Which of the following accurately describes a landlord's commercial property insurance coverage?

• A. A landlord's commercial property insurance policy should cover the loss of rental income in the event of a fire, for the period the premises is vacant while repairs are made.
• B. A landlord's commercial property insurance policy should cover the loss of the tenant's assets due to theft from their employees or third parties.
• C. A landlord's commercial property insurance policy should cover the loss of the property's equity due to a change in market conditions or to a recession.
• D. A landlord's commercial property insurance policy should cover the loss of the tenant's assets and income due to business interruption as the result of a fire or flood.

A salesperson, who is representing a tenant, has completed a comparative market analysis (CMA) of the management fees charged, assessed on a square footage basis, at the different office buildings that their client is interested in leasing. The management fees vary across the comparable office buildings, and the tenant is interested to know why there is a difference. Which of the following is an accurate statement the salesperson can make about the difference in management fees between the buildings?

• A. The salesperson should explain that a tenant occupying a smaller rentable area in a building pays higher management fees per square foot compared to a tenant with an average or larger rentable area.
• B. The salesperson should identify the reasons for high management fees charged for a building and determine the relative value it provides.
• C. The salesperson should tell their client that higher management fees charged for a building always indicates that the tenant is getting superior service and value.
• D. The salesperson should tell the tenant that the Condominium Authority of Ontario regulates management fees charged by buildings as per their size.

Location preferences and accessibility are important when matching a potential buyer client with an appropriate commercial property. Which of the following is NOT a location preference consideration?

• A. Surrounding uses
• B. Demographics
• C. Financial health of the company
• D. Traffic counts

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. An ESA is intended to determine if a property has been contaminated or is facing any environmental threats.
• D. Every new commercial property must undergo an ESA prior to construction.

A salesperson is representing a buyer client in the purchase of a fully tenanted mixed-use building. The agreement of purchase and sale will be in the name of a corporation owned by the buyer and several other shareholders. Which of the following statements is correct regarding the signing of this agreement of purchase and sale?

• A. A major shareholder of the company must sign and date over their printed name.
• B. The buyer must sign and date below the printed name of the corporation.
• C. An authorized signing officer of the company must sign and date over the words: "I haveauthority to bind the corporation" and below the printed registered name.
• D. The general partner of the company must sign and date below the printed name of the limited company.