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Real Estate 306 Exam 2 Q&A 100% Pass 2024/2025 Update
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Real Estate 306 Exam 2 Q&A 100% Pass 2024/2025 Update Police Power - right of government to enact laws to protect the general health, welfare, and safety of public Federal Reserve - sets a target range to keep healthy level of unemployment and inflation to avoid swings in the economy Federal ...

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  • August 21, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Real Estate 306
  • Real Estate 306

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Real Estate 306 Exam 2 Q&A 100% Pass

2024/2025 Update


Police Power - ✔✔right of government to enact laws to protect the general

health, welfare, and safety of public

Federal Reserve - ✔✔sets a target range to keep healthy level of

unemployment and inflation to avoid swings in the economy

Federal Funds Rate (FFR) - ✔✔- The average rate that banks pay when

borrowing from each other overnight.

- influences interest rates that banks charge including debt on real estate

property taxes - ✔✔Taxing authorities, tax assessments & bills, nature of

property taxes

Impact Fees - ✔✔- one time fee charged to new developer by municipality

to offset cost of increased city resources needed as result of additional

developments (in theory)

- can be used for pet projects, policy priorities, or knowingly/unknowingly to

restrict growth.

,eminent domain - ✔✔Power of a government to take private property for

public use with compensation (amendment 5)

Regional Plans - ✔✔- created by the state, county, or regional authority

- Include major transit and natural resources

- Do not usually impact individual buildings

Comprehensive Plans - ✔✔- Created by a municipality and enforced by

municipal ordinances

- Produced through public meetings, data analysis, and politics

- Include growth priority areas, future use plan, types of uses,

transportation goals

Neighborhood plans - ✔✔- Must comply or be incorporated into the

municipality's comp plan

- Produced with the help of professionals through neighborhood

involvement and public meetings

- Typically driven by neighborhood associations resistant to significant

change

zoning - ✔✔- specific rules for each. land parcel as described in the Zoning

Code or Municipal Ordinance

- reflects priorities identified in the Comp Plan

, - allowable uses and site requirements

building codes - ✔✔- regulate a building's physical structure

- address issues of health and safety

Floor Area Ratio (FAR) - ✔✔The density of nonresidential land use,

exclusive of structured parking, measured as the total nonresidential

building floor area divided by the total buildable land area available for

nonresidential structures.

entitlements - ✔✔A set of approvals needed for the right to develop a piece

of land.

Role of Government - ✔✔1. to pay for/provide all things we can't do

individually (military, roads, schools, utilities)

2. Manage economy (jobs & inflation, Fed Reserve)

3. Policies (balance & economic growth, revitalization efforts, affordability,

sustainability)

4. Property Taxes

5. Impact Fees

6. Eminent Domain

7. Inspections (building inspection + review services for all construction)

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