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Humber College Exam 4: Invigilated Theory Sample Questions:
1. Which of the following is NOT determined by zoning bylaws?
A) Lot dimensions and parking requirements
B) Where buildings and other structures may be located
C) The amount of rent a building may generate
D) The types of buildings that are permitted in a location, their height, and how they may be used
2. A salesperson is representing a commercial landlord in a lease negotiation. The landlord wants to sign back the offer with a higher rent. What should the salesperson make the landlord aware of regarding the rent increase?
A) The rent increase can be challenged by the Landlord and Tenant Board.
B) The rent increase cannot be more than the Consumer Price Index (CPI).
C) The rent increase cannot be higher than the guideline set by the government.
D) The rent increase can be any amount.
3. When representing a client who is selling a business, a salesperson must be aware of concerns related to compliance. Which of the following is NOT a compliance concern?
A) The seller discloses all liabilities of the business in writing
B) Income and expense statements contain misrepresentations
C) The seller provides insufficient due diligence documents
D) The condition of goods, chattels, and fixtures cannot be verified
4. If a retail unit has a usable area of 3,482 sq. ft. with a conversion rate of 1.1235, what would the tenant's rentable area be?
A) The retail tenant's rentable area would be 3,605 sq. ft.
B) The retail tenant's rentable area would be 3,912 sq.ft.
C) The retail tenant's rentable area would be 3,073 sq.ft.
D) The retail tenant's rentable area would be 3,482 sq. ft.
5. While preparing to list a vacant retail site that allows new auto sales, the salesperson sees that there is an auto repair garage business next door with old and rusting metal storage tanks at the side of their building. Which of the following is the correct action for the salesperson to take?
A) The salesperson should include the information in the marketing material as it would be beneficial for an auto sales business to have a garage located nearby.
B) The salesperson should ask the owner of the garage for more information and what course of action they recommend to assist a future purchaser of the site.
C) The salesperson should attempt to identify signs of contamination on the property and recommend an appropriate third-party expert to the seller client.
D) The salesperson should ask the owner of the garage whether they have thought about selling their property at this time.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: B | Question # 5 Answer: C |
By Natalie
