Commercial Real Estate Transactions - Test 06

The test consists of 200 multiple-choice questions, which can be intimidating at first glance. However, all practice questions are taken directly from the official Ontario real estate course book, providing test-takers with a solid understanding of the material. Additionally, passing this test is a crucial step towards becoming a licensed commercial real estate agent in Ontario. This license will allow agents to practice in various areas, including leasing, investment, and property management. The test assesses an individual’s knowledge and understanding of commercial real estate transactions, including legal considerations, ethical standards, and market analysis. By familiarizing themselves with the material and taking practice tests, test-takers can increase their chances of passing the Ontario Commercial Real Estate Transactions Test on the first try, paving the way toward a successful career in commercial real estate.


Commercial Real Estate Transactions - Practice Test 06

Ontario Commercial Real Estate Transactions - Course 4

1 / 30

Which of these is not part of the status certificate provided by the condominium corporation?

2 / 30

The utility load of a buyer's proposed usage should be confirmed by…?

3 / 30

A lease in which a tenant pays a set rental with the landlord having responsibility for all other expenses is known as a…?

4 / 30

If a condominium corporation provides an option to purchase an outdoor pylon sign, the buyer will be responsible for…?

5 / 30

A salesperson should always recommend that a buyer has all documentation reviewed by…?

6 / 30

Industrial premises can have a floor to ceiling height of up to…?

7 / 30

On a retail ground lease, which of these applies?

8 / 30

In a rent free period at the start of a lease, which of these applies?

9 / 30

Confirmation that a property's intended use by the buyer is permissible under zoning regulations must be obtained by…?

10 / 30

If significant contamination of a site is revealed, the buyer…?

11 / 30

If a seller rejects a buyer's proposed amendments to an agreement, what happens?

12 / 30

To satisfy FINTRAC regulations, which of these parties must be identified and verified to be on the agreement of purchase and sale?

13 / 30

Either landlords or tenants may take a case at the Superior Court of Justice for dispute resolution if the dispute involves sums in excess of…?

14 / 30

An "anchor tenant" in a shopping centre may…?

15 / 30

Which of these must a tenant pay a share of if they have a triple net lease?

16 / 30

Any damage to a property caused by the agreed removal of fixtures and fittings must be paid for by…?

17 / 30

If HST does not apply, a certificate this effect must be provided by…?

18 / 30

Issues affecting the closing of a transaction, such as environmental problems or damage, may be addressed by…?

19 / 30

The purchase price and deposit should be written on the agreement of purchase and sale as…?

20 / 30

Common area maintenance in a property is a responsibility of…?

21 / 30

Which of these applies to a percentage lease?

22 / 30

A levy charged by the condominium corporation to pay for costs of lawsuits, repairs or unexpected expenses is known as a…?

23 / 30

The basic lease used by a landlord in a commercial complex that applies to most of the tenants is known as the…?

24 / 30

A lease cannot be enforced unless it contains…?

25 / 30

An incomplete property assessment clause should be added to an agreement to protect the buyer against…?

26 / 30

Industrial property agreements of purchase and sale must be made on form number…?

27 / 30

If municipal property taxes are higher than a builder had estimated due to a final assessment value higher than originally given, a buyer who has signed an agreement…?

28 / 30

Which of these is excluded from a tenant's responsibilities if they have a double net lease?

29 / 30

The status certificate conditional clause should ensure that if a unit proves unsuitable for the buyer's intended purposes they can terminate the agreement…?

30 / 30

The concept of privity means what?

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