Course 1, Module 7, All Lessons Flashcards
Ali is a salesperson with a leading brokerage in the city. Among his various responsibilities, Ali also needs to make telemarketing calls to find leads for a condominium unit. Ali has identified some prospects and needs to verify if it is legal to make calls to these prospects.
*Select all he should call.
A) Satbir had called the brokerage about four months earlier because he wanted to buy a unit in a condo. Later, Satbir decided against buying the property. His name is on the National DNCL but not the internal.
B) Ana has posted a request on FB wall seeking a suitable two-bedroom house available around the Lake region. Ana’s name appears on the Nation DNCL.
C) Gemma is looking for buyers for her shop. Gemma’s name isn’t on the National DNCL but her name appears on the internal one that was updated 6 months earlier.
D) Alex bought a property for investment purposes through the brokerage two years earlier. Ali thinks Alex might be interested in this condo unit. Alex’s name is on the National DNCL but not the internal one.
A
Tisca is a newly registered salesperson with a brokerage that has been engaged to find appropriate buyers for an upcoming real estate project. She is responsible for generating leads for the project. She identifies some actions to generate the leads using commercial electronic messages (CEMs).
Which of the following actions would be a violation of Canada’s Anti-Spam Legislation (CASL)?
A) Send details of the project to individuals that the brokerage engaged with in the past five years.
B) Post details of the project on her Facebook wall.
C) Write a blog on the booming real estate market and add a link to the property on the blog.
D) Write a blog on the booming real estate market and send an email to all people who read the blog.
A, D.
Ana often receives queries from the sellers she is representing related to their tax obligations. While she directs the sellers to experts on tax-related matters, she wants to build her understanding on situations that may be subject to capital gains tax.
I which of the following situations could the seller be liable to pay capital gains tax?
A) Akash and Saritha moved to Ontario in the early 1990s and purchased a home as joint owners. They are relocating to India and want to sell their residence in Ontario.
B) Kristy inherited a house from her grandfather a few years ago. She has been renting the house but now wants to sell it.
C) Maya lives in the US for most of the year and visits Ontario once every six months. When in Ontario, she stays in the vacation home that she built years ago. Maya now wants to sell her vacation home.
D) Sharad relocated to Ontario from the UK 3 years ago. He bough a 1 bdr condo unit and moved into it two years ago. He now wants to sell this unit and purchase a larger one.
B, C
Harry is looking for a site to build a commercial retail plaza. Laura, Harry’s salesperson, finds a site that seems appropriate and meets Harry’s requirements. Laura finds out that the land was previously used as a gas station a few years ago, and there is a high likelihood of environmental contamination on the site. Harry is keen to invest in the property and seeks advice from Laura on how to deal with this issue.
Laura refers Harry to an environmental site auditor who advises Harry to get a Phase 2 environmental site assessment.
What benefits would a Phase 2 environmental site assessment provide that cannot be achieved by a Phase 1 environmental site assessment?
*Choose the correct choice.
A) Provide visual evidence of actual or potential contamination
B) Understand the extent of environmental contamination
C) Identify the cost and strategies for managing risks related to environmental contamination
D) Identify methods to remove instances of environmental contamination from the site
B.
While A could be correct, they are focusing on the fact that phase 2 does actually testing.
Joe has an underground fuel storage tank on his property. A friend has told him about issues related to underground fuel storage tanks. Joe wants to know about the steps to take if an oil spill is suspected from the tank on his property.
What would be the appropriate steps for Joe to take if he suspects there is an oil spill on his property?
*Select all of those which are appropriate.
A) Get a TSSA-registered contractor to investigate and fix the issue.
B) Engage an accredited environment consultant to do a Phase 3 environmental site assessment.
C) Inform the Spills Action Centre of the Ministry of the Environment.
A). The key would here is “SUSPECTED”. There is no need for Phase 3 (Remediation) or to notify the Spills Action Centre if it turns out the suspicion was false.
Sandra wants to buy land and build recreational properties in a rural area. A friend recommends that she should be careful not to invest in land found in the greenbelt area of Ontario.
Which Properties fall in the Greenbelt protected areas?
A) Oak Ridges Moraine
B) The Blue Mountains
C) City of Kawartha Lakes
D) Niagara Escarpment
A, C, D
A buyer has purchased a farmhouse that has some trees where birds belonging to an at-risk species have built nests. The buyer plans to cut some of these trees and use the cleared area to build a kennel for his dogs.
In which cases would restrictions related to the Endangered Species Act apply?
A) If the birds belong to the species of special concern category
B) If the birds belong to the threatened species category
C) If the birds belong to the category of species that no longer exist
D) If the birds belong to the endangered species category
B, D - “Species of Special Concern” doesn’t mean much..
A buyer is looking for a property that has a low carbon footprint and is environmentally friendly.
What are the features that a salesperson should consider when looking for appropriate properties?
*Select all that are appropriate.
A) Includes ENERGY STAR rated appliances
B) Comprises low-flow equipment in bathrooms
C) Comprises solar-assisted heating and cooling systems
D) Comprises electrical appliances that have an EnerGuide label
A, B, C
A sales person involved in the marketing and sale of new homes must have an awareness of the warranty coverage applicable to the property under consideration so they can respond to queries from prospective buyers and homeowners. Review the situations provided here and answer the following questions.
Which of the following would be eligible for warranty coverage under the Ontario New Home Warranties Plan?
Select all that are eligible.
A) Smith bought a small seasonal cottage constructed by a local builder
B) Hartfield bought a house in a residential subdivision from a new home builder and leased it to an IT professional for 2 years
C) Philippe inherited a condo unit from his mother, Stephanie, who passed away within two years of purchasing the unit in a new condo building
B, C - Warranty runs for 3 years and runs with the unit not the resident.
A buyer is considering purchasing a two-storey house with parking within the basement area. The house has been unoccupied for the past three years. The house has copper wiring. The seller reports that minor flooding happens in the basement during spring. The buyer plans to rent the house as a single-family dwelling after doing some renovations.
What change should the salesperson suggest the buyer make before renting the house?
*Select the correct answer.
A) Change the wiring of the house from copper to aluminum
B) Install a sump pump in the basement
C) Install a skylight
B (copper wiring is the one you want…)
