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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q104-Q109):

NEW QUESTION # 104
A salesperson is helping a buyer client to purchase a piece of vacant land to develop in the future. The salesperson recommends that the buyer consult with a third-party professional because the salesperson cannot provide the service with reasonable knowledge, skill, judgment, and competence. Which of the following is NOT a professional the salesperson would likely recommend to the buyer?

A. A consultant in a financial institution
B. A zoning specialist in the city's planning department
C. A legal consultant who specializes in evicting residential tenants
D. An appraiser with Accredited Appraiser Canadian Institute (AACI) designation

Answer: C

NEW QUESTION # 105
Both the landlord and the tenant have responsibilities in the management of their relationship as per the commercial lease agreement. Which of the following is NOT an accurate statement regarding the roles and responsibilities of landlords and tenants as per the Commercial Agreement to Lease?

A. Not all commercial leases require the landlord to perform repairs and maintenance.
B. Tenants are obligated to ensure they have adequate tenant insurance for their property.
C. The landlord must address their tenants' issues in a timely manner in general but more so when the issue can result in serious and costly consequences.
D. All commercial leases require that tenants keep everything in and about the property, including all points of entry and exit, in good repair at all times.

Answer: D

NEW QUESTION # 106
A salesperson is searching for properties on behalf of their retail buyer client for their designer eyewear and optical store. The buyer discusses their storage and product display needs with the salesperson. Which of the following is NOT a factor the buyer should consider regarding the product display and storage space of potential properties?

A. The salesperson should advise the buyer to consider their business's predicted monthly inventory.
B. The salesperson should advise the buyer to consider the price of their products.
C. The salesperson should advise the buyer to consider the size of their products.
D. The salesperson should advise the buyer to consider the space they will need to allot for storage versus customer-facing product.

Answer: B

NEW QUESTION # 107
A salesperson representing a client who is selling an office property has received some documents from the seller and is trying to organize them. Which of the following documents is NOT needed by the salesperson or seller when selling the property?

A. Income verification documents
B. Private mortgage form
C. Telephone bills
D. Environmental site assessments

Answer: C

NEW QUESTION # 108
Which of the following is NOT relevant information a salesperson must verify when representing a landlord who is planning to lease their industrial property?

A. The salesperson must verify the rates and terms of lease for the property.
B. The salesperson must verify the zoning information for the industrial property.
C. The salesperson must verify whether the tenant's intended use for the industrial property is permitted under the zoning bylaw.
D. The salesperson must verify the previous tenant's lease rates and terms.

Answer: D

NEW QUESTION # 109
......

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