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Humber College Exam 4: Invigilated Theory Sample Questions:

1. Salespersons are required to verify, wherever they can, information provided by landlords, such as zoning details and permitted uses. A salesperson is helping a major landlord to lease out a big retail mall that involves complex matters. Which of the following does NOT need third-party professional advice?

A) The total area measurements
B) The number of sprinklers required in every unit
C) The maximum floor load of every unit
D) The total remuneration payable for a 20-year lease

2. Examples of properties which would warrant a Phase 2 environmental assessment may include heavy industrial sites. Which of the following is NOT an example of a heavy industrial use?

A) Power stations
B) Chemical manufacturers
C) Petroleum storage and distribution sites
D) Computer training institute

3. A retail property buyer must consider the parking requirements associated with the site. All of the statements below are considerations for parking, EXCEPT:

A) Required parking for persons with disabilities is usually fixed as a ratio based on the number of disabled persons in the community.
B) Parking may be impacted by the municipality's parking bylaw.
C) Parking may be impacted by zoning requirements.
D) There may be minimum width and depth requirements for parking spaces.

4. A salesperson is assisting both the tenant and the landlord in a commercial property rentaltransaction. Which of the following statements about calculating the remuneration for this transaction is correct?

A) Remuneration can be an agreed amount or a percentage of the rental price, but not a combination of both.
B) Salespersons are prohibited from indicating directly that remuneration is fixed by any association but can indicate it indirectly.
C) The tenant may be required to pay the deficiency between the contracted amount in the tenant representation agreement and the amount actually paid by the landlord.
D) Remuneration can be calculated based on the difference between the listing price and the actual rental price.

5. Which statement about an Environmental Site Assessment (ESA) is NOT correct?

A) No stipulations exist for the third and final phase of an ESA due to its vast and complex nature.
B) The Environmental Protection Act establishes the procedures and requirements for the first two phases of an ESA.
C) An ESA is not required if the buyer is purchasing the industrial property for their own use.
D) All new commercial properties must undergo an ESA before construction begins.

Solutions: