ARE 433 TEST LATEST UPDATE
Which of the following is not an index plan of insurance? - ANSWER APH
within a county, the lower is a farmer's average yield, the lower will be
their premium rate. - ANSWER False
Which of the following is not a type of unit structure for which individual
farm units can be insured? - ANSWER Field-Section
Most of the liability in the federal crop insurance program is for which
specific plan? - ANSWER RP-Revenue Protection
Which program in the 2014 legislation largely replaced counter-cyclical
payments? - ANSWER PLC
Under the 2014 Farm Bill, a farmer can enroll in ARC or PLC/SCO, but cannot
choose both. True or false - ANSWER True
In order to be eligible for subsidized crop insurance, a farmer must be in
compliance with conservation requirements. T or F? - ANSWER True
The 2014 Farm Bill significantly expanded acreage in the CRP program.
t or f - ANSWER false
The 2014 Farm Bill tied subsidies more closely to recent and current crop
production and market conditions.
t or f - ANSWER true
The 2014 Farm Bill eliminated Country of Origin Labeling (COOL).
t or f - ANSWER false
Which program in the 2014 Farm Bill largely replaced ACRE? - ANSWER ARC
Conservation programs on working lands account for about what proportion
of total spending authorized under the 2014 Farm Bill? - ANSWER 50%
Wildlife viewing and recreational hunting account for almost 60% of the
estimated environmental benefits of the CRP. t or f - ANSWER true
, Experience has demonstrated that few farmers will buy insurance of their
crop yields against multiple perils at the expected full cost to the insurer. t or f -
ANSWER true
Actuarial fairness means that - ANSWER a. loss-ratios should be one on average
b. premium collected equals average indemnities
c. premium rates equal expected losses as a percentage of total
liability
*d. all of the above
Catastrophic Risk Protection (CAT) provides yield protection at what level
of coverage? - ANSWER 50%
Current WTO limits on agricultural subsidies do not constrain crop
insurance subsidies.
t or f - ANSWER True
The "mother of all crop fraud investigations" that was mentioned in the
NPR radio show involved crop insurance fraud for - ANSWER tomatoes
Food insecurity tends to be highest in households with - ANSWER single women with
children
Participation in the SNAP program tends to be the highest in - ANSWER Southern states
Outside of the SNAP program, the WIC program tends to account for the
second largest proportion of nutritional program spending under the Farm Bill
nutrition title. t or f - ANSWER False
If a country's autarky price is below the world price, they will be an
exporter. t or f - ANSWER True
In international trade terms, a "small" importing country faces an excess
supply function that has a zero elasticity. t or f - ANSWER true
The predecessor to the WTO was called the - ANSWER GATT
In the federal crop insurance program, the price risk associated with
revenue insurance is measured using - ANSWER options
Which of the following is not an index plan of insurance? - ANSWER APH
within a county, the lower is a farmer's average yield, the lower will be
their premium rate. - ANSWER False
Which of the following is not a type of unit structure for which individual
farm units can be insured? - ANSWER Field-Section
Most of the liability in the federal crop insurance program is for which
specific plan? - ANSWER RP-Revenue Protection
Which program in the 2014 legislation largely replaced counter-cyclical
payments? - ANSWER PLC
Under the 2014 Farm Bill, a farmer can enroll in ARC or PLC/SCO, but cannot
choose both. True or false - ANSWER True
In order to be eligible for subsidized crop insurance, a farmer must be in
compliance with conservation requirements. T or F? - ANSWER True
The 2014 Farm Bill significantly expanded acreage in the CRP program.
t or f - ANSWER false
The 2014 Farm Bill tied subsidies more closely to recent and current crop
production and market conditions.
t or f - ANSWER true
The 2014 Farm Bill eliminated Country of Origin Labeling (COOL).
t or f - ANSWER false
Which program in the 2014 Farm Bill largely replaced ACRE? - ANSWER ARC
Conservation programs on working lands account for about what proportion
of total spending authorized under the 2014 Farm Bill? - ANSWER 50%
Wildlife viewing and recreational hunting account for almost 60% of the
estimated environmental benefits of the CRP. t or f - ANSWER true
, Experience has demonstrated that few farmers will buy insurance of their
crop yields against multiple perils at the expected full cost to the insurer. t or f -
ANSWER true
Actuarial fairness means that - ANSWER a. loss-ratios should be one on average
b. premium collected equals average indemnities
c. premium rates equal expected losses as a percentage of total
liability
*d. all of the above
Catastrophic Risk Protection (CAT) provides yield protection at what level
of coverage? - ANSWER 50%
Current WTO limits on agricultural subsidies do not constrain crop
insurance subsidies.
t or f - ANSWER True
The "mother of all crop fraud investigations" that was mentioned in the
NPR radio show involved crop insurance fraud for - ANSWER tomatoes
Food insecurity tends to be highest in households with - ANSWER single women with
children
Participation in the SNAP program tends to be the highest in - ANSWER Southern states
Outside of the SNAP program, the WIC program tends to account for the
second largest proportion of nutritional program spending under the Farm Bill
nutrition title. t or f - ANSWER False
If a country's autarky price is below the world price, they will be an
exporter. t or f - ANSWER True
In international trade terms, a "small" importing country faces an excess
supply function that has a zero elasticity. t or f - ANSWER true
The predecessor to the WTO was called the - ANSWER GATT
In the federal crop insurance program, the price risk associated with
revenue insurance is measured using - ANSWER options
