ASFMRA AFM Practice Questions - Accredited Farm Manager (ASFMRA) Exam - ASFMRA AFM Practice Questions

Question 1

Under a typical cash lease, who bears the production risk from low yields and price declines?

The landlord The tenant Shared 50-50 The lender

Correct Answer:

The tenant

Question 2

A flexible cash lease typically adjusts rent based on:

Actual yields, prices, or gross crop revenue Landlord's mortgage payment Local property tax rates only Tenant's input costs only

Correct Answer:

Actual yields, prices, or gross crop revenue

Question 3

Which Schedule F line item is generally NOT a deductible expense for a cash-method farmer?

Seed and fertilizer purchased for the current crop Pre-paid expenses exceeding 50% of other expenses (excess portion) Hired labor and wages Crop insurance premiums

Correct Answer:

Pre-paid expenses exceeding 50% of other expenses (excess portion)

Question 4

Under USDA's Agriculture Risk Coverage (ARC) program, payments are triggered when:

Actual county or individual revenue falls below the revenue guarantee Actual price falls below the reference price Acres are taken out of production Crop insurance is purchased

Correct Answer:

Actual county or individual revenue falls below the revenue guarantee

Question 5

Price Loss Coverage (PLC) payments are calculated based on:

The difference between the effective reference price and the marketing year average price, times payment yield and 85% of base acres Cash rent paid Crop insurance indemnities Actual yields and prices on planted acres

Correct Answer:

The difference between the effective reference price and the marketing year average price, times payment yield and 85% of base acres

Question 1

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About this Exam

Prepare with the ASFMRA AFM Practice Questions - Accredited Farm Manager (ASFMRA) Exam practice quiz. This question bank includes 100 questions covering farm, typically, crop, cash, and lease. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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ASFMRA AFM Practice Questions - Accredited Farm Manager (ASFMRA) Exam

This practice set contains 100 questions from the matching question bank and focuses on farm, typically, crop, cash, and lease. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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ASFMRA AFM Practice Questions - Accredited Farm Manager (ASFMRA) Exam

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