Commercial Real Estate Transactions - Test 07

If you are looking to get into the competitive world of commercial real estate in Ontario, it is essential to be prepared for the Ontario Commercial Real Estate Transactions Test. This exam is designed to assess your knowledge and understanding of Ontario’s laws, regulations, and practices concerning commercial real estate. The test comprises 200 multiple-choice questions, each taken from the official Ontario real estate course book. It is a tight and challenging exam that requires a deep understanding of the nuances of the Ontario commercial real estate market. Therefore, taking a practice test with 200 multiple-choice questions and answers that simulate the actual exam’s format is critical to acing it.


Commercial Real Estate Transactions - Practice Test 07

Ontario Commercial Real Estate Transactions - Course 4

1 / 20

A holdover provision in a lease allows the landlord to charge how much per month if a tenant remains in a property after a lease has expired?

2 / 20

If a buyer finances the purchase of a business using seller financing, the buyer must submit a business plan and an upfront downpayment of at least…?

3 / 20

What is the "loss factor" in building measurements?

4 / 20

When preparing a comparative market analysis for a commercial lease, the assessor should analyse the rental history for at least the previous…?

5 / 20

Under the Employment Standards Act, when a business is sold employees of the business…?

6 / 20

On fulfilment of certain conditions, Ontario farmers receive what reduction on municipal tax rates on their farm property?

7 / 20

When listing a business for sale, a salesperson should consider…?

8 / 20

HST may not apply to the sale of a business if the seller and buyer agree and the buyer acquires at least what percentage of the property to carry out the business activity?

9 / 20

A commercial lease does not compulsorily have to be in writing if it lasts for less than…?

10 / 20

If a landlord seizes a tenant's property when they have failed to pay their rent they must hold it for a minimum of how long to allow the tenant to have a chance to make payment?

11 / 20

In a farm crop share lease situation, the most common division of income is that the landlord will get what share of the income from crop sales?

12 / 20

A listing salesperson for a business must provide a buyer with a profit and loss statement for at least the previous…?

13 / 20

If a commercial tenant fails to pay their rent the landlord may change the locks and evict them without notice how many days after the rent was due?

14 / 20

When purchasing a business, all fixtures, goods, chattels, assets and other items associated with it are considered part of the sale unless…?

15 / 20

The return of a deposit to a tenant if a transaction is not closed must be by…?

16 / 20

If a tenant has a "first right of refusal" clause in the lease, they have how long to decide if they wish to occupy adjacent vacant spaces to their property before it is released to a third-party?

17 / 20

REBBA defines the sale of a business as being…?

18 / 20

With offers on farm properties, the irrevocability (time given to accept, reject or make counter offers) is usually set at…?

19 / 20

The "places to grow" act does what?

20 / 20

A clause in a commercial lease which makes it compulsory for a tenant to maintain an active business in the leased property is known as a…?

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