Final answer:
A Direct Farm Ownership loan has a maximum term of 40 years, which is option b. This differs from common residential mortgage terms due to the specifics of farm business investments.
Step-by-step explanation:
A Direct Farm Ownership loan has a maximum term of 40 years. The correct option is b. 40. While typical residential mortgages may have terms of 15 or 30 years, a farm ownership loan is designed to meet the specific needs of a farm business, which often requires longer terms due to the nature of the investment and the time it takes to achieve profitability in farming operations. It is essential when discussing ownership loans or any loan term to understand the specific terms and requirements that apply to that loan type.