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/
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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