Free Humber College PREX-1060A Practice Exam with Questions & Answers | Set: 2

Zoning bylaws specify the permitted land uses throughout a municipality.

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

New commercial construction and redevelopment must comply with zoning bylaws.

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

Verify if there are any non-competition provisions that need to be satisfied as set out in thecondominium rules or bylaws.

Ensure there is parking and repair space available for commercial trucks.

Confirm that the contract of the condominium property management company has been renewed for at least 10 years.

Obtain the existing status certificate from the brokerage to verify all restrictions, including shared premises with other businesses in the commercial condominium.

The types of buildings that are permitted in a location, their height, and how they may be used

Lot dimensions and parking requirements

The amount of rent a building may generate

Where buildings and other structures may be located

The relative lack of liquidity

The relative lack of capital growth during the holdover period

The fact that rent, leased space, and building size are fixed

The insufficiency of cash flow during the holding period

Change the completion date by using a waiver.

Change the completion date by using a notice of fulfillment.

Change the completion date by using an amendment to the agreement of purchase and sale.

A change is not necessary because the damage is out of the control of the buyer or the seller.

Amount of advertising and publicity

Proximity to museums and historical sites

Price trend for detached homes in nearby neighborhoods

Access to raw materials used in the region

Is there any easement on the property?

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

What is the construction cost of the building?

Is inventory included in the sale of this business?

The investor is afforded the opportunity to enhance yield.

The success of ventures often rests in the availability and suitability of financing.

Lenders will apply various financial ratios to get a solid understanding of the business's performance and the ability of the borrower to service debt.

It does not matter; mortgaging does not affect cash flow and yields.

The cost approach is preferred for newer construction properties, as the appraiser would not need to make a subjective estimation of the accrued depreciation of the building.

The cost approach is typically used to appraise income-generating properties.

The cost approach is preferred for older construction properties, as calculating depreciation on them is fairly straightforward.

The cost approach is useful for the appraisal of property types for which sales and income data are scarce, such as industrial and special-purpose properties.

Power stations

Petroleum storage and distribution sites

Chemical manufacturers

Computer training institute