Type V construction is exemplified by wood-framed light commercial or residential construction. It can be superior to this and even be constructed of concrete and steel, but it only needs to meet the fire safety of wood-framed construction.
Type III construction will have a heavy fire-resistant outer barrier with much lighter interior construction. You see this in a lot of urban non-high-rise construction. Concrete or masonry exterior walls are common with wood or light gauge metal framed interiors. Interior corridors, stairways, and shafts get additional protection as well.
MKDesign 