Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

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What is the correct strategy for Investor Sam seeking mortgage funds for a commercial property?

Prefer a trust company over a chartered bank for flexibility
Avoid private investors due to restrictive regulations
Look to pension funds as the primary source
Seek insurance companies that specialize in commercial loans
Credit unions are unsuitable for commercial loans
Life insurance companies do not provide mortgage financing

The correct answer is: Prefer a trust company over a chartered bank for flexibility

Investor Sam seeking mortgage funds for a commercial property should prefer a trust company over a chartered bank for flexibility. Trust companies often offer more flexibility in terms of lending criteria and can be a good option for investors looking for customized financing solutions for commercial properties. Chartered banks, on the other hand, may have stricter guidelines and may not be as flexible when it comes to commercial lending. The other options are incorrect because private investors, pension funds, insurance companies specializing in commercial loans, credit unions, and life insurance companies may not always be the most suitable or common sources of mortgage funds for a commercial property. Trust companies, on the other hand, are known for their flexibility and customized lending options, making them a good choice for Investor Sam in this scenario.