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Humber College Exam 4: Invigilated Theory Sample Questions:

1. A buyer is interested in constructing a retail building and wants to use the most efficient method to save time and money. Which statement is true with regard to tilt-up wall panels and pre-cast panels?

A) Pre-cast panels cost much more than tilt-up panels.
B) Both tilt-up panels and pre-cast panels are formed off-site.
C) Both tilt-up panels and pre-cast panels can lower construction costs.
D) Pre-cast panels are more durable than tilt-up panels.

2. A salesperson is helping a buyer client to purchase a piece of vacant land to develop in the future. The salesperson recommends that the buyer consult with a third-party professional because the salesperson cannot provide the service with reasonable knowledge, skill, judgment, and competence. Which of the following is NOT a professional the salesperson would likely recommend to the buyer?

A) A consultant in a financial institution
B) A legal consultant who specializes in evicting residential tenants
C) A zoning specialist in the city's planning department
D) An appraiser with Accredited Appraiser Canadian Institute (AACI) designation

3. A buyer client and their salesperson are doing a visual check of the industrial property that the buyer is planning to purchase. When they get to the rear of the property, the salesperson observes a potential source of contamination. Which of the following factors is likely the cause of concern for the salesperson?

A) The neighboring property includes a restaurant, a dental clinic, and a law office.
B) There is vacant land nearby with a small pond with discolored standing water.
C) The office building next door has an overflow parking lot.
D) There is a residential neighborhood and playground nearby.

4. In regard to Environmental Site Assessments (ESAs), which of the following is NOT accurate?

A) ESAs are regulated under the Canadian Environmental Protection Act.
B) Local building departments use ESAs as the basis for changes to municipal zoning bylaws.
C) Every new commercial property must undergo an ESA prior to construction.
D) An ESA is intended to determine if a property has been contaminated or is facing any environmental threats.

5. When a farm is sold, there are exemptions to the payment of harmonized sales tax (HST). In which of the following circumstances is a farmer responsible to pay HST to the Canada Revenue Agency (CRA)?

A) The farmer sells the farm to a relative.
B) The farm has been used for personal use.
C) The farm is sold to a corporation and the HST is included in the selling price.
D) The farmer uses a smaller portion of the farm for a residence.

Solutions: