What is the mean sale price? The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. B. 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? A. A. Which method of land description would describe an irregular piece of property? 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? 57- Under federal income tax law, the basis for a personal residence is which of the following: A. -pesticides show mobility, moving other than where they were applied inadvertently killing non-pest organisms. An example of entrepreneurship is the evolution of the social media behemoth Meta (META), formerly Facebook. Special purpose: Property used by the public, such as cemeteries,. Because of their low clay content, sandy soils are often referred to as " light soils." a. redemption There are four factors of productionland, labor, capital, and entrepreneurship. What is the median price of homes today? antibiotic application 92- Which of the following situations is not exempt from the seller disclosure requirement? For example, private enterprises and individuals own most of the factors of production in capitalism. 65- Which of the following items is usually not prorated at closing? 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. c. 25 acres 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 . Each of these requires significant real estate and capital investments. C. The date the lender receives her application. His depreciation was $2,500 per year. Entrepreneurship is the secret sauce that combines all the other factors of production into a product or service for the consumer market. He paid $100,000 for it, and made $300,000 worth of improvements. Inventory (increase). c. check A. A potential benefit of genetic engineering is the development of crop plants. d. encroachment, 13. 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 a) construct an influence diagram that relates these variables 29- Which of the following is not a good direct mail technique? b. an environmental impact statement B. Jim Sharp is purchasing his fathers home. 30- Being prepared to handle incoming phone calls means all of the following except which? Her expertise is in personal finance and investing, and real estate. 100- What does the Real Estate Disclosure Law refer to? The greater a firm's or country's TFP, the greater its growth. a. a series of wire links each 7.92' long b. to protect against encroachments 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. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? 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. 52- Which statement is true about a listing contract? D. I will distribute 200 business cards every month for the next six months. c. us government survey, PO box, and metes and bounds a. frontage What is the mean of the GRMs? b. the description is imperfect if it does not end at the point of beginning c. to protect against liens b. (c) 3.31014m3.3\times10^{-14}\;\mathrm{m}3.31014m Land, labor, and capital as factors of production were originally identified by early political economists such as Adam Smith, David Ricardo, and Karl Marx. What kind of mortgage are they looking for? the radius of the first Bohr orbit and the magnitude of the lowest energy for the hydrogen atom can be written as, a0=cmc2=c2E1=122mc2a_0=\frac{\hbar c}{\alpha m c^2}=\frac{\lambda_c}{2 \pi \alpha} \quad E_1=\frac{1}{2} \alpha^2 m c^2 During this interim period, grant makes monthly rent payments and the owner accepts them. C. Theyre probably paying a higher interest rate on the second mortgage. Each of their payments is for the same amount. California: Real Estate Practice Sample of Final Course Exam, Answers will be revealed with the correct subscription. Who has the dominant tenement in this situation? Demand analysis in a market indicates that 15 houses per month can be sold in the market. B. Costs directly related to the . Last year, about 25% of his income came from sales commissions. The introduction of technology into a labor or capital process makes it more efficient. B. Pam is not liable since it was summer and the heating problem was not obvious. 28- Abby applies for a federally-related loan to purchase a home. C. Neither Sarah nor Ken can get employer-provided health insurance. Today, capital and labor remain the two primary inputs for processes and profits. B. A. "Sustaining Chinas Economic Growth After the Global Financial Crisis," Pages 1-2. International Federation of Robotics. The majority of GM crops in the United States are regulated by the United States Department of Agriculture. closed in the operating activities (O), investing activities (I), or financing activities (F) section of the statement or use (NA) if the item does not appear on the statement. Insurance will cost $6.00 per thousand per year. [2] [3] It is generally synonymous with both farmland or cropland, as well as pasture or rangeland . He sold the building for $1,000,000 and paid $60,000 in commission to the broker. The fees that Eric charges Paul for making the loan could be any but which of the following amounts? The simplot house, Brentwood Subdivision, Sun Rose township, Great Falls MT 59405 7- In the initial meetings with the prospects, the agent should do all of the following except which? Land includes any natural resource used to produce goods and services; anything that comes from the land. Take the potential energy for the system with the brick placed at infinity to be zero. Pastures are those lands that are primarily used for the production of adapted, domesticated forage plants for livestock. 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. 88- Sally and Dan must pay 2 points on their new $65,000 loan. Which of the following would be the least likely place for them to obtain a loan? Browse over 1 million classes created by top students, professors, publishers, and experts. Indicate whether each item is dis . Double-Declining Balance (DDB) Depreciation Method Definition With Formula. 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Purchase price b. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. Production, such as manufacturing, can be tracked by certain indexes, including the ISM manufacturing index. A property owner on a river or creek is said to have which type of rights? 1. Absolute advantage allows an entity to produce a greater quantity of the same good or service with the same constraints than another entity. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. B. Agricultural Systems is an international journal that deals with interactions - among the components of agricultural systems, among hierarchical levels of agricultural systems, between agricultural and other land use systems, and between agricultural systems and their natural and social environments. D. Farms. 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 It must be in writing to be enforceable. C. Have keys made for company listings. Help us do this work by making a donation. Please consult our full legal disclaimer. Building b. Crop yields might seem far from being one of the worlds largest problems. The World Bank divides the world into four groups. (a) 2.01020m2.0\times10^{-20}\;\mathrm{m}2.01020m Information on current loan programs. 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, >Ch10-12 R.E. Calculate the de Broglie wavelength associated with a helium-4 atom (4.00 amu) moving at 3.0106m/s3.0\times10^6\;\mathrm{m/s}3.0106m/s. Both types of leases involve different forms of a definite rental rate. 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? 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. However, as business continued to grow, Meta built its own office space and data centers. B. Brenda has violated the fiduciary duty of obedience to Jim. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. A. It does not include land that is predominantly under agricultural or urban land use. Two months later she purchased and moved into a new home that cost $145,000. d. depth, 25. C. Parks. You want to insure it for 80% of value and the annual insurance premium will cost $5.75 per thousand. 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. In capitalism, the factors of production are most often controlled by business owners and investors. 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. 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. B. The land that is least conducive to agriculture is sandy soil. To that end, technologylike moneyis a facilitator of the factors of production. Which of the following would be PRIVATE restrictions on property rights? The modern definition of factors of production is primarily derived from a neoclassical view of economics. The four components of the Appraiser Qualification Criteria are: qualifying education, examination, experience, continuing education. a. putting more land into production b. increasing the yield of land under cultivation. 5 acres a. Integrated pest management incorporates all of the following methods except Which law extended discrimination to include handicap and familial status? What is the key feature of this type of loan? soil erosion What Are the Most Important Aspects of a Capitalist System? ", U.S. International Trade Commission. 57- Under federal income tax law, the basis for a personal residence is which of the following: 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. While not directly listed as a factor, technology plays a vital role in influencing production. D. Their lender can profit from the difference in interest rates. A. He hired two people, an engineer (Dustin Moskovitz) and a spokesperson (Chris Hughes), who both allocated hours to the project, meaning that their invested time became a factor of production. limited use of pesticides, Which of the following is not a problem associated with industrial agriculture? D. The date Abby makes the request to receive the booklet. On the other hand, land is the most significant investment for a real estate venture. 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? Whoever brings the buyer will get the commission. B. 56- Which is not a true statement about the Agency Disclosure? A. I will complete the GRI certification in the next four years. A. c. 2 townships c. highest and best use Production workers are paid for their time and effort in wages that depend on their skill and training. d. metes and bounds, 17. A land owner is contemplating building a septic tank sewer system on his lot. 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? Practice Questions with no Answers for Preview, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. Prices of properties currently on the market, C. Properties that were listed but did not sell. D. All adjustable rate mortgages have negative amortization. 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. Practice Questions with no Answers for Preview, >Practice Exam for R.E. 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? 70- Which of these items would be a credit to the buyer on the settlement statement? But, if yields and labor productivity do not increase it will have far-reaching consequences for global poverty, and protection of the environment. Which countries are overapplying nitrogen without gains in crop yields? Land improvement c. Land d. Expense; Answer B 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. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? 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. For example, a technology company can easily begin operations with zero investment in land. It amalgamates past approaches to economic theory, such as the concept of labor as a factor of production from socialism, into a single definition. Which of the following would NOT be considered a negative easement? turnover is sales div C. I will open my own office within nine years. Erosion Proceeds from issuance of stock. Broker Alice holds an uncashed check until the offer is accepted. 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 these statements is true about the wraparound mortgage? This site is using cookies under cookie policy . 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. Ask questions of the prospects children. t46810121416T48465157626871\begin{matrix} You can specify conditions of storing and accessing cookies in your browser. Which statement is true? Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. C) street lights, sewers, and drainage systems cost. Which statement is true ? C. Allow indoor pets to leave their designated area. a. each check contain 16 townships who four boundaries each measure 6 miles Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. A problem with the real property market is that the amount of ________ is slow to change. D. Have the prospects sign the disclosure about agency relationship. The home comes equipped with all furnishings. C. Use an attractive first-class stamp. How much did Sam gain or lose on the sale? Generally, Light, warm, dry, sandy soil that is acidic and deficient in nutrients is what you may expect to find in a typical climate. 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. Special assessment for drainage system c. Private driveway and parking lot d. Assumption of any lien on the property; Answer C. Fence and parking lot are reported as a. International (Global) Trade: Definition, Benefits, Criticisms. B. a. a radon level test The other 75% came from an hourly wage paid by Tami. B. 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. a. Values increased in that area by 5% the first year and 7% the second year. 23- Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. All of the following are similarities between undernutrition and overnutrition except, both involve lack of access to sufficient daily calories. 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. 2240 acres What is Gregs capital gain on the apartment? ", Starbucks Coffee Corporation. 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. For the early political economists, labor was the primary driver of economic value. b. riparian 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? 105- Agent Alice has received an offer that she believes is not in the sellers best interest. For example, an accountants job requires the analysis of financial data for a company. Which is the fullest and most complete type of estate? Skilled and trained workers are called human capital and are paid higher wages because they bring more than their physical capacity to the task. What will they have to pay at closing for the points? 76- Mark believes he has been discriminated against during his home search. What is the purpose of a states statute of frauds? d. mete, 23. d. 1/2 mile, 22. You can learn more about the standards we follow in producing accurate, unbiased content in our, The Evolution of Accounting and Accounting Terminology. depletion of fossil fuels The listing agent must provide the disclosure to the seller prior to securing the listing agreement. Labor refers to all wage-earning activities, such as the work of professionals, retail workers, and so on. 21- Which form of advertising is considered the most cost-effective method for selling a home? Find a home that meets FHA requirements. 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: For people and planet, its one of our most important problems to work on. What Is a Sunk Costand the Sunk Cost Fallacy? The borrower makes payments of interest only over the term of the loan. All of the following statements about the US government survey system are true except: Get started for free! The factors of production are land, labor, capital, and entrepreneurship. C. Exclusive-authorization-and-right-to-sell. . How many acres are there is the described property? A survey would reveal all of the following about a property EXCEPT: 10. The date Abby receives the good faith estimate. The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors. Labors transaction with firms is based on wages. 81- Jake has decided to specialize in working with clients who purchase schools. A lot measures 248.4 feet X 378.90 feet. b. a description of the property using metes and bounds A. 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. 3400 acres c. the section lines must be clearly noted B. $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. b. Countries that are rich in human capital experience increased productivity and efficiency. 37- When dealing with the sale of a business, which is not a true statement? 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? d. lots and blocks, 16. B. Practice Questions with no Answers for Preview, >Ch16-18 R.E. B. How long does he have to file a complaint with the Department of Housing and Urban Development? He raised venture capital money to rent office space, hire more employees, and purchase additional server space for development. Federal Reserve Bank of San Francisco. Read about productivity in the workplace and how productivity impacts investments. 3. You want to insure it for 80% of value. 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.. 5. c. 66 feet Practice Questions with no Answers 33- Which statement is true about a loan that has a negative amortization? c. 8.4 The buyer was responsible for making the discovery, so Pam is therefore liable. Deforestation is the permanent removal of trees to make room for something besides forest. The borrowers family in case of his or her death, B. As a factor of production, capital refers to the purchase of goods made with money in production. Why is the Schroendinger equation not valid for relativistic particles? 1.7107M/s. C. Jim and Amanda whisper and frown when they see the basement. Your property, which consists of a house on a lot, is valued at $186,000. D. Offer something valuable to the reader. d. annexation, 32. However, collective good is the predominating principle in socialism. Which of the following methods of legal land description would most likely be used to describe agricultural lands? 31- Patrick has a written independent contractor agreement with his broker Tami. This is called: The cost of land typically includes the purchase price and all of the following costs except A) private driveways and parking lots. c. a determination of the area of the property Use these expressions to check the numerical values of the constants a0a_0a0 and E1E_1E1.