Real 5070 Exam #1 with correct answers

Real 5070 Exam #1 Land Development - correct answer Adding improvements to the raw land; taking the land up to the point where it is ready to be built upon; examples include building streets, utilities, securing zoning changes, etc. Building - correct answer Adding improvements on the land to improved land; yields a finished property that is ready to meet someone's space needs; examples include renovations of retail centers and redevelopments of hotels Improvements on the Land - correct answer Improvements to the Land - correct answer Developer - correct answer Describes a person who both develops land and constructs improvements on developed parcels Builder - correct answer When is is strictly defined, developers only develop land and builders build buildings Infrastructure - correct answer The publicly provided products such as highways, utilities, and services such as police and firefighters Development Team - correct answer A development team falls into two major parts: those who provide the human capital and knowledge of how to build the buildings, and the others who provide the financial capital Four Kinds of Suppliers for Financial Capital - correct answer Joint Venture, Equity Partner, Construction Lender, Permanent Lender