Humber Polytechnic (RECO-approved)
Humber Course 4 Exam Practice Questions
Exam 4: Commercial Real Estate Transactions
Course 4 covers listing, selling and leasing office, retail, industrial and agricultural property, commercial condominiums, development land and the sale of a business. Exam 4 is a three-hour invigilated theory exam.
86 questions in our bank are tagged to this exam.
Original learning scenario for this course
Independent practice with an explanation and course review link. This is not an official exam item, full mock, approved education or registration result.
A simplified commercial study exercise supplies annual NOI of CAD100,000 and a capitalization rate of8%. Using value=NOI/rate, what result follows?
- CAD800,000
- CAD12,500
- CAD1,250,000
Preparing answer controls…
Humber Course 4 Exam at a Glance
Reference source: RECO Learner Exam Handbook v1.2 December 2025 — common Ontario assessments, checked 2026-10-13. Exam format/fee and result reporting from the current linked RECO handbook; tuition must be confirmed separately. Study topics and samples are independent, not approved course delivery.
| Exam length / questions | 3 hours / 115 multiple-choice questions |
| Exam administrator | Meazure Learning — in-person or online-proctored booking |
| Exam attempt fee | CAD120 in linked RECO handbook; confirm current billing |
| Provider tuition | Confirm current provider quote; older Humber prices not reverified |
| Result reporting | Pass/fail; no numeric passing threshold inferred |
Study-topic map — confirm the current official outline
- 1.Introducing Commercial Real Estate
- 2.Understanding Commercial Construction
- 3.Identifying Requirements for Office and Retail Properties
- 4.Preparing to Sell Office and Retail Properties
- 5.Preparing to Sell Commercial Condominiums
- 6.Identifying Requirements for Industrial Properties
- 7.Preparing to Sell Industrial Properties
- 8.Viewing Office, Retail, or Industrial Properties with your Client
- 9.Completing Agreements of Purchase and Sale for Office and Retail Properties
- 10.Completing Agreements of Purchase and Sale for Commercial Condominiums
- 11.Completing Agreements of Purchase and Sale for Industrial Properties
- 12.Preparing to Lease Office, Retail and Industrial Properties
- 13.Transactions Involving Commercial Leasing
- 14.Transactions Involving Development Land and Farms
- 15.Transactions Involving Brokering the Sale of a Business
Practice questions for this exam
What type of commercial property would most likely use a percentage lease structure?
Commercial
A retail tenant's lease sets base rent at $25 per square foot, rising 3% each year after the first, plus percentage rent of 6% of gross sales over $500,000. The tenant occupies 2,000 square feet and has $800,000 in sales in the first lease year. What is the total rent for the first year?
Commercial
Under TRESA in Ontario, what must a salesperson do before providing services to a prospective seller of a commercial property?
Commercial
Under RECO regulations in Ontario, what is required when a registrant discovers a material latent defect in a commercial property during the listing period?
Commercial
A buyer pays $2,000,000 for a commercial property in Toronto. Counting both Ontario Land Transfer Tax and Toronto's Municipal Land Transfer Tax, what is the combined tax as a percentage of the price?
Commercial
A buyer is purchasing a commercial property in Ontario. Compared with the Registry system, what protection does the Land Titles system give the buyer?
Commercial
A commercial property generates $120,000 in annual rental income with operating expenses of $35,000. If the property was purchased for $850,000, what is the capitalization rate?
Commercial
An investor is analyzing two similar commercial properties: Property A has an NOI of $95,000 and asks $1,100,000; Property B has an NOI of $78,000 and asks $900,000. Assuming similar risk profiles, which represents the better investment opportunity based on cap rates?
Commercial
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Frequently Asked Questions
How long is Humber Exam 4?
RECO’s current linked handbook lists Exam 4 as 3 hours with 115 multiple-choice questions. Meazure Learning administers the common assessment for approved-provider learners; confirm your actual booking and accommodation conditions.
How much does Humber Exam 4 cost?
The linked RECO handbook lists CAD120 for one exam attempt. Provider tuition, retakes, registration and other charges are separate; confirm current billing with the responsible provider.
How many questions are on Humber Exam 4, and what is the pass mark?
The RECO handbook lists 115 questions for Exam 4. Results are reported as pass/fail without a numeric score; no numerical passing threshold is inferred from a website practice benchmark.