Question

The farmer will cultivate their land during the monsoon (pick out the verb and state its tense.)

Answer 1

The verb is the action in the sentence and the tense is when the action will take place.

Here, the action is centered around cultivate and so the verb in the sentence is will cultivate.
 
In the sentence, the action is mentioned as will cultivate. This means that the action is going to happen. So, the tense is future tense.

Answer 2

The answer of your question is ,verb "cultivate" and the state of tense is "future tense"
Verb is the word which actually illustrate the action or occurrence  which result in one of the main part of the of a sentence .
As in the above mentioned sentence the course of action is illustrate by the "cultivate " so the cultivate will be the verb because it describes action.
Also the the "will" with the verb represent that the action is going to happen in the future so the state of the tense will future tense