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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) Liabilities
C) Assets
D) Net operating income
2. A buyer is interested in constructing a retail building and wants to use the most efficient method to save time and money. Which statement is true with regard to tilt-up wall panels and pre-cast panels?
A) Both tilt-up panels and pre-cast panels can lower construction costs.
B) Pre-cast panels cost much more than tilt-up panels.
C) Both tilt-up panels and pre-cast panels are formed off-site.
D) Pre-cast panels are more durable than tilt-up panels.
3. A developer has completed the construction of a new commercial condominium project that is readyfor occupancy by the buyers. The condominium should be registered within approximately six months. Which of the following accurately describes a responsibility of the developer?
A) The developer will be responsible for calling a general meeting within 21 days to appoint a new board of directors.
B) The developer will be responsible for overseeing the business affairs of the condominium corporation after the turnover meeting.
C) The developer will be responsible for much of the day-to-day management of the condominium corporation's affairs after the turnover meeting.
D) The developer will be responsible for registering the declaration and description and creating the plan and vision for the property.
4. Many industrial users install one or more cranes on their properties to move heavy items. Which type of industrial crane has an arm attached at an angle to a rotating mast that permits 360-degree swiveling around that mast?
A) Bridge crane
B) Overhead crane
C) Gantry crane
D) Jib crane
5. There are different requirements under REBBA and other legislation that affect the sale of a business. Which of the following is NOT correct?
A) There are various municipal bylaws that could impact the sale of a business, depending on the business activity.
B) A key consideration a salesperson must keep in mind when handling the sale of a business is operating licenses.
C) Depending on the business location, there are various municipal bylaws, zoning, permits, and other rules and regulations that could impact the sale of a business.
D) If a municipal license is associated with the business and it may be transferrable to the buyer, then it is of no concern to the sales representative.
Solutions:
Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: D |
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