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Humber College Exam 4: Invigilated Theory Sample Questions:

1. A salesperson negotiates the purchase of a retail property for their client, who plans to open a new store at this location. The client asks the salesperson how many parking spots the property will be required to have to meet the zoning requirements. The salesperson replies that the municipality has zoning requirements that set the minimum parking ratio. How will the municipality calculate the parking ratio?

A) The municipality will take the number of available parking spaces and divide it by the property's gross leasable area.
B) The municipality will take the property's gross leasable area and divide it by the number of available parking spaces.
C) The municipality will take the number of available parking spaces and divide it by the property's net leasable area.
D) The municipality will take the number of available parking spaces and divide it by the projected number of monthly visitors.

2. In regard to equipment at an industrial property that is being shown for sale, a salesperson representing a buyer should do all of the following, EXCEPT:

A) Ensure chattels or fixtures are not included in the sale or negotiated for in the agreement.
B) Ensure they are informed as to whether the equipment shown will be relevant for the buyer's intended use.
C) Obtain clarification as to which equipment seen during the showing will be included in the purchase price of the property.
D) Contact the seller's representative prior to the showing to gain awareness of safety and compliance requirements.

3. When calculating the total purchase price of farmland with improvements on it, which of the following items is NOT included?

A) Residence
B) Fixed equipment
C) Barns and sheds
D) Goodwill

4. A salesperson should know how to gather key information about a new commercial condominium, including the size of a unit. Which of the following sources of information should a salesperson rely on?

A) A sketch of the seller's floor layout
B) An opinion from the property manager
C) A surveyor's certificate for the unit
D) An opinion from the seller's lawyer

5. Which of the following statements about industrial building components is correct?

A) Loading docks are only used to off-load products or raw materials.
B) Bay depth is an important consideration when determining the layout of an industrial process.
C) Flat roofs are designed to be flat to hold water.
D) Floor load refers to the weight of the building during construction.

Solutions: