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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q65-Q70):

NEW QUESTION # 65
There are different requirements under REBBA and other legislation that affect the sale of a business. Which of the following is NOT correct?

A. A key consideration a salesperson must keep in mind when handling the sale of a business is operating licenses.
B. There are various municipal bylaws that could impact the sale of a business, depending on the business activity.
C. If a municipal license is associated with the business and it may be transferrable to the buyer, then it is of no concern to the sales representative.
D. Depending on the business location, there are various municipal bylaws, zoning, permits, and other rules and regulations that could impact the sale of a business.

Answer: C

NEW QUESTION # 66
A retail property buyer must consider the parking requirements associated with the site. All of the statements below are considerations for parking, EXCEPT:

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

Answer: D

NEW QUESTION # 67
Which of the following statements about economic development offices is NOT correct?

A. Economic development offices can help guide development applications through municipal processes and streamline the approvals process for companies unfamiliar with regulatory requirements.
B. Economic development offices can provide you with real property information regarding tax assessments and how to appeal your real estate taxes.
C. Economic development offices provide background information on local, provincial, and federal research and development incentives.
D. Economic development offices have important resources for those seeking suitable commercial sites for business operations.

Answer: B

NEW QUESTION # 68
A buyer client and their salesperson are doing a visual check of the industrial property that the buyer is planning to purchase. When they get to the rear of the property, the salesperson observes a potential source of contamination. Which of the following factors is likely the cause of concern for the salesperson?

A. The office building next door has an overflow parking lot.
B. There is vacant land nearby with a small pond with discolored standing water.
C. There is a residential neighborhood and playground nearby.
D. The neighboring property includes a restaurant, a dental clinic, and a law office.

Answer: B

NEW QUESTION # 69
A salesperson has a buyer client in the metal fabrication industry, which requires outdoor storage and involves substantial noise and smells. The salesperson sees a listing that says "24,000-square-foot light industrial property, multi-uses permitted." Is this a suitable property for their client? Why or why not?

A. No, the property is not suitable, as the client's business type and classification require heavy industrial zoning.
B. Yes, the property is suitable, as the listing says the property is light industrial and multi-uses are permitted.
C. Yes, the property will be suitable if the client states they will change the zoning to allow their type and classification of business to operate at this location.
D. Yes, the property is suitable since the client is already in the metal fabrication business, and does not need to get any permits from the municipality prior to moving in and using the property.

Answer: A

NEW QUESTION # 70
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