Last Updated: Jun 06, 2026
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1. While preparing to list a vacant retail site that allows new auto sales, the salesperson sees that there is an auto repair garage business next door with old and rusting metal storage tanks at the side of their building. Which of the following is the correct action for the salesperson to take?
A) The salesperson should include the information in the marketing material as it would be beneficial for an auto sales business to have a garage located nearby.
B) The salesperson should ask the owner of the garage for more information and what course of action they recommend to assist a future purchaser of the site.
C) The salesperson should ask the owner of the garage whether they have thought about selling their property at this time.
D) The salesperson should attempt to identify signs of contamination on the property and recommend an appropriate third-party expert to the seller client.
2. A salesperson is searching for properties on behalf of their retail buyer client for their designer eyewear and optical store. The buyer discusses their storage and product display needs with the salesperson. Which of the following is NOT a factor the buyer should consider regarding the product display and storage space of potential properties?
A) The salesperson should advise the buyer to consider their business's predicted monthly inventory.
B) The salesperson should advise the buyer to consider the space they will need to allot for storage versus customer-facing product.
C) The salesperson should advise the buyer to consider the size of their products.
D) The salesperson should advise the buyer to consider the price of their products.
3. A salesperson is discussing the advantages and disadvantages of owning commercial real estatewith their investor buyer client. Which of the following is NOT an advantage of owning commercial real estate?
A) Limited equity investment while gaining leverage through financing is an advantage of owning commercial real estate.
B) Quick turnaround time to free up capital when needed is an advantage of owning commercial real estate.
C) Potential to recover capital through refinancing is an advantage of owning commercial real estate.
D) Potential for tax sheltering possibilities for the investor is an advantage of owning commercial real estate.
4. When a property assessment of a new commercial property has not been completed prior to its resale, what should a salesperson do to protect the buyer?
A) Include the current tax assessment as a schedule of the agreement.
B) Ensure the offer contains a clause requiring the seller and the buyer to share the property taxes to be assessed for the next three years.
C) Ensure the offer contains a clause allowing for compensation for adjustments to the property taxes.
D) Get a letter from the seller to guarantee a maximum amount of realty tax payment in the coming year.
5. A tenant has an established business with good growth potential for the foreseeable future and wants to rent a retail property for expansion. If the landlord wants to have the opportunity to boost the rent when the tenant's sales are good, which type of lease would you recommend to the landlord?
A) Net lease
B) Triple net lease
C) Percentage lease
D) Gross lease
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: C |
Monroe
Ian
Leo
Myron
Reginald
Tom
Adelaide
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