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Humber Real Estate Course 4 Commercial: WHAT YOU NEED TO KNOW

Course 4 Exam Overview


This section provides an overview of what to expect on the Course 4 exam, including the structure, question format, and passing requirements.

  • Course 4 exam is 115 multiple-choice questions

  • Same format as Course 2 and Course 3 exams

  • 3 hours to complete the entire exam

  • Can be taken online or live, but check for any changes

  • Need to score 75+ to pass

  • Can get 28 questions wrong and still pass with an 87 out of 115 (76% passing mark)

  • Course 4 has 15 modules, but there is some repetition in modules 9, 10, and 11

  • Total hours for the course may be deceptive due to the repetition


Get Your Humber College Real Estate Course 4 Exam Questions Study Materials Here: https://www.humberrealestate.net/


Humber Real Estate Course 4 Commercial
Humber Real Estate Course 4 Commercial

Types of Commercial Properties

This section provides a brief overview of the three main types of commercial properties.

  • Retail

  • Office

  • Industrial

  • For more in-depth information on these property types, refer to the previous video on Course 4

Humber Real Estate Course 4 Commercial

This section provides examples of the types of questions you can expect to see on the Course 4 exam.

  • Two good examples of the types of questions on the exam# Passing the Exam



Commercial Condominiums

  • One example of a question on the exam will be about commercial condominiums

  • This topic is covered in Module 5, so students should read up on it

  • Another question will be on financial reports, which many students struggle with

  • Many students are just trying to get through the course to get licensed, even if they don’t plan on doing commercial real estate

  • For those who do plan on working in commercial real estate, this is an amazing opportunity

  • The goal is to get those extra key marks on the exam, Humber Real Estate Course 4 Commercial

  • There are certain techniques and tricks the instructor uses on every single exam question

  • The first step is to take a deep breath and start reading the question carefully

  • Question: What best describes a mixed-use condominium?

  • A. A unit that is typically part of a larger condominium building or complex, where the owner may share common spaces with other unit owners such as washrooms, conference rooms, and media rooms.

  • B. A unit located in a strip mall or a multi-use development, where the owner will share common space with other owners such as washrooms, public walkways, and

  • The instructor would choose option A because it involves common spaces like conference rooms, which suggests more of an office building setting rather than a retail strip mall.Retail Condominium vs. Mixed-Use Condominium

A retail condominium is a type of commercial real estate where individual units are owned by different businesses, similar to a retail strip mall. In contrast, a mixed-use condominium is a building that contains both residential and commercial (retail) units, often with the commercial units on the ground floor.

  • Retail Condominium:

  • Individually owned commercial units, like a strip mall

  • Owned by a corporation and leased to retail tenants

  • Owned by individual businesses

  • Mixed-Use Condominium:

  • Contains both residential and commercial (retail) units

  • Commercial units typically on the ground floor

  • Can include light manufacturing, storage, or warehousing


Preparing to Sell a Business

The greatest challenge when preparing to sell a business is gathering and presenting the financial reports and associated information. As a listing sales person, you would need to ask the seller specific questions, but there are some questions you would typically not ask.

  • Questions you would ask the seller:

  • Is the business operated from leased premises or do you own the real property?

  • Questions you would not typically ask:

  • This is the one incorrect answer you are looking forAvoiding Overthinking Answers

  • Sometimes an obvious answer can be the correct one

  • Don’t overthink it, leave the cursor hovered over the possible answer for now

Identifying Relevant Financial Information

  • Current financial statements are something that would definitely be asked for

  • Prior financial statements may also be requested

Comparable Business Financial Statements

  • Financial statements of comparable businesses for the last 3-5 years is not a plausible request

  • Financial reports of the seller’s own business for the last 3-5 years would be more relevant

Listing Included/Excluded Items

  • Providing a list of channels and fixtures to be included and excluded in the sale is something that would be asked

Reviewing the Question Carefully

  • Read the last part of the question again to ensure the answer makes sense

  • Financial statements of comparable businesses is not a typical question to ask the seller

Focusing on Relevant Questions

  • Questions about prior financial statements of comparable businesses are not something that would be asked

  • Focus on answering the relevant questions and move on

Preparing for Exams

  • 70% of the questions on Course 4 may not have been covered in the course material

  • Be prepared for unexpected questions on the exam

Applying Lessons Learned

  • The lessons learned from Course 4 can be applied to future courses and examsExam Preparation Strategies

  • Expect at least 50% of the questions to be “not questions”

  • Completed an “Exam Master Mini Course” for Course 4

  • Covers the fundamentals, tips, and tricks to pass every exam on the first try

  • Covers 30+ questions of the 4 types of questions you’ll see on the Course 4 exam:

  • High percentage not questions

  • Tricky worded questions

  • Math questions

  • Need to come in more prepared than before, as it’s too expensive to fail these exams over and over

  • Requests for one-on-one tutoring are common, but not the most practical way to learn

  • Expensive for the student

  • Difficult to retain a ton of information in a single session

  • Prefer to learn through organized video content covering fundamentals and walking through a ton of practice questions specific to the course

  • Can continue watching the channel for free content for life


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