The home comes equipped with all furnishings. What kind of mortgage are they looking for? A Fannie Mae. A basis of $148,000 and no taxable gain, 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. Practice Questions with no Answers for Preview, >Ch7-9 R.E. The federal financial institutions regulatory agencies directly involved in fair lending include all of the following EXCEPT, The primary purpose of USPAP is to protect. A. Which winds steer hurricanes that form in the Atlantic Ocean toward Florida? 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. The recent trend of U.S. prime farmland has been a loss of 160,000 hectares per year. A. B. The purchase price, plus depreciation, B. a. each check contain 16 townships who four boundaries each measure 6 miles The voluntary giving of land for public use by an owner is: 104- Lorna and Hal have obtained a growing equity mortgage for their new home. $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. 3. a plat map is used in which type of legal description? d. benchmark, 30. Which is NOT a requirement of a valid deed? Each of these requires significant real estate and capital investments. strategies used to increase the supply of food for a country could include. c. it is a document used to record the subdivision of land, 11. What Are the Most Important Aspects of a Capitalist System? At first, there was no need for land. B. Ken must obtain his own training. What will the new owners pay in property taxes? Investopedia requires writers to use primary sources to support their work. Randy gives Tom an earnest money check for $1,000 and asks Tom to hold it until June 30, regardless of the date the seller accepts the offer. a. Special purpose: Property used by the public, such as cemeteries,. The greater a firm's or country's TFP, the greater its growth. 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. 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? A. The factors of production include land . 87- What information can you gather from the newspaper to help develop a Prospecting Plan? However, collective good is the predominating principle in socialism. (95, 93, 120, 94, 93, 129), A right or interest in property is a(n). How would Grants lease at this time be classified? 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. 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. d. appreciation, 40. 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. You have the permission to use, distribute, and reproduce these in any medium, provided the source and authors are credited. Who has the dominant tenement in this situation? How much will you have to deliver to closing to cover both the down payment and the loan points? The cost of land typically includes all, except a. Grading, filling, draining and cleaning cost b. 5 acres 70- Which of these items would be a credit to the buyer on the settlement statement? 57- Under federal income tax law, the basis for a personal residence is which of the following: What kind of loan do they have? 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. Who will pay the points? 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. 59- Which of the following is a sellers request that an agent cannot honor? This is further explained below. c. 25 acres Business Accounting 1. 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. D. Do not show the home between 10 a.m. and noon on Sundays. 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.. He just sold it for $13,000. . D. The date Abby makes the request to receive the booklet. (e) 6.61027m6.6\times10^{-27}\;\mathrm{m}6.61027m. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? Electronic Data Interchange for transmitting appraisal reports became popular in the (date). b. easement B. Pastures are those lands that are primarily used for the production of adapted, domesticated forage plants for livestock. 8. You can specify conditions of storing and accessing cookies in your browser. Accounts payable (decrease). c. accretion The right of ingress and egress over the land of another person is call a: 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. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. 41- Agricultural land includes all of the following EXCEPT which? The interest rate will increase gradually over time. You want to buy a house for $243,500. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. 22- Jane sold her personal home for $148,000. "Sustaining Chinas Economic Growth After the Global Financial Crisis," Pages 1-2. International Federation of Robotics. You apply for a mortgage. 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 lot measures 178 feet by 464 feet. A. The circular flow model of economics shows how money moves through an economy in a constant loop from producers to consumers and back again. What kind of closing technique is Jim using? Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). 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. When, is 0.100 M, the rate of disappearance of ethyl bromide is, 1.7107M/s1.7 \times 10 ^ { - 7 } \mathrm { M } / \mathrm { s } The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors. c. Lot 2 block M, Lincoln wood subdivision, missoula country, MT 59802 Although investment in agricultural R&D continues to be one of the most productive investments, with rates of return between 30 and 75 percent, it has been neglected in most low income countries. 86- Which of the following is not considered a benefit of investing in real estate? A facade easement is a type of_______________ easement. At the end of the term, the loan balance will be negative. It amalgamates past approaches to economic theory, such as the concept of labor as a factor of production from socialism, into a single definition. c. meridian c. reliction Find and create gamified quizzes, lessons, presentations, and flashcards for students, employees, and everyone else. The loan will be distributed to them gradually. B. Pam is not liable since it was summer and the heating problem was not obvious. D. Offer something valuable to the reader. Earthquake and volcanic action A longer mortgage loan term will: Result in lower monthly mortgage payments U.S. land area covers nearly 2.3 billion acres. What did it sell for per acre? 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. (a) 2.01020m2.0\times10^{-20}\;\mathrm{m}2.01020m Deforestation: Facts, causes & effects | Live Science 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? c. 66 feet What kind of a mortgage do they have? The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. What Is a Sunk Costand the Sunk Cost Fallacy? B. Pleases the sellers by inv=creasing activity. 56- Which is not a true statement about the Agency Disclosure? The Federal Reserve can influence the level of economic activity by. 33- Which statement is true about a loan that has a negative amortization? B. 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. 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. You have found comparable sales of rural land parcels that indicate the following sale prices per acre: ($930, $775, $1202, $995, $1612, $906). c. 200 acres D. Their lender can profit from the difference in interest rates. 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. Property rights are part of real property, not real estate, The ownership interest held by the lessor, which includes the right to receive the contract rent specified in the lease plus the reversionary right when the lease expires is the definition of. d. tier, 20. 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. 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. 6. c. 2 townships You want to insure it for 80% of value and the annual insurance premium will cost $5.75 per thousand. 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. b. the description is imperfect if it does not end at the point of beginning Demand analysis in a market indicates that 15 houses per month can be sold in the market. 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? 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. All of the following statements about sections as defined in the US government survey system are true EXCEPT: a. a section is 640 acres. Land as a factor of production can mean agriculture and farming to the use of natural resources. The purchase price, plus improvements The S 1/2 of the NW 1/4 of the SW 1/4 of section 14 is how many acres. 53- Greg sold an apartment building he owned for 20 years. She has an access right of way across the property of her neighbor Bob Smith for ingress, egress, and regress. Cultivation of crops on land by farmers increases its value and utility. Which of the following uses of pesticide can lead to ecological imbalance? The metes and bounds form of land description uses: 2. a township contains how many square miles? a. plottage A. This term typically refers to. b. D. Broker Gina puts $150 into her trust account. Today, capital and labor remain the two primary inputs for processes and profits. When appraising an income producing property, you have the following GRMs indicated from comparable sales (122, 159, 132, 126, 122, 173, 152, 126). What is most likely their main motivation for investing? Which form of legal land description uses measures of definite distances in indicated directions? For example, the use of robots in manufacturing has the potential to improve productivity and output. In some cases, all you need is a piece of land that's not currently being used. C. Broker Harry deposits $1000 into his brokerage business account. Claims that the world has only 100, 60, or even 30 years of harvests left often hit the headlines. The introduction of technology into a labor or capital process makes it more efficient. While land is an essential component of most ventures, its importance can diminish or increase based on industry. Which of the following is not one of those groups? b. 4. the point of beginning is associated with: 5. The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. 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. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. What should Tom do? D. The UCC is a body of law that standardizes a number of business practices. Practice Questions with no Answers for Preview, >Practice Exam for R.E. B. I will do two practice listing presentations per week with an experienced agent for the next two months. What kind of listing agreement does Alice have with Jack? The definition of factors of production in economic systems presumes that ownership lies with households, who lend or lease them to entrepreneurs and organizations. The permanent receding of water increases the land owner's property by: The retail coffee chain needs land (prime real estate in big cities for its coffee chain), capital (large machinery to produce and dispense coffee), and labor (employees at its retail outposts for service). Lot Building area in Fiumicino (Roma) | Gobid.es Which of the following is Kirk himself not likely to do during the application process? Chapter 4 PAS 2 Inventories docx - CALAMBA CAMPUS, BRGY - StuDocu disposal of livestock wastes real estatesavings accountmoney market fundcertificate of deposit. A. I will complete the GRI certification in the next four years. Studying population trends in the area. 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. Understanding Agricultural Tax Exemptions - SmartAsset Those who control the factors of production often enjoy the greatest wealth in a society. 100 acres This can result in a transformation of factors of production for entire industries. d. avulsion, 34. - bioaccumulation of pesticides in animal tissue can lead to extinction of species Another example of entrepreneurship is Starbucks Corporation (SBUX). Which of the following statements is true? f(z)=z3z2+2z+2f(z)=\frac{z-3}{z^{2}+2 z+2}f(z)=z2+2z+2z3. 19- Which of the following is not an advantage of hosting an open house? Increasingly, technology is responsible for the difference in efficiency among firms. For example, a technology company can easily begin operations with zero investment in land. 54- Jim and Jane are buying a home for $120,000. 4 rods 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. Capital also follows a similar model in that it can be owned or leased from another party. 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 . B. Pastureland. B. 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. When he coded the minimum viable product himself, Zuckerbergs labor was the only factor of production. Start in the room with the best features. A. The borrower makes payments of interest only over the term of the loan. While large companies make for excellent examples, a majority of companies within the United States are small businesses started by entrepreneurs. Which of these factors would result in a violation of USPAP if the appraiser based his or her appraisal fee on it? a. survey 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? Which is a true statement? b. accretion Depending on the specific circumstances, one or more factors of production might be more important than the others. Installation of central air conditioning, D. Addition of a tenant laundry facility. Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. C. Once filed, it remains until terminated. Under the current qualification criteria, an applicant for Appraiser Trainee must have completed ___ creditable hours of experience. It can also refer to market, industry, and business fragmentation. You will also have to pay 2.75 points on the loan. 3400 acres For people and planet, its one of our most important problems to work on. 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