This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. a. erosion (e) 6.61027m6.6\times10^{-27}\;\mathrm{m}6.61027m. 100 ft All the software and code that we write is open source and made available via GitHub under the permissive MIT license. C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. d. lien, 35. The four components of the Appraiser Qualification Criteria are: qualifying education, examination, experience, continuing education. C. It creates an agency relationship. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. ", Association for Advancing Automation. Proceeds from issuance of stock. a. an identification of the grantor and grantee Land refers to physical land, such as the acres used for a farm or the city block on which a building is constructed. A. Ken is responsible for his own taxes, while the broker pays Sarahs. d. 2.5 square miles, 15. B. Jim Sharp is purchasing his fathers home. b. Building b. A business engaged in agriculture or farming as defined in MGL. 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. 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. disease-resistant crop varieties Browse over 1 million classes created by top students, professors, publishers, and experts. For the early political economists, labor was the primary driver of economic value. Which law extended discrimination to include handicap and familial status? Practice Questions with no Answers for Preview, >Ch10-12 R.E. 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 The borrower makes payments of interest only over the term of the loan. Present the offer and tell the seller that the check needs to be held until June 30. 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. 84- Four years ago, Sam purchased a vacant lot for $10,000. 88- Sally and Dan must pay 2 points on their new $65,000 loan. c. accretion A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. Land includes any natural resource used to produce goods and services; anything that comes from the land. Use these expressions to check the numerical values of the constants a0a_0a0 and E1E_1E1. D. Broker Gina puts $150 into her trust account. If you apply for the loan, how much can your maximum monthly payment be? C. Brenda could be liable for a breach of the listing terms. 44- Jim owns a gift shop in a commercial building. b. The introduction of technology into a labor or capital process makes it more efficient. At first, there was no need for land. 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. 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. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. c. an encroaching elm tree 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? 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 European state model includes all of the following except: A. a clearly and legally defined territory B. a population governed from a capital city C. a representative government D. a high level of urbanization 2. 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). \text{T} & \text{48} & \text{46} & \text{51} & \text{57} & \text{62} & \text{68} & \text{71}\\ B. As part of the overall requirement for continuing education, certified and licensed appraisers must complete the 7-Hour National USPAP Update Course or its equivalent ________ calendar year(s). c. to protect against liens Please remove your shoes before entering the home. It is important to distinguish personal and private capital in factors of production. You can say that the land is preserved wilderness, or put it to some kind of agricultural use to save on property taxes. strategies used to increase the supply of food for a country could include. Prices of properties currently on the market, C. Properties that were listed but did not sell. a. plottage You want to buy a house for $243,500. 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? Practice Questions with no Answers for Preview, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. C. Refuse to accept the offer and check. A. a. "About Us.". The ___ has oversight authority over state appraisal boards: Which is not true concerning the highest and best use of land as though vacant? They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 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. B. B. What does that mean? A lot measures 178 feet by 464 feet. Licenses: All visualizations, data, and articles produced by Our World in Data are open access under the Creative Commons BY license. 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. Deforestation is the permanent removal of trees to make room for something besides forest. The Uniform Commercial Code covers the sale of goods over $________. He pays rent for occupancy, plus maintenance and operating expenses. has an increased likelihood of obesity, diabetes, and heart disease. b. a parcel of land is 1/8 mile by 1/8 mile is 40 acres. While land is an essential component of most ventures, its importance can diminish or increase based on industry. Crop yields might seem far from being one of the world's largest problems. 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? It can be considered an employment contract. a. Land resources are the raw materials in the production process. 87- What information can you gather from the newspaper to help develop a Prospecting Plan? Ask the buyers to sign a real estate transfer disclosure statement. 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. What kind of a mortgage do they have? How much is your property worth today? Each of their payments is for the same amount. A. Buyer Jim asks if he can visit the property for a second time. Which of the following statements is true? 96- Which statement is not true about a listing contract? What will the new owners pay in property taxes? Find and create gamified quizzes, lessons, presentations, and flashcards for students, employees, and everyone else. C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. Earthquake and volcanic action A longer mortgage loan term will: Result in lower monthly mortgage payments While not directly listed as a factor, technology plays a vital role in influencing production. Challenges facing U.S. agriculture include all of the following except decline in prime farmland decline in numbers of domesticated plant varieties addressing habitat fragmentation improving crop and livestock yields Practice Questions with no Answers for Preview, >Practice Exam for R.E. B. But that is a theoretical construct and rarely the case in practice. 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? 9. a. erosion At the end of the term, the loan balance will be negative. The median price of homes sold in your county nine months ago was $217,400. The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. He paid $100,000 for it, and made $300,000 worth of improvements. B. C. Payments will not be enough to retire the loan. 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. Our World In Data is a project of the Global Change Data Lab, a registered charity in England and Wales (Charity Number 1186433). However, commentators sometimes refer to labor and capital as the two primary factors of production. b. reliction the appraisers value opinionthe borrowers estimate of valuethe square footage of the homenone of these. D. Understanding characteristics of the rental market. 77- Which of the following Internet pages might not be of particular interest to buyers? 6. A. Brenda must follow all of Jims instructions. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. and hydroxide ion in ethyl alcohol at 330K, C2H5Br(alc)+OH(alc)C2H5OH(I)+Br(alc)\mathrm { C } _ { 2 } \mathrm { H } _ { 5 } \mathrm { Br } ( a l c ) + \mathrm { OH } ^ { - } ( a l c ) \longrightarrow \mathrm { C } _ { 2 } \mathrm { H } _ { 5 } \mathrm { OH } ( I ) + \mathrm { Br } ^ { - } ( a l c ) The federal financial institutions regulatory agencies directly involved in fair lending include all of the following EXCEPT. the estimated cost to -replace a property, a guarantee of the true worth of a property, the President of The Appraisal Foundation. a. Which of the following types of agriculture is correctly matched with the agricultural practice? Which of the following methods of legal land description would most likely be used to describe agricultural lands? Within the software industry, labor refers to the work done by project managers and developers in building the final product. 103- Kirk and Sandy obtained a wraparound mortgage. A surveyor's chain is: 56- Which is not a true statement about the Agency Disclosure? The second mortgage has now become the primary loan. d. 2.5, 28. Both types of leases involve different forms of a definite rental rate. The recent trend of U.S. prime farmland has been a loss of 160,000 hectares per year. It is determined by who pays the compensation. You want to insure it for 80% of value. (b) 3.31011m3.3\times10^{-11}\;\mathrm{m}3.31011m 4. b. a description of the property using metes and bounds The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors. What will they have to pay at closing for the points? 63- Jennys home appraised for $550,000. C. Use an attractive first-class stamp. 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. a. 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. In capitalism, the factors of production are most often controlled by business owners and investors. Which entity is responsible for monitoring state appraiser licensing and certification agencies? d. 640 acres, 38. C. Theyre probably paying a higher interest rate on the second mortgage. 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. 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. t46810121416T48465157626871\begin{matrix} When he coded the minimum viable product himself, Zuckerbergs labor was the only factor of production. 19- Which of the following is not an advantage of hosting an open house? 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? 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. Which method of land description would describe an irregular piece of property? The health of soil is a primary concern to farmers and the global community whose livelihoods depend on well managed agriculture that starts with the dirt beneath our feet. 76- Mark believes he has been discriminated against during his home search. 67- Hannah is a real estate assistant. tT4486468511057126214681671. Information on current loan programs. When citing this topic page, please also cite the underlying data sources. 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. The Buckle, Incorporated, included the following in its statement of cash flows presented using the indirect method. d. depth, 25. 68- Greg and Joyce have an adjustable rate mortgage on their home. 57- Under federal income tax law, the basis for a personal residence is which of the following: A. Which of these statements is true about the wraparound mortgage? The fees that Eric charges Paul for making the loan could be any but which of the following amounts? a. a grant How much will your insurance cost per month? 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. 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. Agricultural land is typically land devoted to agriculture, [1] the systematic and controlled use of other forms of life particularly the rearing of livestock and production of crops to produce food for humans. b. conformity 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 the US government survey system are true except: All of our charts can be embedded in any site. 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? Organisms at higher levels on food webs tend to have greater concentrations of bioaccumulated pesticide stored in their bodies through a process known as. 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. How many months inventory does this represent? Meanwhile, a company that makes its money from building and renting out office space might see land and capital as its most valuable factors. 65- Which of the following items is usually not prorated at closing?
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