Real Estate 306 Exam 2; Questions and Answers 100% Correct
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Course
Real Estate 306
Institution
Real Estate 306
Real Estate 306 Exam 2; Questions and
Answers 100% Correct
Police Power Correct answer-right of government to enact laws to protect the general
health, welfare, and safety of public
Federal Reserve Correct answer-sets a target range to keep healthy level of
unemployment and inflation to avo...
Real Estate 306 Exam 2; Questions and
Answers 100% Correct
Police Power Correct answer-right of government to enact laws to protect the general
health, welfare, and safety of public
Federal Reserve Correct answer-sets a target range to keep healthy level of
unemployment and inflation to avoid swings in the economy
Federal Funds Rate (FFR) Correct answer-- The average rate that banks pay when
borrowing from each other overnight.
- influences interest rates that banks charge including debt on real estate
Impact Fees Correct answer-- 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 Correct answer-Power of a government to take private property for
public use with compensation (amendment 5)
Regional Plans Correct answer-- created by the state, county, or regional authority
- Include major transit and natural resources
, Real Estate 306 Exam 2; Questions and
Answers 100% Correct
- Do not usually impact individual buildings
Comprehensive Plans Correct answer-- 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 Correct answer-- 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 Correct answer-- 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 Correct answer-- regulate a building's physical structure
- address issues of health and safety
, Real Estate 306 Exam 2; Questions and
Answers 100% Correct
Floor Area Ratio (FAR) Correct answer-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 Correct answer-A set of approvals needed for the right to develop a piece of
land.
Role of Government Correct answer-1. to pay for/provide all things we can't do
individually (military, roads, schools, utilities)
7. Inspections (building inspection + review services for all construction)
Planning Correct answer-process of developing plans and programs for use of land within
a community
Types of Real Estate Risk Correct answer-- Political (NIMBY)
- Process (approvals)
- Legislative (laws)
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