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Humber College Exam 4: Invigilated Theory Sample Questions:

1. Which of the following is a characteristic of main street retail?

A) Must be located in a small, older community
B) Structure size typically ranges from 100,000 to 130,000 square feet
C) Comprises a blend of old and new stores
D) Consists of newer, free-standing buildings only

2. When representing a client who is selling a business, a salesperson must be aware of concerns related to compliance. Which of the following is NOT a compliance concern?

A) The condition of goods, chattels, and fixtures cannot be verified
B) The seller discloses all liabilities of the business in writing
C) Income and expense statements contain misrepresentations
D) The seller provides insufficient due diligence documents

3. The key mechanical components of commercial buildings include heating, cooling, and electrical systems.
Which of the following tasks is NOT usually completed by the salesperson?

A) Reviewing whether the technical components have been recently replaced or upgraded.
B) Contacting contractors for quotes for repairing or replacing equipment.
C) Ensuring inspections are being carried out as required.
D) Learning what types of equipment are in the building and having a general understanding of their age and condition.

4. Which of the following statements regarding Building Owners and Managers Association (BOMA) standards is correct?

A) The BOMA standards provide procedures to measure rentable areas only.
B) The BOMA standards are complex.
C) The BOMA standards provide methods of measuring office buildings only.
D) The BOMA standards provide methods of measuring industrial buildings only.

5. A salesperson is searching for properties on behalf of their retail buyer client for their designer eyewear and optical store. The buyer discusses their storage and product display needs with the salesperson. Which of the following is NOT a factor the buyer should consider regarding the product display and storage space of potential properties?

A) The salesperson should advise the buyer to consider their business's predicted monthly inventory.
B) The salesperson should advise the buyer to consider the price of their products.
C) The salesperson should advise the buyer to consider the size of their products.
D) The salesperson should advise the buyer to consider the space they will need to allot for storage versus customer-facing product.

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