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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q102-Q107):

NEW QUESTION # 102
Obtaining the size and boundaries of a commercial condominium unit is an important task for a salesperson.
Which of the following statements regarding this task is NOT correct?

A. Space should be measured in accordance with BOMA standards.
B. An Ontario Land Surveyor can be hired to measure the space.
C. The original plans should be used to determine the size of a unit.
D. An architect can be hired to measure the space.

Answer: C

NEW QUESTION # 103
Which of the following statements regarding Building Owners and Managers Association (BOMA) standards is correct?

A. The BOMA standards provide procedures to measure rentable areas only.
B. The BOMA standards provide methods of measuring office buildings only.
C. The BOMA standards are complex.
D. The BOMA standards provide methods of measuring industrial buildings only.

Answer: B

NEW QUESTION # 104
A salesperson must ensure that a buyer client is aware of all revenue sources and expenses related to the property they are interested in purchasing. Which of the following is an accurate statement regarding potential revenue sources for a commercial property?

A. Retail commercial property owners have three types of potential rental income: base rent, additional rent, and percentage rent.
B. Commercial office owners have only one type of potential rental income, which is percentage rent, as the owner themselves pay for the operating expenses of the property.
C. Every commercial property, whether an office building, an industrial property, a retail property, or land, has a single source of revenue, which is the base rent.
D. Shopping centres with more than 150 stores typically have only two types of rental revenues to cover all the operating expenses of the property: base rent and additional rent.

Answer: A

NEW QUESTION # 105
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 provides insufficient due diligence documents
B. Income and expense statements contain misrepresentations
C. The seller discloses all liabilities of the business in writing
D. The condition of goods, chattels, and fixtures cannot be verified

Answer: C

NEW QUESTION # 106
A salesperson is negotiating a lease for a new retail tenant and reviewing the requirements and restrictions regarding the delivery of stock items. Which of the following is NOT a correct statement regarding stock delivery requirements and restrictions in a commercial lease?

A. The salesperson is responsible for addressing site access and exit in the tenant's agreement to lease.
B. Should a delivery truck arrive during an emergency, the property manager must be available.
C. Stock delivery cannot be restricted in a commercial agreement to lease.
D. The salesperson is responsible for negotiating the tenant's stock delivery window.

Answer: C

NEW QUESTION # 107
......

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