Commercial Real Estate Transactions

Commercial Real Estate Transactions - Test 04

Taking the Ontario Commercial Real Estate Transactions Test is an essential step towards becoming a licensed real estate professional in Ontario. This rigorous test comprises 200 multiple-choice questions and is designed to evaluate prospective real estate agent’s knowledge of commercial property transactions. However, candidates need not worry, as our free Ontario Commercial Real Estate practice test offers an excellent opportunity to hone their skills and prepare for the exam. All questions featured in the practice test have been taken from the official Ontario real estate course book, ensuring that candidates gain a comprehensive understanding of the field’s fundamental concepts and principles.

Commercial Real Estate Transactions - Practice Test 04

Ontario Commercial Real Estate Transactions - Course 4

1 / 30

Bay depth in a property is what?

The distance between columns

The distance between walls

The width of the loading dock

The distance between floor and ceiling

2 / 30

Floor load refers to the capacity of a floor to support…?

Live loads

Vehicles

Stored goods

Structural weight

3 / 30

Older industrial properties may be converted into "incubator" buildings, which are characterised by…?

Small low rent units

Single use industrial purposes

Expensive substantial manufacturing units

Warehousing facilities for businesses elsewhere

4 / 30

A grade level loading dock permits access for…?

Saloon cars

Forklift trucks

Pickup trucks

Motorcycles

5 / 30

The office area of an industrial building generally takes up what percentage of the total building area?

20%

30%

10%

40%

6 / 30

Office space in industrial buildings is typically limited by zoning laws to a maximum of what percentage of the total area?

30%

20%

40%

10%

7 / 30

Capital expense quotes for buyers should be…?

Any of these

Obtained from third-party professionals

Prepared by the salesperson

Prepared by the seller

8 / 30

If a property falls under "nonconforming use" because its usage predates the passage of zoning bylaws, owners…?

Must end the nonconforming use immediately

Have to demolish the building and rebuild

Will be heavily fined

Can apply for a continuation of nonconforming use

9 / 30

When a salesperson has received a buyer's criteria, the code of ethics demands that they should…?

Show them all suitable properties without regard to potential remuneration

Only show them properties that offer good remuneration

Show them the properties offering the largest remuneration first

Refuse to show them properties that offer lower remuneration

10 / 30

If a seller does not wish to remedy any detrimental conditions on their property before selling, what should a salesperson do?

Insist that remedial measures must be taken

Refuse to market the property

Warn them that it will adversely affect value

Report them to the authorities

11 / 30

Accessory buildings on industrial lots are primarily used for what?

Raw material storage

Generating plant

Vehicle storage

Staff restrooms

12 / 30

The ultimate goal of due diligence by a salesperson is to…?

Make sure that all property taxes are paid

Ensure that the seller gets maximum value

Cover the salesperson against legal action

Place the buyer in full possession of all facts

13 / 30

If a buyer wants to alter a building to meet their specific needs in a way that does not comply with local zoning bylaws, they must apply for…?

Zoning variance

Major variance

Change of use permission

Minor variance

14 / 30

Which of these could be granted an easement over industrial land?

Any/all of them

Power cables

Storm sewerage

Natural gas lines

15 / 30

The effective age of a building is…?

Based on the number of years it has been in operation

Based on the care and maintenance the building has received

Based on the number of years since it was built

Based on the number of years since planning permission was requested

16 / 30

Brownfields sites often attract…?

Any/all of these

Municipal tax relief

Municipal financial assistance

Accelerated planning/approval processes

17 / 30

Which of these is an example of a "single purpose" industrial building?

Basic warehousing building

Specialised warehousing building

Specialised manufacturing building

Oil refinery

18 / 30

The tenant mix in a retail centre is ultimately determined by…?

Customer surveys

The property owner

Potential tenants

The existing tenants

19 / 30

Measurements of industrial properties for sale should be taken by…?

The seller's brokerage

The seller

The buyer

A professional measurement company

20 / 30

Whether or not a property is affordable for a specific buyer will depend on the purchase price and…?

Any/all of these

Management expenses

Current cost of borrowing

Potential returns

21 / 30

Surveys should be prepared by…?

A building expert

An Ontario Land Surveyor

The buyer

The salesperson

22 / 30

Industrial hydro services commonly use what to change the voltage of the electrical supply?

Delimiter

Battery

Converter

Transformer

23 / 30

The "highest and best use" of a building or vacant land is the one that…?

Will provide the greatest tax return to the government

Will produce the greatest financial/amenity return

Will offer the greatest benefit to the neighbourhood community

Will offer the most eco-friendly use of the land

24 / 30

Failure to disclose known latent defects and material latent defects may leave a property…?

Any/all of these

In a dangerous state

Unfit for habitation

In violation of municipal/provincial regulations

25 / 30

Brownfields sites are generally ones which…?

Previously had industrial buildings on them

Were previously in a natural state

Previously had residential buildings on them

Were previously used for agriculture

26 / 30

Checking employee records should be done as part of…?

Financial and operational due diligence

Structural of due diligence

Environmental due diligence

Legal due diligence

27 / 30

A commercial brokerage asked to look for a property for a buyer must perform detailed analysis of their…?

Building requirements

All of these

Site requirements

Business requirements

28 / 30

The Ontario Building Code sets the number of bathrooms required in an industrial building on the basis of…?

Height of building

Number of employees

Size of building

Purpose of building

29 / 30

A hydrogeological report may be required if…?

The property has no water supply

Water pressure is too low

The water supply has been cut off for some time

Changes to the water supply are needed

30 / 30

Soil testing of industrial land is undertaken by…?

Third-party experts

The salesperson

The seller

The buyer

Your score is