGinnie Mae. c. 25 acres d. 600 ft, 37. During this interim period, grant makes monthly rent payments and the owner accepts them. the appraisers value opinionthe borrowers estimate of valuethe square footage of the homenone of these. A potential benefit of genetic engineering is the development of crop plants. The cost of land typically includes the purchase price and all of the following costs except A) private driveways and parking lots. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. There are four factors of productionland, labor, capital, and entrepreneurship. Production workers are paid for their time and effort in wages that depend on their skill and training. What are the Factors of Production - Federal Reserve Bank of St. Louis The other 75% came from an hourly wage paid by Tami. 103- Kirk and Sandy obtained a wraparound mortgage. The borrower makes payments of interest only over the term of the loan. 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. C. I will open my own office within nine years. Land has a broad definition as a factor of production and can take on various forms, from agricultural land to commercial real estate to the resources available from a particular piece of land. A(n) __________ contract is one that is not been fully performed or completed. Entrepreneur Howard Schultz, the companys founder, provided the fourth factor of production by being the first person to realize that a market for such a chain existed and figuring out the connections among the other three factors of production. Because entrepreneurs are vital for economic growth, countries are creating the necessary framework and policies to make it easier for them to start companies. C. Parks. Depending on the specific circumstances, one or more factors of production might be more important than the others. Goodwill is an intangible asset that results from the reputation of the business. B. B. The cost of purchase of inventory does not include a. c. an encroaching elm tree Both types of leases involve different forms of a definite rental rate. B. Jim Sharp is purchasing his fathers home. B. , ided by total investment.. total investment is current assets (inventories, accounts receivables and cash) plus fixed assets. 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. D. An exclusive listing must always be at least 30 days long. d. 640 acres, 38. gives the FBI jurisdiction over state authorities in certain casesprohibits fraud in real estate transactionsestablishes penalties for any criminal activitiesrequires certain documents to be in writing, prohibits fraud in real estate transactions. 62- When agent Hal shows a home he should never: A. \text{t} & \text{4} & \text{6} & \text{8} & \text{10} & \text{12} & \text{14} & \text{16}\\ Crop Yields - Our World in Data Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. California: Real Estate Practice Sample of Final Course Exam, Answers will be revealed with the correct subscription. A problem with the real property market is that the amount of ________ is slow to change. 76- Mark believes he has been discriminated against during his home search. b. a description of the property using metes and bounds 39- When doing a competitive market analysis, an agent looks at all but which of the following factors? The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. A. Ken is responsible for his own taxes, while the broker pays Sarahs. The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors. 435,600 square feet In economics, capital typically refers to money. The US government survey uses all of the following EXCEPT: 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? The modern definition of factors of production is primarily derived from a neoclassical view of economics. Their first mortgage will get paid off immediately. 54- Jim and Jane are buying a home for $120,000. In the 1970s, who developed uniform rules for mortgage underwriting? A. 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. In the above question, the increased value created by the assemblage is called: disposal of livestock wastes D. The first and second mortgage will be rolled into one. Start in the room with the best features. d. to make sure the improvements are constructed on the mortgaged lot, d. to make sure the improvements are constructed on the mortgaged lot, 33. Housing and Community Development Act. Which of the following items can Matt not add to the original cost when doing the computation? C. The loan term will extend gradually over time. -All of the above How many months inventory does this represent? c. recorded plat 77- Which of the following Internet pages might not be of particular interest to buyers? 29- Which of the following is not a good direct mail technique? D. Brenda has not violated any fiduciary duty. A net listing is illegal in all states. Which statement is true? The factors of production are an important economic concept outlining the elements needed to produce a good or service for sale. b. to protect against encroachments You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. 52- Which statement is true about a listing contract? The recent trend of U.S. prime farmland has been a loss of 160,000 hectares per year. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. d. 2.5 square miles, 15. An example of entrepreneurship is the evolution of the social media behemoth Meta (META), formerly Facebook. b. us government system 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. This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. What should Tom do? How would Grants lease at this time be classified? 11- Broker Jill has an agreement with seller Alice that says Jill will receive compensation if anyone except Alice sells Alices home, what kind of agreement is this? The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. At the end of the term, the loan balance will be negative. Which of the following statements is TRUE about metes and bounds? 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. The introduction of technology into a labor or capital process makes it more efficient. It must be in writing to be enforceable. Land improvement c. Land d. Expense; Answer B 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. For the early political economists, labor was the primary driver of economic value. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? a. putting more land into production b. increasing the yield of land under cultivation. He paid $100,000 for it, and made $300,000 worth of improvements. 1. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. As a factor of production, capital refers to the purchase of goods made with money in production. He just sold it for $13,000. Understanding Agricultural Tax Exemptions - SmartAsset 100- What does the Real Estate Disclosure Law refer to? Erosion a. plottage A. I will complete the GRI certification in the next four years. a. to protect the buyer by showing the size of the lot c. 8.4 A. A property is owned as tenancy in severalty. \text{T} & \text{48} & \text{46} & \text{51} & \text{57} & \text{62} & \text{68} & \text{71}\\ Her expertise is in personal finance and investing, and real estate. 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? 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. c. accretion A social entrepreneur is a person who pursues an innovative idea with the potential to solve a community problem. A. D. Amanda smiles at Jim when she sees the whirlpool tub. soil erosion The lender will allow you to spend up to 28% of your annual income for housing costs, including your mortgage, property taxes, and insurance. 30- Being prepared to handle incoming phone calls means all of the following except which? TFA - Chapter 39 - Land, Building and Machinery - StuDocu