Question 1

Finish the sentence: The Employment Standards Act:

Options :

A : Specifies the terms of a business partnership agreement.

B : Regulates matters involving ownership of a business.

C : Regulates trade names.

D : Protects the rights of workers of a business that is being sold.

Answer: D

Question 2

A buyer client is discussing zoning bylaws of the municipality in relation to an industrial development site with their salesperson. Which of the following is NOT a correct statement with respect to zoning bylaws?

Options :

A : Zoning bylaws specify the permitted land uses throughout a municipality.

B :

Municipal zoning bylaws overrule all other laws with respect to land uses and issuance of building permits in Ontario.

C : New commercial construction and redevelopment must comply with zoning bylaws.

D : Municipalities have zoning bylaws that divide the city into different land uses or zones.

Answer: B

Question 3

A salesperson includes a well-drafted condition in an agreement of purchase and sale for their buyer client to arrange a new first mortgage for an industrial property. The buyer later changes their mind and does not want to borrow money for the purchase. What should the buyer's salesperson use to remove the condition?

Options :

A : Acknowledgment

B : Notice of fulfillment

C : Mutual release

D : Waiver

Answer: D

Question 4

When discussing economic considerations, interest rates, government policies, and infrastructure specific to industrial properties, why are investors attracted to industrial properties?

Options :

A : Industrial properties have a lower capital gains tax at disposition.

B : Good transportation and distribution corridors do not matter to industrial investors and their tenants.

C : Higher mortgage interest rates will provide a better return on investment.

D : Industrial properties have a number of large, credit-worthy tenants and long-term leases.

Answer: D

Question 5

A salesperson is representing a tenant client who is opening a new pet food store in a local strip plaza. The salesperson meets with their tenant to discuss display signage and review the guidelines in their commercial lease agreement. Which statement is NOT accurate regarding the commercial lease agreement's signage clause?

Options :

A :

The tenant-s signage must be approved by the municipality and the landlord, and all associated costs shall be paid by the landlord.

B : The tenant-s signage is considered a trade fixture and shall remain the tenant-s property.

C :

The tenant-s signage shall be immediately removed at the end of their lease term(s) at the tenant’s expense.

D :

The tenant-s signage, from approvals to installation and ongoing maintenance, shall be at thetenant's own expense.

Answer: A

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