The permanent receding of water increases the land owner's property by: Which of the following would NOT be considered a negative easement? D. Seeking buyers for others agents listings. Secure documents that are public information from the courthouse and other sources available to the public. Which statement is TRUE regarding this situation? Both types of leases involve different forms of a definite rental rate. d. 600 ft, 37. C. The loan term will extend gradually over time. 51- Which statement is true about a homeowners exemption? a. A lot measures 248.4 feet X 378.90 feet. D. Pam is has no duty to investigate and may rely on the opinion of a heating professional or home inspector. Who will pay the points? 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. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? b. accretion For people and planet, it's one of . 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. 54- Jim and Jane are buying a home for $120,000. 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. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. 87- What information can you gather from the newspaper to help develop a Prospecting Plan? c. 8.4 Cultivation of crops on land by farmers increases its value and utility. Give the prospects a black copy of a purchase agreement to look over. The costs of conversion of inventory include all of the following, except a. How much cropland has the world spared due to increases in crop yields? Capital also follows a similar model in that it can be owned or leased from another party. 64- Which of the following is not a form of personal advertising? 30.4 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. B. 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. Practice Questions with no Answers for Preview, >Ch10-12 R.E. D. The appraised value prior to sale Why? C. Payments will not be enough to retire the loan. What is the median of these indications? tT4486468511057126214681671. For example, the use of robots in manufacturing has the potential to improve productivity and output. Lots and blocks are appox. Read about productivity in the workplace and how productivity impacts investments. a. an identification of the grantor and grantee What kind of closing technique is Jim using? 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? Sustainable agriculture encourages the use of antibiotics to prevent disease. Countries that are rich in human capital experience increased productivity and efficiency. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? B. However, as business continued to grow, Meta built its own office space and data centers. What is the mean of the GRMs? Which of the following items can Matt not add to the original cost when doing the computation? 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. A. The voluntary giving of land for public use by an owner is: D. The monthly payments increase overtime. antibiotic application 100 acres You will also have to pay 2.75 points on the loan. What is the median price of homes today? Which is a true statement? c. 25 acres 95- Who is liable for the withholding on the sale of a property owned by a foreigner? b. an environmental impact statement c. lot, block, and subdivision strategies used to increase the supply of food for a country could include. 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). d. lots and blocks, 16. a. survey D. Farms. , ided by total investment.. total investment is current assets (inventories, accounts receivables and cash) plus fixed assets. D. An exclusive listing must always be at least 30 days long. a. recorded plat, us government survey, and street address. The median price of homes sold in your county nine months ago was $217,400. 6. C. Use an attractive first-class stamp. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. Gradual declines have occurred in cropland and pasture . The factors of production are land, labor, capital, and entrepreneurship. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. They are commonly broken down into four elements: land, labor, capital, and entrepreneurship. 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 . Their first mortgage will get paid off immediately. The purchase price, plus improvements, C. The fair market value at the time of sale. The metes and bounds form of land description uses: 2. a township contains how many square miles? the appraisers value opinionthe borrowers estimate of valuethe square footage of the homenone of these. B. Brenda has violated the fiduciary duty of obedience to Jim. a. the water rights reserved by a previous owner U.S. land area covers nearly 2.3 billion acres. Each of these requires significant real estate and capital investments. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. The lender will allow you to spend up to 28% of your annual income for housing costs, including your mortgage, property taxes, and insurance. B. Prices of properties currently on the market, C. Properties that were listed but did not sell. Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. 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. They will owe a balloon payment at the end of the loan term. It does not include land that is predominantly under agricultural or urban land use. At first, there was no need for land. Crop yields might seem far from being one of the world's largest problems. All of the following statements about the US government survey system are true except: 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. What is sandy soil? d. mete, 23. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. D. Broker Gina puts $150 into her trust account. The original loan becomes subordinate to the wraparound. Values increased in that area by 5% the first year and 7% the second year. John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, David N. Shier, Jackie L. Butler, Ricki Lewis, Nursing Fundamentals- Medication Administrati. During the time Sam owned the property he paid $350 per year in taxes, $150 per year on maintenance like grass cutting and $90 per year on miscellaneous expenses. habitiat fragmentation, none, these are all problems associated with industrial agriculture. A. The principle of supply and demand states that the price of a commodity, good, or service varies __________, but not necessarily _____________, with demand. crop rotation You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. These include white papers, government data, original reporting, and interviews with industry experts. D. The first and second mortgage will be rolled into one. You have found comparable sales of rural land parcels that indicate the following sale prices per acre: ($930, $775, $1202, $995, $1612, $906). b. a description of the property using metes and bounds The Uniform Commercial Code covers the sale of goods over $________. He raised venture capital money to rent office space, hire more employees, and purchase additional server space for development. There are currently 180 houses for sale in this market. Which method of land description would describe an irregular piece of property? His depreciation was $2,500 per year. The interest rate will increase gradually over time. How much will your insurance cost per month? A net listing is illegal in all states. Deposit the check into his trust fund account on the next business day. Productivity measures the efficiency of production in economics. 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? 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? A. ", Starbucks Coffee Corporation. A. disease-resistant crop varieties b. metes and bounds The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. B. B. 1. B. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. A potential benefit of genetic engineering is the development of crop plants. She is probably using all but which of the following tools? B. Pam is not liable since it was summer and the heating problem was not obvious. Ask questions of the prospects children. 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. b. easement How would Grants lease at this time be classified? An example of entrepreneurship is the evolution of the social media behemoth Meta (META), formerly Facebook. But, if yields and labor productivity do not increase it will have far-reaching consequences for global poverty, and protection of the environment. B. (e) 6.61027m6.6\times10^{-27}\;\mathrm{m}6.61027m. This can result in a transformation of factors of production for entire industries. 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. Her asking price was $560,000 and the property sold for $575,000. Purchase price b. The term of the loan can be shortened. Installation of central air conditioning, D. Addition of a tenant laundry facility. Please remove your shoes before entering the home. What Is Depreciation, and How Is It Calculated? 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. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. Prices have been increasing at the rate of 8% per year. The adjusted cost basis of the first home was $140,000. What did it sell for per acre? 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: 22- Jane sold her personal home for $148,000. Accounts payable (decrease). f(z)=z3z2+2z+2f(z)=\frac{z-3}{z^{2}+2 z+2}f(z)=z2+2z+2z3. For example, a tractor purchased for farming is capital. What test would determine the ground's ability to absorb water? A survey would reveal all of the following about a property EXCEPT: 10. You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. C. Find a lender who is willing to do FHA loans. 81- Jake has decided to specialize in working with clients who purchase schools. 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. a. a radon level test Image by Sabrina Jiang Investopedia2020, Absorption Costing Explained, With Pros and Cons and Example, What Is an Amortization Schedule? The simplot house, Brentwood Subdivision, Sun Rose township, Great Falls MT 59405 It sold for $80,000. a. 37- When dealing with the sale of a business, which is not a true statement? D. Offer something valuable to the reader. B. The borrower makes payments of interest only over the term of the loan. 56- Which is not a true statement about the Agency Disclosure? A. Generates leads for new listings. A survey would reveal all of the following about a property EXCEPT: By increasing crop yields we can reduce the amount of land we use for agriculture. B. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? A. How many months inventory does this represent? A. d. 1/2 mile, 22. The four agents of production are land, ________, capital, and _____________. C. Jim and Amanda whisper and frown when they see the basement. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. 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 C. Theyre probably paying a higher interest rate on the second mortgage. It can be considered an employment contract. resistant to viral diseases, drought, heat, or herbicides. Purchase of investments. A. c. 2 townships C. Have keys made for company listings. Which entity is responsible for monitoring state appraiser licensing and certification agencies? 57- Under federal income tax law, the basis for a personal residence is which of the following: A. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. 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 . 1.7107M/s. 65- Which of the following items is usually not prorated at closing? Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. c. in each township section 7 is south of section 6. d. there are 36 sections in a township. You want to insure it for 80% of value and the annual insurance premium will cost $5.75 per thousand. By increasing crop yields we can reduce the amount of land we use for agriculture. For example, a technology company can easily begin operations with zero investment in land. ", Association for Advancing Automation. c. us government survey, PO box, and metes and bounds 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. d. The Jones farm 13 miles west of Clinton, MT, c. Lot 2 block M, Lincoln wood subdivision, missoula country, MT 59802, 31. 92- Which of the following situations is not exempt from the seller disclosure requirement? The difference in skill levels and terminology also helps companies and entrepreneurs create corresponding disparities in pay scales. D. All adjustable rate mortgages have negative amortization. real estatesavings accountmoney market fundcertificate of deposit. B. I will do two practice listing presentations per week with an experienced agent for the next two months. Because entrepreneurs are vital for economic growth, countries are creating the necessary framework and policies to make it easier for them to start companies. This is further explained below. 7. 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. b. to protect against encroachments How much is your property worth today? What should Alice do? a. frontage ROI is equal to turnover multiplied by earning as a percent of sales. B. For example, an accountants job requires the analysis of financial data for a company. 66- When doing a listing presentation which of the following items would you not describe to the owners as being a benefit of listing with an agent? . 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? A. Factors of production are the inputs needed for creating a good or service, and the factors of production include land, labor, entrepreneurship, and capital. -pesticides kill prey thereby causing predators to starve or migrate. For modern mainstream (neoclassical) economists, capital is the primary driver of value. D. Understanding characteristics of the rental market. Start in the room with the best features. c. reliction 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 basis of $145,000 and a taxable gain of $3,000, C. A basis of $130,000 and a table gain of $18,000. The purchase price, plus improvements c. lien d. recorded plat, us government survey and metes and bounds, d. recorded plat, us government survey and metes and bounds, 18. Building b. Sustainable land use can help to reduce the impacts of agriculture and livestock, preventing soil degradation and erosion and the loss of valuable land to desertification. Take the potential energy for the system with the brick placed at infinity to be zero. The purchase price, plus depreciation 1. 75 Here are all the sales in your area in the last 4 months. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. 5 acres a. putting more land into production b. increasing the yield of land under cultivation. But, if yields and labor productivity do not increase it will have far-reaching consequences for global poverty, and protection of the environment. 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. Each of their payments is for the same amount. How Cash Books Work, With Examples, Cost of Debt: What It Means, With Formulas to Calculate It, Cost of Equity Definition, Formula, and Example, Cost-Volume-Profit (CVP) Analysis: What It Is and the Formula for Calculating It, Current Account: Definition and What Influences It, Days Payable Outstanding (DPO) Defined and How It's Calculated. Your property, which consists of a house and lot, is valued at $244,000. d. accretion, 36. a triangular lot with a base of 300 ft on the street contain 10,000 sq yards What is the depth of the lot? Explain the meaning of abov (a) 2.01020m2.0\times10^{-20}\;\mathrm{m}2.01020m Economic Order Quantity: What Does It Mean and Who Is It Important For? 100- What does the Real Estate Disclosure Law refer to? Which is NOT a requirement of a valid deed? tomatoes contain a soybean's gene for disease resistance. C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. 3. a plat map is used in which type of legal description? D. Exclusive-authorization-and-right-to-sell agreement. 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. 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. b. recorded plat Practice Questions with no Answers for Preview, >Ch13-15 R.E. How much did Sam gain or lose on the sale? 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. 80- Which of the following is an example of commingling? 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? The size of agricultural property tax exemptions varies from state to state because property taxes aren't administered at the federal level. 6- According to California real estate law, how often must a broker balance his or her trust accounts? c. the section lines must be clearly noted turnover is sales div You want to insure it for 80% of value. \text{T} & \text{48} & \text{46} & \text{51} & \text{57} & \text{62} & \text{68} & \text{71}\\ Practice Questions with no Answers for Preview, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. California: Real Estate Practice Sample of Final Course Exam, Answers will be revealed with the correct subscription. A property is owned as tenancy in severalty. Factors of production is an economic term that describes the inputs used in the productionof goods or services to make an economic profit. 4 Factors of Production Explained With Examples, Fiscal Year: What It Is and Advantages Over Calendar Year, How a General Ledger Works With Double-Entry Accounting Along With Examples, Just-in-Time (JIT): Definition, Example, and Pros & Cons, Net Operating Loss (NOL): Definition and Carryforward Rules, NRV: What Net Realizable Value Is and a Formula To Calculate It, No-Shop Clause: Meaning, Examples and Exceptions, Operating Costs Definition: Formula, Types, and Real-World Examples, Operating Profit: How to Calculate, What It Tells You, Example, Production Costs: What They Are and How to Calculate Them, What Is a Pro Forma Invoice? c. to protect against liens What will the new owners pay in property taxes? 74- Which statement is not true about an agency relationship? In economics, capital typically refers to money. a. government survey It is determined by who pays the compensation. Which of these factors would result in a violation of USPAP if the appraiser based his or her appraisal fee on it? Finally, capital refers to the cash, equipment, and other assets needed to start or grow a business. Depending on the specific circumstances, one or more factors of production might be more important than the others. The cost of land typically includes all, except a. Grading, filling, draining and cleaning cost b. He pays rent for occupancy, plus maintenance and operating expenses. Again, it can take on various forms. 21- Which form of advertising is considered the most cost-effective method for selling a home? Organisms at higher levels on food webs tend to have greater concentrations of bioaccumulated pesticide stored in their bodies through a process known as. Which of the following types of agriculture is correctly matched with the agricultural practice? The proportion of the land base in agricultural uses has declined from 63 percent in 1949 to 51 percent in 2007. It must be in writing to be enforceable. Jim and Jane financed the remaining $25,000 through the seller. Which statement is true? 50- Harry has some buyers that he believes are ready to make an offer. d. metes and bounds, 17. Which law extended discrimination to include handicap and familial status? 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. A. Ken is responsible for his own taxes, while the broker pays Sarahs. b. a parcel of land is 1/8 mile by 1/8 mile is 40 acres. Which of the following is an example of a genetically modified crop? This site is using cookies under cookie policy . 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. D) grading, filling, draining, and clearing costs. c. 400 ft C. Neither Sarah nor Ken can get employer-provided health insurance. 44- Jim owns a gift shop in a commercial building. Investopedia requires writers to use primary sources to support their work. 4. the point of beginning is associated with: 5. C. I will open my own office within nine years. What is Gregs capital gain on the apartment? Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Example Final Exam for R.E. 93- Jim has created a nice property flier for the James home. After Facebook, the social media site, became popular and spread across campuses, it realized it needed to recruit additional employees. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. For a group of early French economists called the physiocrats, who predated the classical political economists, land was responsible for generating economic value. How many owners are there? During an economic contraction or when they suffer losses, companies cut back on capital expenditure to ensure profits. b. the boundaries of the property 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.