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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q42-Q47):

NEW QUESTION # 42
If a property in Ontario is assessed and valued as farmland by the Municipal Property Assessment Corporation (MPAC), the farmer could receive a 75% tax reduction for municipal taxes if certain conditions are met. Which of the following describes a condition that must be met?

A. They are Canadian citizens or permanent residents of Canada.
B. They submit the appropriate application semi-annually.
C. They have a valid harmonized sales tax (HST) registration number under the Excise Tax Act.
D. They carry on a farming business generating a net profit of $100,000.

Answer: C

NEW QUESTION # 43
Which of the following statements regarding heavy industrial use and light industrial use is correct?

A. Light industrial use usually results in more noise and heavier traffic.
B. Heavy industrial use can produce more pollution than other commercial activities.
C. Heavy industrial use usually results in less traffic in and out of the heavy industrial zone.
D. Clay production is an example of light industrial use.

Answer: B

NEW QUESTION # 44
Land developers purchase land for commercial, industrial, and residential projects. Tracts of land larger than five acres but smaller than 10 acres may appeal to land developers for various reasons. Which of the following is one of the reasons?

A. The developer cannot find a building lot to build a detached home.
B. They are normally less expensive than pieces of land smaller than two acres in the same neighborhood.
C. They are a good size for modern 18-hole golf courses.
D. They can be used for newly planned subdivisions.

Answer: D

NEW QUESTION # 45
Which of the following is a correct statement regarding a design-build arrangement in commercial real estate?

A. A design-build arrangement means the buyer will only buy the property if the landowner builds a building to the buyer's specifications.
B. A design-build arrangement requires the buyer to acquire suitable land and construct a building themselves.
C. A design-build arrangement is commonly associated with a seller's market.
D. A design-build arrangement is a sale/leaseback arrangement.

Answer: A

NEW QUESTION # 46
A salesperson is drafting an offer for a vacant industrial site prime for development on behalf of their buyer client. The salesperson has included all proper conditions to protect the buyer, along with sufficient time periods to undertake the due diligence. Which of the following would be an appropriate conditional time period based on the corresponding condition?

A. A conditional time period for a property inspection that is 30 business days in length.
B. A conditional time period for obtaining an approval for a zoning change that is seven business days in length.
C. A conditional time period for verifying the soil condition or type that is five days in length.
D. A conditional time period for verifying the existence of services such as sewage, water, and electricity that is 30 days in length.

Answer: D

NEW QUESTION # 47
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PREX-1060A Reliable Practice Materials - Reliable PREX-1060A Exam Pattern

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q42-Q47):

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