Question 1

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 2

Which of the following is most likely to be a factor in an appraisal for an industrial property?

Options :

A : Amount of advertising and publicity

B : Proximity to museums and historical sites

C : Price trend for detached homes in nearby neighborhoods

D : Access to raw materials used in the region

Answer: D

Question 3

Which of the following is a reason why an owner might consider redeveloping an industrial property?

Options :

A : The cost of relocating is low.

B : A similar building can be bought at a low price.

C : The existing building no longer provides the highest and best use of the site.

D : A redevelopment will seriously disrupt the current operation.

Answer: C

Question 4

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 5

When discussing the sale of a business and establishing the asking price, there are questions a salesperson must ask the owner. Which of the following is one of them?

Options :

A : Is there any easement on the property?

B : Is the ownership of the building a corporation or a partnership?

C : What is the construction cost of the building?

D : Is inventory included in the sale of this business?

Answer: D