c. reliction How would Grants lease at this time be classified? 18- In a transaction that involves the purchase of a business, what document functions in the same way as the deed in a personal real estate transaction? 76- Mark believes he has been discriminated against during his home search. a. She is probably using all but which of the following tools? d. appreciation, 40. A. In zoning, the distance from the street to the front of a house is called: B. Pastureland. How Do Factor Endowments Impact a Country's Comparative Advantage? ROI is equal to turnover multiplied by earning as a percent of sales. 4. the point of beginning is associated with: 5. Twenty years ago, most appraisal reports that were sent electronically were sent using _____ technology; today, most appraisals are sent electronically using a _______ format. c. eminent domain He sold the building for $1,000,000 and paid $60,000 in commission to the broker. This analysis can only be applied if there are no existing improvements. 55- Greg is approved for a Cal-Vet loan. -pesticides show mobility, moving other than where they were applied inadvertently killing non-pest organisms. Jim and Jane financed the remaining $25,000 through the seller. a. erosion $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. a. Depending on its type, an improvement may increase the value of real estate greatly. 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. limited use of pesticides, Which of the following is not a problem associated with industrial agriculture? 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. How long does he have to file a complaint with the Department of Housing and Urban Development? Import duties and taxes c. Freight, handling and other costs directly attributable to the acquisition of goods d. Trade discounts, rebates and other similar items. 4024 pine street, Missoula, missoula country mt 59801 d. benchmark, 30. What kind of mortgage are they looking for? C. Discuss alternative properties that may be interest. What is the median of these numbers: 19, 11, 64, 36, 81, 22, 35, 95? D. An exclusive listing must always be at least 30 days long. What is Gregs capital gain on the apartment? Within the software industry, labor refers to the work done by project managers and developers in building the final product. This site is using cookies under cookie policy . D. Seeking buyers for others agents listings. Image by Sabrina Jiang Investopedia2020, Absorption Costing Explained, With Pros and Cons and Example, What Is an Amortization Schedule? He sells this right to nearby Property Owner B who wishes to develop his property into additional lots. Along the same lines, desks and chairs used in an office are also capital. b. the description is imperfect if it does not end at the point of beginning 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. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. He paid $100,000 for it, and made $300,000 worth of improvements. The cost of purchase of inventory does not include a. In the 1970s, who developed uniform rules for mortgage underwriting? What would we call Hannah? 41- Agricultural land includes all of the following EXCEPT which? Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). Absolute advantage allows an entity to produce a greater quantity of the same good or service with the same constraints than another entity. Fannie Mae FDIC OCC FRB. Let T(t) be the temperature (inF)\left(\text { in }^{\circ} \mathrm{F}\right)(inF) in Seattle t hours after midnight on May 7, 2012. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. Finally, capital refers to the cash, equipment, and other assets needed to start or grow a business. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. (a) 2.01020m2.0\times10^{-20}\;\mathrm{m}2.01020m To that end, technologylike moneyis a facilitator of the factors of production. b. dedication Buyer Jim asks if he can visit the property for a second time. c. us government survey, PO box, and metes and bounds 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. a. townships This term typically refers to. B. The cash rent lease and the crop-share lease are the two most frequently used land leases in agriculture. C. The date the lender receives her application. By increasing crop yields we can reduce the amount of land we use for agriculture. How many acres are there is the described property? A facade easement is a type of_______________ easement. D. All adjustable rate mortgages have negative amortization. 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? c. a determination of the area of the property How much is your property worth today? Purchase of investments. 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? b. the columns of townships running north and south within a check are called ranges Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. C. The fair market value at the time of sale Improvements in crop yields have been essential to feed a growing population, while reducing the environmental impact of food production at the same time. 2240 acres The ___ has oversight authority over state appraisal boards: Which is not true concerning the highest and best use of land as though vacant? You want to buy a house for $243,500. A personal vehicle used to transport family is not considered a capital good, but a commercial vehicle used expressly for official purposes is. 45- Kirk wants to get an FHA loan. 8. The right held by the lessee to use and occupy real estate for a stated term and under the conditions specified in the lease is the definition of. Entrepreneurship is the secret sauce that combines all the other factors of production into a product or service for the consumer market. 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. Who has the dominant tenement in this situation? They will owe a balloon payment at the end of the loan term. 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. A survey would reveal all of the following about a property EXCEPT: 10. A. Jason Fernando is a professional investor and writer who enjoys tackling and communicating complex business and financial problems. 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: She sold the property and several months later the buyer sued Pam for not disclosing the problem. 86- Which of the following is not considered a benefit of investing in real estate? depletion of fossil fuels A type of subsistence agriculture in which short periods of cultivation are followed by longer periods of fallow land is called, The recent trend of U.S. prime farmland has been, Challenges facing U.S. agriculture include all of the following except, increase in number of domesticated animal varieties, One of the problems associated with the "green revolution" is that, it makes developing countries dependent on high-energy consuming imported technologies. a. the water rights reserved by a previous owner How much will you have to deliver to closing to cover both the down payment and the loan points? USPAP includes performance standards for the appraisal of, real property, personal property, and business/intangible property, What is the mode of the following set of gross rent multipliers? b. A net listing is illegal in all states. 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.. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. . What kind of agreement is this? a. What test would determine the ground's ability to absorb water? C. Payments will not be enough to retire the loan. Why? Land as a factor of production can mean agriculture and farming to the use of natural resources. c. an encroaching elm tree You can get a loan for 90% of value. Why might a lender require a survey before making a loan? A. Orchards. You want to insure it for 80% of value. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? Production, such as manufacturing, can be tracked by certain indexes, including the ISM manufacturing index. An open listing is an exclusive contract. Another example of entrepreneurship is Starbucks Corporation (SBUX). 81- Jake has decided to specialize in working with clients who purchase schools. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. Which is the fullest and most complete type of estate? The main cause of undernutrition and food insecurity globally is lack of available food. C. Insurance agents dealing with customers. B. Brenda has violated the fiduciary duty of obedience to Jim. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. Earthquake and volcanic action A longer mortgage loan term will: Result in lower monthly mortgage payments Special purpose: Property used by the public, such as cemeteries,. c. 400 ft 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? A land owner is contemplating building a septic tank sewer system on his lot. Pastures are those lands that are primarily used for the production of adapted, domesticated forage plants for livestock. For modern mainstream (neoclassical) economists, capital is the primary driver of value. Meanwhile, a company that makes its money from building and renting out office space might see land and capital as its most valuable factors. The website with the largest amount of demographics information is, What is the median of the following set of gross rent multipliers? Lots and blocks are appox. B. The definition of factors of production in economic systems presumes that ownership lies with households, who lend or lease them to entrepreneurs and organizations. 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? Practice Questions with no Answers for Preview, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. e statement and outline the possible factors that could determine the contextual Variations in the manifestation of entrepreneurship. 1.7107M/s. For a group of early French economists called the physiocrats, who predated the classical political economists, land was responsible for generating economic value. (d) 1.81019m1.8\times10^{-19}\;\mathrm{m}1.81019m C. Exclusive-authorization-and-right-to-sell. A. a. recorded plat, us government survey, and street address. Land includes any natural resource used to produce goods and services; anything that comes from the land. b. Prove that Cf(z)dz=0\oint_{C} f(z) d z=0Cf(z)dz=0, where f is the given function and C is the unit circle z=1|z|=1z=1. C. Jim and Amanda whisper and frown when they see the basement. 73- Which of these is not a buying signal? Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Example Final Exam for R.E. Which statement is TRUE regarding this situation? A developer of a shopping center buys three adjoining lots for $124,000, $75,000 and $111,000 creating a single parcel worth $420,000. How much did Sam gain or lose on the sale? When, is 0.100 M, the rate of disappearance of ethyl bromide is, 1.7107M/s1.7 \times 10 ^ { - 7 } \mathrm { M } / \mathrm { s } 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. the appraisers value opinionthe borrowers estimate of valuethe square footage of the homenone of these. 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). The appraiser must avoid mentioning this structure in the report. B. Pleases the sellers by inv=creasing activity. A. high income countries He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? d. section 12 is directly north of section 1 in a township, d. section 12 is directly north of section 1 in a township, 19. There are currently 180 houses for sale in this market. The purchase price, plus depreciation, B. Which method of land description would describe an irregular piece of property? During this interim period, grant makes monthly rent payments and the owner accepts them. Give credit to all potential borrowers. 29- Which of the following is not a good direct mail technique? yields at a global level following the pattern established over the past five decades will not be sufficient to meet food needs. Her asking price was $560,000 and the property sold for $575,000. a. redemption Generally, Light, warm, dry, sandy soil that is acidic and deficient in nutrients is what you may expect to find in a typical climate. 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. What is most likely their main motivation for investing? The proportion of the land base in agricultural uses has declined from 63 percent in 1949 to 51 percent in 2007. 20.6 D. The date Abby makes the request to receive the booklet. 1. The introduction of technology into a labor or capital process makes it more efficient. 95- Who is liable for the withholding on the sale of a property owned by a foreigner? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 6. 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? 41- Agricultural land includes all of the following EXCEPT which? 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. Whoever brings the buyer will get the commission. Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. The right to construct and maintain tunnels, subways, subcellars, pipelines, sewers, etc. is the definition of _________ rights. tomatoes contain a soybean's gene for disease resistance. Which of the following best describes a plat? has an increased likelihood of obesity, diabetes, and heart disease. A. It must be in writing to be enforceable. A. All of the following could be participants in a real property market except: In analyzing real estate purchase contract, you should be able to find all of the following items except. 21- Which form of advertising is considered the most cost-effective method for selling a home? d. lien, 35. Her broker has asked her to be available for tasks in the field rather than in the office. As a result, the country became the biggest market for robots. sewers; crops; buildings; roads What should Tom do? This is an example of. What kind of listing agreement does Alice have with Jack? 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. The land that is least conducive to agriculture is sandy soil. C. I will open my own office within nine years. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? C) street lights, sewers, and drainage systems cost. A. I will complete the GRI certification in the next four years. Which statement is true ? d. depth, 25. 56- Which is not a true statement about the Agency Disclosure? d. all of the above, Arizona Real Estate "Escrow and Closing B-7", Real Estate Test National Portion B1-B9 Exam, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer. , ided by total investment.. total investment is current assets (inventories, accounts receivables and cash) plus fixed assets. California: Real Estate Practice Sample of Final Course Exam, Answers will be revealed with the correct subscription. C. Parks. 2. a. a grant C. The loan term will extend gradually over time. We also reference original research from other reputable publishers where appropriate. b. to protect against encroachments B. A. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. c. Lot 2 block M, Lincoln wood subdivision, missoula country, MT 59802 Farm and agricultural land can also include: land that is compatible with agricultural purposes and used incidentally for those purposes, not to exceed 20% of the classified land; land on which appurtenances necessary for the production, preparation, or sale of agricultural products if it is in conjunction with the land producing the products; a 75- All but which of the following is NOT an AIDA feature? Gradual declines have occurred in cropland and pasture . 100 ft Labors transaction with firms is based on wages. 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. Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. As such, factors of production, such as land and capital, are owned and regulated by the community as a whole under socialism. A. Ken is responsible for his own taxes, while the broker pays Sarahs. 7- In the initial meetings with the prospects, the agent should do all of the following except which? c. 25 acres 103- Kirk and Sandy obtained a wraparound mortgage. Business Accounting 1. Accounts payable (decrease). C. Have keys made for company listings. B. Jim Sharp is purchasing his fathers home. b. littoral B. What property type will he be dealing with? 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? 57- Under federal income tax law, the basis for a personal residence is which of the following: A lot measures 316.4 X 428.90. Is equal for each year over the life of the property, C. Is high during the first five years of the ownership period, then reduces gradually over the life of the property, D. Varies according to the expired life of the improvements made to the property. \end{matrix} 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home.