1. What do the following words have in common?

FARM
YEAR
FLIP
CRIB
WHEEL

2. What do the following words have in common?

HEM
ELOPE
ARCTIC
AGONIZE

Answers:

1. Dropping the first letter of each word leaves a body part:

ARM, EAR, LIP, RIB, HEEL 

2. Each word can be preceded by ANT to form a new word:

ANTHEM
ANTELOPE
ANTARCTIC
ANTAGONIZE