88- Sally and Dan must pay 2 points on their new $65,000 loan. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? Agricultural land is typically land devoted to agriculture the systematic and controlled use of other forms of lifeparticularly the rearing of livestock and production of cropsto produce food for humans. Business Accounting 1. Image by Sabrina Jiang Investopedia2020, Absorption Costing Explained, With Pros and Cons and Example, What Is an Amortization Schedule? In economics, capital typically refers to money. The home comes equipped with all furnishings. This site is using cookies under cookie policy . The Federal Reserve can influence the level of economic activity by. D. The UCC is a body of law that standardizes a number of business practices. b. easement 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. B. It sold for $80,000. Which of the following would be considered an intermediate goal? 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? Land as a factor of production can mean agriculture and farming to the use of natural resources. 73- Which of these is not a buying signal? 70- Which of these items would be a credit to the buyer on the settlement statement? earnings equal sales minus the cost of sales Labors transaction with firms is based on wages. The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors. $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. He sells this right to nearby Property Owner B who wishes to develop his property into additional lots. These claims are overblown, but soil erosion is a problem and we can do something about it. C. It creates an agency relationship. A property is owned as tenancy in severalty. California: Real Estate Practice Sample of Final Course Exam, Answers will be revealed with the correct subscription. 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. Which statement is true? a. frontage Because of their low clay content, sandy soils are often referred to as "light soils.". 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. As a factor of production, capital refers to the purchase of goods made with money in production. 31- Patrick has a written independent contractor agreement with his broker Tami. 29- Which of the following is not a good direct mail technique? A business engaged in agriculture or farming as defined in MGL. d. mete, 23. You will also have to pay 2.75 points on the loan. d. benchmark, 30. It must be in writing to be enforceable. 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. Fragmentation is the use of various suppliers and manufacturers to produce a good. Land resources are the raw materials in the production process. Ownership of the factors of production also differs based on the economic system. D. Farms. 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. 6- According to California real estate law, how often must a broker balance his or her trust accounts? U.S. land area covers nearly 2.3 billion acres. What should Alice do? Which is NOT a requirement of a valid deed? \text{t} & \text{4} & \text{6} & \text{8} & \text{10} & \text{12} & \text{14} & \text{16}\\ Get started for free! 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? How much will you have to deliver to closing to cover both the down payment and the loan points? Land, labor, and capital as factors of production were originally identified by early political economists such as Adam Smith, David Ricardo, and Karl Marx. 41- Agricultural land includes all of the following EXCEPT which? The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? c. 8.4 A. Brenda must follow all of Jims instructions. a. a radon level test Countries that are rich in human capital experience increased productivity and efficiency. The borrowers family in case of his or her death, B. Ask the buyers to sign a real estate transfer disclosure statement. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. Which of the following is an example of a genetically modified crop? The purchase price, plus improvements C. Analyzing the income potential of the property. B. But that is a theoretical construct and rarely the case in practice. Purchase of investments. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. b. the columns of townships running north and south within a check are called ranges B. b. reliction Learn how it impacts trade. 4. What is the mean of the GRMs? A lot measures 178 feet by 464 feet. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? Integrated pest management incorporates all of the following methods except Practice Questions with no Answers for Preview, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. The borrower makes payments of interest only over the term of the loan. d. lien, 35. The recent trend of U.S. prime farmland has been a loss of 160,000 hectares per year. Depending on the specific circumstances, one or more factors of production might be more important than the others. D. Amanda smiles at Jim when she sees the whirlpool tub. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. (a) 2.01020m2.0\times10^{-20}\;\mathrm{m}2.01020m C. Consider child support payments in the decision. 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? A basis of $148,000 and no taxable gain, B. C. Use an attractive first-class stamp. 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. What kind of a mortgage do they have? Use these expressions to check the numerical values of the constants a0a_0a0 and E1E_1E1. 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.. Sustainable agriculture encourages the use of antibiotics to prevent disease. The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. 87- What information can you gather from the newspaper to help develop a Prospecting Plan? How much is your property worth today? a. erosion You apply for a mortgage. Which of the following is not one of those groups? 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. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. 3. The length of the front of a lot on the street is referred to as the lot's: A. What is the key feature of this type of loan? An illustration of the above is the difference in markets for robots in China compared to the United States after the 2008 financial crisis. Derive an expression for the gravitational potential energy of a system consisting of Earth and a brick of mass m placed at Earths center. Productivity measures the efficiency of production in economics. Because of their low clay content, sandy soils are often referred to as " light soils." 2240 acres c. real estate broker 300 ft c. 66 feet a. seller 76- Mark believes he has been discriminated against during his home search. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. 4 rods 21- Which form of advertising is considered the most cost-effective method for selling a home? Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, insurance portfolio management, finance and accounting, personal investment and financial planning advice, and development of educational materials about life insurance and annuities. What kind of closing technique is Jim using? c. highest and best use Pastures are those lands that are primarily used for the production of adapted, domesticated forage plants for livestock. By increasing crop yields we can reduce the amount of land we use for agriculture. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. d. a setback, 12. A. Land improvement c. Land d. Expense; Answer B ROI is equal to turnover multiplied by earning as a percent of sales. B. The other 75% came from an hourly wage paid by Tami. 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. A. high income countries 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. 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? the same size 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? Prices have been increasing at the rate of 8% per year. C. I will open my own office within nine years. Start in the room with the best features. After Facebook, the social media site, became popular and spread across campuses, it realized it needed to recruit additional employees. A potential benefit of genetic engineering is the development of crop plants. Again, it can take on various forms. An open listing is an exclusive contract. D. Avoid negative comments while hes inside the home. While not directly listed as a factor, technology plays a vital role in influencing production. Values increased in that area by 5% the first year and 7% the second year. All of the following would be considered improvements to land EXCEPT. d. avulsion, 34. D. Have the prospects sign the disclosure about agency relationship. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. b. dedication d. The Jones farm 13 miles west of Clinton, MT, c. Lot 2 block M, Lincoln wood subdivision, missoula country, MT 59802, 31. Purchase price b. (95, 93, 120, 94, 93, 129). [2] [3] It is generally synonymous with both farmland or cropland, as well as pasture or rangeland . Which statement is TRUE regarding this situation? b. setback However, commentators sometimes refer to labor and capital as the two primary factors of production. this analysis can only be applied if there are no existing improvements. Real Estate includes all of the following except: Property rights. For purposes of federal income tax, which statement is true? c. an encroaching elm tree 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. There are currently 180 houses for sale in this market. D. An exclusive listing must always be at least 30 days long. Except for labor, ownership for factors of production varies based on industry and economic system. e statement and outline the possible factors that could determine the contextual Variations in the manifestation of entrepreneurship. 53- Greg sold an apartment building he owned for 20 years. 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. It does not include land that is predominantly under agricultural or urban land use. "The Industrial Robotics Industry in China: Demand and Domestic Innovation. Practice Questions with no Answers for Preview, >Ch16-18 R.E. Practice Questions with no Answers for Preview, >Ch10-12 R.E. D. Seeking buyers for others agents listings. D. Their lender can profit from the difference in interest rates. (c) 3.31014m3.3\times10^{-14}\;\mathrm{m}3.31014m c. 200 acres . A. "Sustaining Chinas Economic Growth After the Global Financial Crisis," Pages 1-2. International Federation of Robotics. a. putting more land into production b. increasing the yield of land under cultivation. c. lien Tip: to find a certain word or key term, press at the same time, the buttons: 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? The land that is least conducive to agriculture is sandy soil. Practice Questions with no Answers for Preview, >CALIFORNIA REAL ESTATE PRACTICE PRELICENSE CLASS, >CALIFORNIA LEGAL ASPECTS OF REAL ESTATE PRELICENSE CLASS, >ALL Questions with Answers for ALL 3 PreLicense Classes Guides on 1 page, >CALIFORNIA Fair Housing & Fair Housing with Role-Play Activity CE CLASSES Questions with Answers, >CALIFORNIA Fair Housing & Fair Housing with Role-Play Activity CE CLASSES Questions with no Answers for Preview, >CALIFORNIA Fair Housing & Fair Housing with Role-Play Activity CE CLASSES OVERVIEW, >CALIFORNIA Ethics CE CLASS Questions with Answers, >CALIFORNIA Ethics CE CLASS Questions with no Answers for Preview, >CALIFORNIA Ethics in the Age of Disruption CE CLASS Questions with Answers, >CALIFORNIA Ethics in the Age of Disruption CE CLASS Questions with no Answers for Preview, >CALIFORNIA Ethics in the Age of Disruption CE CLASS OVERVIEW, >CALIFORNIA NAR: May The Code Be With You CE CLASS Questions with Answers, >CALIFORNIA NAR: May The Code Be With You CE CLASS Questions with no Answers for Preview, >CALIFORNIA NAR: May The Code Be With You CE CLASS OVERVIEW, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. . In capitalism, the factors of production are most often controlled by business owners and investors. To that end, technologylike moneyis a facilitator of the factors of production. 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. A. , ided by total investment.. total investment is current assets (inventories, accounts receivables and cash) plus fixed assets. 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 c. reliction B. b. the description is imperfect if it does not end at the point of beginning He pays rent for occupancy, plus maintenance and operating expenses. How many acres are there is the described property? A. Entrepreneurship is the secret sauce that combines all the other factors of production into a product or service for the consumer market. The Uniform Commercial Code covers the sale of goods over $________. The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. (95, 93, 120, 94, 93, 129), A right or interest in property is a(n). You have permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. a0=mc2c=2cE1=212mc2. B. Erosion Today, capital and labor remain the two primary inputs for processes and profits. C. Discuss alternative properties that may be interest. Which of these factors would result in a violation of USPAP if the appraiser based his or her appraisal fee on it? What will they have to pay at closing for the points? B. For the early political economists, labor was the primary driver of economic value. A social entrepreneur is a person who pursues an innovative idea with the potential to solve a community problem. The modern definition of factors of production is primarily derived from a neoclassical view of economics. How many acres is that? The date Abby receives the good faith estimate. A. Ken is responsible for his own taxes, while the broker pays Sarahs. c. meridian 44- Jim owns a gift shop in a commercial building. d. 640 acres, 38. These include any resource needed for the creation of a good or service. While land is an essential component of most ventures, its importance can diminish or increase based on industry. The adjusted cost basis of the first home was $140,000. d. tier, 20. She is probably using all but which of the following tools? Accounts payable (decrease). 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. Double-Declining Balance (DDB) Depreciation Method Definition With Formula. How many months inventory does this represent? pheromone traps Which of the following statements is true? Then the prey population rebounds larger than before since predators are gone Under the current qualification criteria, an applicant for Appraiser Trainee must have completed ___ creditable hours of experience. 5 acres When appraising an income producing property, you have the following GRMs indicated from comparable sales (122, 159, 132, 126, 122, 173, 152, 126). 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. For example, the use of robots in manufacturing has the potential to improve productivity and output. All of the following statements about sections as defined in the US government survey system are true EXCEPT: a. a section is 640 acres. B. What test would determine the ground's ability to absorb water? C. A seller can sell his or own home and owe home and owe no commission if he or she signs an exclusive agency listing. D. Allows viewing access to strangers. Brenda refuses. Agricultural land includes all of the following EXCEPT which?

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