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1. The balance sheet of a business helps investors understand its stability and assess financial risk. A balance sheet includes details about all of the following, EXCEPT:

A) Shareholder's equity
B) Assets
C) Liabilities
D) Net operating income

2. Examples of properties which would warrant a Phase 2 environmental assessment may include heavy industrial sites. Which of the following is NOT an example of a heavy industrial use?

A) Chemical manufacturers
B) Power stations
C) Petroleum storage and distribution sites
D) Computer training institute

3. Which of the following is NOT determined by zoning bylaws?

A) The types of buildings that are permitted in a location, their height, and how they may be used
B) The amount of rent a building may generate
C) Lot dimensions and parking requirements
D) Where buildings and other structures may be located

4. A salesperson should know how to gather key information about a new commercial condominium, including the size of a unit. Which of the following sources of information should a salesperson rely on?

A) A sketch of the seller's floor layout
B) An opinion from the seller's lawyer
C) A surveyor's certificate for the unit
D) An opinion from the property manager

5. Different clauses can be used for each transaction to address the unique needs of buyers and sellers. Which of the following may be used in an agreement of purchase and sale to buy a commercial property?

A) A clause for the buyer to review the leases only after all conditions have been waived and accepted
B) A clause to confirm the remuneration payable to the brokerages will be as stated in the seller representation agreement
C) A clause for the buyer to have the right to negotiate for specialized restaurant equipment that is not included in the property purchase price
D) A clause for the seller to disclose all information verbally without providing supporting documents to verify that information; documents to be provided on closing

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