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Humber College Exam 4: Invigilated Theory Sample Questions:

1. A seller provides you with architectural drawings of their building. Which statement is NOT correct?

A) A photocopy of a source document can be used to verify information.
B) Architectural drawings are source documents.
C) Other types of source documents include surveys and tax records.
D) If changes are made to source documents, they are still valid if you have the original document.

2. Which of the following practices maintains the stability and durability of a commercial property?

A) Increasing the base rent and additional rent in a slow economy
B) Delaying improvements to the property to save costs
C) Replacing old tenants with new tenants that pay much higher rent
D) Keeping good tenants

3. A salesperson is helping a buyer identify their needs and property requirements to select an appropriate office property and they are discussing the office layout. Which of the following is NOTa layout consideration?

A) Boardrooms, private offices, and workstations
B) Kitchens/lunchrooms
C) Storage
D) Fitting rooms

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

5. Sometimes, transactions do not close. When a transaction won't be completed, what should a salesperson try to do as soon as possible?

A) Pass the transaction to the broker of record so that the broker will take care of it.
B) Terminate the transaction and disengage from it.
C) Obtain the remuneration owed.
D) Conduct an analysis of why the transaction will not be carried out.

Solutions: