Cow/Calf Final Exam UPDATED ACTUAL
Exam Questions and CORRECT Answers
(T/F) Applicants for a Beginning Farmer Loan cannot have operated a farm or ranch for more
than 10 years. - CORRECT ANSWER -T
(T/F) The Livestock Indemnity Program provides benefits to producers that had livestock deaths
in excess of normal mortality due to extreme or abnormal damaging weather. - CORRECT
ANSWER -T
(T/F) A balance scorecard addresses both short- and long-term objectives. - CORRECT
ANSWER -T
(T/F) Bureau of Land Management leases are transferable with deeded acreage. - CORRECT
ANSWER -T
What is the maximum total loan amount for a Beginning Farmer Operating Loan? - CORRECT
ANSWER - $300,000
For each of the liabilities listed below, indicate whether they are current, intermediate, or long
term.
-Feeder wagon
-Outstanding fuel bill at the local coop
-Steer calves
-30-year loan for pasture purchase - CORRECT ANSWER - Intermediate, current, current,
long term
What are 3 key financial statements used to manage finances on a ranch? - CORRECT
ANSWER - Balance sheet, cash flow, income statement
,When valuing assets, what is the difference between cost value and market value? - CORRECT
ANSWER - Cost value: no inflation, depreciated
Market value: may have significant inflation built in, not affected by depreciation
What are 3 methods that can be used to acquire a ranch property? - CORRECT
ANSWER - Inherited, marry into, partner
What are the 6 recommended perspectives that should be included in a ranch balance scorecard?
- CORRECT ANSWER - Ranch lifestyle, financial, customer, ag commodities/production,
natural resources, learning and growth
What does UCOP stand for and why is it better than cost per cow? - CORRECT
ANSWER - Unit cost of production - combines cost of production and production level,
cost per cow ignores production
(T/F) Mature beef cows should be in a BCS of 5 at calving. - CORRECT ANSWER -T
(T/F) Creep feeding may reduce the forage consumed by calves. - CORRECT ANSWER -
T
(T/F) Developing heifers should be fed to reach 85% of their mature weight at the beginning of
the breeding season. - CORRECT ANSWER - F (65% or BCS 6)
(T/F) Bulls should be developed to a BCS 6 at the beginning of the breeding season. -
CORRECT ANSWER -T
(T/F) The feed efficiency of creep feeding with limit-fed soybean meal is better than with an
unrestricted corn-based feed. - CORRECT ANSWER -T
(T/F) If starch-based energy supplements are going to be used, they should be provided daily to
beef cattle grazing poor-quality forages. - CORRECT ANSWER -T
, (T/F) Protein supplements must be provided daily to beef cattle grazing poor-quality forages -
CORRECT ANSWER -F
(T/F) Beef cattle consuming poor-quality forages can be fed starch-based energy supplements at
up to 0.5% of their body weight without causing negative associative effects. - CORRECT
ANSWER - F (0.3%)
(T/F) Protein supplementation is most effective when forages are abundant, but they contain less
than 7% crude protein. - CORRECT ANSWER -T
Which of the following feeds is least likely to cause a negative associative effect?
a. Barley
b. Cracked corn
c. Wheat middlings
d. Whole shell corn - CORRECT ANSWER -c
List 2 benefits of supplementing Rumensin or Bovatec to growing (backgrounding) calves. -
CORRECT ANSWER - Improve feed efficiency, help control nutritional disorders such as
bloat and acidosis
From a nutritional perspective, what is a negative associative effect? - CORRECT
ANSWER - When there is an abundance of starch in the diet that can not be fully broken
down and used
List and describe 3 types of backgrounding. - CORRECT ANSWER - Preconditioning-
feeding for 30-45 days to prepare for feedlot
Accelerated- goal ADG of 2.5 or more
Growing- goal ADG of 1.5-2.5
Exam Questions and CORRECT Answers
(T/F) Applicants for a Beginning Farmer Loan cannot have operated a farm or ranch for more
than 10 years. - CORRECT ANSWER -T
(T/F) The Livestock Indemnity Program provides benefits to producers that had livestock deaths
in excess of normal mortality due to extreme or abnormal damaging weather. - CORRECT
ANSWER -T
(T/F) A balance scorecard addresses both short- and long-term objectives. - CORRECT
ANSWER -T
(T/F) Bureau of Land Management leases are transferable with deeded acreage. - CORRECT
ANSWER -T
What is the maximum total loan amount for a Beginning Farmer Operating Loan? - CORRECT
ANSWER - $300,000
For each of the liabilities listed below, indicate whether they are current, intermediate, or long
term.
-Feeder wagon
-Outstanding fuel bill at the local coop
-Steer calves
-30-year loan for pasture purchase - CORRECT ANSWER - Intermediate, current, current,
long term
What are 3 key financial statements used to manage finances on a ranch? - CORRECT
ANSWER - Balance sheet, cash flow, income statement
,When valuing assets, what is the difference between cost value and market value? - CORRECT
ANSWER - Cost value: no inflation, depreciated
Market value: may have significant inflation built in, not affected by depreciation
What are 3 methods that can be used to acquire a ranch property? - CORRECT
ANSWER - Inherited, marry into, partner
What are the 6 recommended perspectives that should be included in a ranch balance scorecard?
- CORRECT ANSWER - Ranch lifestyle, financial, customer, ag commodities/production,
natural resources, learning and growth
What does UCOP stand for and why is it better than cost per cow? - CORRECT
ANSWER - Unit cost of production - combines cost of production and production level,
cost per cow ignores production
(T/F) Mature beef cows should be in a BCS of 5 at calving. - CORRECT ANSWER -T
(T/F) Creep feeding may reduce the forage consumed by calves. - CORRECT ANSWER -
T
(T/F) Developing heifers should be fed to reach 85% of their mature weight at the beginning of
the breeding season. - CORRECT ANSWER - F (65% or BCS 6)
(T/F) Bulls should be developed to a BCS 6 at the beginning of the breeding season. -
CORRECT ANSWER -T
(T/F) The feed efficiency of creep feeding with limit-fed soybean meal is better than with an
unrestricted corn-based feed. - CORRECT ANSWER -T
(T/F) If starch-based energy supplements are going to be used, they should be provided daily to
beef cattle grazing poor-quality forages. - CORRECT ANSWER -T
, (T/F) Protein supplements must be provided daily to beef cattle grazing poor-quality forages -
CORRECT ANSWER -F
(T/F) Beef cattle consuming poor-quality forages can be fed starch-based energy supplements at
up to 0.5% of their body weight without causing negative associative effects. - CORRECT
ANSWER - F (0.3%)
(T/F) Protein supplementation is most effective when forages are abundant, but they contain less
than 7% crude protein. - CORRECT ANSWER -T
Which of the following feeds is least likely to cause a negative associative effect?
a. Barley
b. Cracked corn
c. Wheat middlings
d. Whole shell corn - CORRECT ANSWER -c
List 2 benefits of supplementing Rumensin or Bovatec to growing (backgrounding) calves. -
CORRECT ANSWER - Improve feed efficiency, help control nutritional disorders such as
bloat and acidosis
From a nutritional perspective, what is a negative associative effect? - CORRECT
ANSWER - When there is an abundance of starch in the diet that can not be fully broken
down and used
List and describe 3 types of backgrounding. - CORRECT ANSWER - Preconditioning-
feeding for 30-45 days to prepare for feedlot
Accelerated- goal ADG of 2.5 or more
Growing- goal ADG of 1.5-2.5
