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1. 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) 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.
B) A major shareholder of the company must sign and date over their printed name.
C) The buyer must sign and date below the printed name of the corporation.
D) The general partner of the company must sign and date below the printed name of the limited company.

2. A salesperson is representing a commercial landlord in a lease negotiation. The landlord wants to sign back the offer with a higher rent. What should the salesperson make the landlord aware of regarding the rent increase?

A) The rent increase cannot be more than the Consumer Price Index (CPI).
B) The rent increase can be challenged by the Landlord and Tenant Board.
C) The rent increase can be any amount.
D) The rent increase cannot be higher than the guideline set by the government.

3. Finish the sentence: When a commercial tenant enters an agreement to lease, the covenant to pay rent specifies that the tenant:

A) Cannot withhold rental payments even if the landlord does not comply with their obligations under the lease.
B) Agrees to pay additional rent for a gross lease.
C) Agrees to pay any percentage rent a landlord demands, regardless of sales revenue.
D) Cannot pay rent to the property manager and must pay directly to the property owner.

4. 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) Traffic counts
C) Financial health of the company
D) Demographics

5. A buyer client is interested in purchasing a 30,000 sq. ft. industrial building in an industrial park. The buyer's salesperson drafts an agreement of purchase and sale that includes an environmental site assessment condition that must be met at the buyer's own expense, and to the buyer's satisfaction. Which of the following is NOT an accurate statement regarding the environmental site assessment condition?

A) The environmental site assessment condition makes the offer conditional upon all possible court actions regarding environmental matters being thought of and reported.
B) The environmental site assessment condition makes the offer conditional upon the buyer determining that the property is free from hazardous conditions or substances.
C) The environmental site assessment condition makes the offer conditional upon the buyer determining that no limitations or restrictions affecting the continued use of the property exist.
D) The environmental site assessment condition makes the offer conditional upon the seller delivering documents, records, and reports relating to environmental matters to the buyer upon request.

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