FFA BANKING EXAM WITH ALL CORRECT & 100%
VERIFIED ANSWERS|UPDATED TO PASS
Federal Lank Bank loans are secured by a first lien on crops ✔Correct answer-False
All livestock are considered intermediate assets ✔Correct answer-False
A Balance Sheet is a listing of your income and expenses for the year ✔Correct answer-False
A current assets normally can be converted to cash within a year ✔Correct answer-True
In Ag. Finance, competition tends to lower the cost you pay for borrowing capital ✔Correct
answer-True
Operating loans are usually made with maturities coinciding with the purpose of the loan and the
normal marketing season for the enterprise being financed ✔Correct answer-True
Cash flow is not important to farmers because they only have harvest one crop a year ✔Correct
answer-False
Endorsing your check means signing your name on the back of the check ✔Correct answer-True
Current economic conditions seldom affect farmers ✔Correct answer-False
A Farm Credit association's board is appointed by the government ✔Correct answer-False
Banks, Farm Credit, and Insurance companies all make farm loans ✔Correct answer-True
Mortgage loans, equipment loans and crop loans are all short-term loans ✔Correct answer-False
Managers of farm properties have no influence on their profitability because they are only price
takers ✔Correct answer-False
Accrued interest is the interest that has been earned but is not yet paid or due ✔Correct answer-
True
A cash flow budget shows whether or not a farm is profitable ✔Correct answer-True
Farm Credit Leasing Services is a leasing entity that acquires buildings and office equipment for use
by Farm Credit Associations. Buildings and offices equipment are leased by Farm Credit Associations
to preserve capital ✔Correct answer-False
FLCA'S are the only Farm Credit Associations to provide long-term loans ✔Correct answer-False
By 1968 all federal capital was repaid and the Farm Credit System was owned completely by its
borrowers ✔Correct answer-True
Fresno Madera Farm Credit offers 4-H and FFA student project loans for animals and projects to be
shown at the fair ✔Correct answer-True
VERIFIED ANSWERS|UPDATED TO PASS
Federal Lank Bank loans are secured by a first lien on crops ✔Correct answer-False
All livestock are considered intermediate assets ✔Correct answer-False
A Balance Sheet is a listing of your income and expenses for the year ✔Correct answer-False
A current assets normally can be converted to cash within a year ✔Correct answer-True
In Ag. Finance, competition tends to lower the cost you pay for borrowing capital ✔Correct
answer-True
Operating loans are usually made with maturities coinciding with the purpose of the loan and the
normal marketing season for the enterprise being financed ✔Correct answer-True
Cash flow is not important to farmers because they only have harvest one crop a year ✔Correct
answer-False
Endorsing your check means signing your name on the back of the check ✔Correct answer-True
Current economic conditions seldom affect farmers ✔Correct answer-False
A Farm Credit association's board is appointed by the government ✔Correct answer-False
Banks, Farm Credit, and Insurance companies all make farm loans ✔Correct answer-True
Mortgage loans, equipment loans and crop loans are all short-term loans ✔Correct answer-False
Managers of farm properties have no influence on their profitability because they are only price
takers ✔Correct answer-False
Accrued interest is the interest that has been earned but is not yet paid or due ✔Correct answer-
True
A cash flow budget shows whether or not a farm is profitable ✔Correct answer-True
Farm Credit Leasing Services is a leasing entity that acquires buildings and office equipment for use
by Farm Credit Associations. Buildings and offices equipment are leased by Farm Credit Associations
to preserve capital ✔Correct answer-False
FLCA'S are the only Farm Credit Associations to provide long-term loans ✔Correct answer-False
By 1968 all federal capital was repaid and the Farm Credit System was owned completely by its
borrowers ✔Correct answer-True
Fresno Madera Farm Credit offers 4-H and FFA student project loans for animals and projects to be
shown at the fair ✔Correct answer-True