CODES AND ZONING EXAM QUESTIONS
WITH COMPLETE SOLUTIONS
Financing - ANSWER-After a builder has been chosen , financing must be obtained
from a lender , usually from a bank or a savings and loan company . The loan is for a
certain percentage of the total cost . This percentage varies , but 80 percent is
common . The borrower provides the balance as a down payment .
Typically , a borrower starts with a construction loan . A construction loan is a short term
loan used during construction . The lender provides money periodically as the work
progresses . These sums of money are called draws , or advances . - ANSWER-After
construction is finished , the construction loan is converted to a mortgage . A mortgage
is a long term (15 to 30 years) loan that is secured by the property if the borrower does
not make the mortgage payments . The borrower pays interest and principal over the
life of the loan
Once financing has been arranged , contracts are signed for the construction . From
then on , it is the responsibility of the builder and/or architect to make sure that the
building goes as planned . - ANSWER-A loan officer at the bank may also require
progress reports to ensure that money loaned by the bank is being used properly .
Builders are usually laid a certain portion of the construction costs before work is started
. They are then paid additional amounts at certain stages , such as after the roof is
installed . - ANSWER-Again , these are the draws from construction loan . Final
payment is made after the client and lender have inspected and approved the work .
What are building codes - ANSWER-A building code is a standard is a set of structurally
sound and safe from fire and other hazards. Most communities follow one or more
building codes.
A builder can construct a house that exceeds code requirements. Many builders who
have a reputation for high quality work do this. However by law, a builder must not
construct a house that does not meet the code requirements - ANSWER-During
construction, a building inspector visits the project at various times to ensure that the
building codes are being followed
Model building codes - ANSWER-A model building code is a set of regulations
developed on which local governments can base their own building codes. For many
years, all US Construction was guided by one of three major model US building codes.
They set minimum standards for residential construction
Model building codes also cover work related to installing such utilities as electricity and
plumbing. - ANSWER-The National electrical code and the uniform plumbing code are
two examples
WITH COMPLETE SOLUTIONS
Financing - ANSWER-After a builder has been chosen , financing must be obtained
from a lender , usually from a bank or a savings and loan company . The loan is for a
certain percentage of the total cost . This percentage varies , but 80 percent is
common . The borrower provides the balance as a down payment .
Typically , a borrower starts with a construction loan . A construction loan is a short term
loan used during construction . The lender provides money periodically as the work
progresses . These sums of money are called draws , or advances . - ANSWER-After
construction is finished , the construction loan is converted to a mortgage . A mortgage
is a long term (15 to 30 years) loan that is secured by the property if the borrower does
not make the mortgage payments . The borrower pays interest and principal over the
life of the loan
Once financing has been arranged , contracts are signed for the construction . From
then on , it is the responsibility of the builder and/or architect to make sure that the
building goes as planned . - ANSWER-A loan officer at the bank may also require
progress reports to ensure that money loaned by the bank is being used properly .
Builders are usually laid a certain portion of the construction costs before work is started
. They are then paid additional amounts at certain stages , such as after the roof is
installed . - ANSWER-Again , these are the draws from construction loan . Final
payment is made after the client and lender have inspected and approved the work .
What are building codes - ANSWER-A building code is a standard is a set of structurally
sound and safe from fire and other hazards. Most communities follow one or more
building codes.
A builder can construct a house that exceeds code requirements. Many builders who
have a reputation for high quality work do this. However by law, a builder must not
construct a house that does not meet the code requirements - ANSWER-During
construction, a building inspector visits the project at various times to ensure that the
building codes are being followed
Model building codes - ANSWER-A model building code is a set of regulations
developed on which local governments can base their own building codes. For many
years, all US Construction was guided by one of three major model US building codes.
They set minimum standards for residential construction
Model building codes also cover work related to installing such utilities as electricity and
plumbing. - ANSWER-The National electrical code and the uniform plumbing code are
two examples
