Humber College Exam 4: Invigilated Theory : PREX-1060A

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Humber College PREX-1060A Exam Syllabus Topics:

Humber College Exam 4: Invigilated Theory Sample Questions:

1. A salesperson negotiates the purchase of a retail property for their client, who plans to open a new store at this location. The client asks the salesperson how many parking spots the property will be required to have to meet the zoning requirements. The salesperson replies that the municipality has zoning requirements that set the minimum parking ratio. How will the municipality calculate the parking ratio?

A) The municipality will take the number of available parking spaces and divide it by the projected number of monthly visitors.
B) The municipality will take the number of available parking spaces and divide it by the property's net leasable area.
C) The municipality will take the property's gross leasable area and divide it by the number of available parking spaces.
D) The municipality will take the number of available parking spaces and divide it by the property's gross leasable area.

2. Different clauses can be used for each transaction to address the unique needs of buyers and sellers. Which of the following may be used in an agreement of purchase and sale to buy a commercial property?

A) A clause for the buyer to review the leases only after all conditions have been waived and accepted
B) A clause for the seller to disclose all information verbally without providing supporting documents to verify that information; documents to be provided on closing
C) A clause to confirm the remuneration payable to the brokerages will be as stated in the seller representation agreement
D) A clause for the buyer to have the right to negotiate for specialized restaurant equipment that is not included in the property purchase price

3. Which of the following statements regarding Building Owners and Managers Association (BOMA) standards is correct?

A) The BOMA standards provide procedures to measure rentable areas only.
B) The BOMA standards provide methods of measuring industrial buildings only.
C) The BOMA standards provide methods of measuring office buildings only.
D) The BOMA standards are complex.

4. Established under the Farming and Food Production Protection Act, the Normal Farm PracticesBoard is composed of members appointed by the Minister of Agriculture, Food and Rural Affairs. Which statement is NOT accurate with regard to the Normal Farm Practices Board?

A) The Board can order farmers to cease practices that cause disturbances if they are not considered to be normal farm practices.
B) The Board can order farmers to modify practices for consistency with normal farm practices.
C) The Board can conduct hearings that are heard by a minimum of five board members.
D) The Board can dismiss complaints if the disturbances are the result of normal farm practices.

5. A salesperson is negotiating a lease for a new retail tenant and reviewing the requirements and restrictions regarding the delivery of stock items. Which of the following is NOT a correct statement regarding stock delivery requirements and restrictions in a commercial lease?

A) The salesperson is responsible for negotiating the tenant's stock delivery window.
B) The salesperson is responsible for addressing site access and exit in the tenant's agreement to lease.
C) Stock delivery cannot be restricted in a commercial agreement to lease.
D) Should a delivery truck arrive during an emergency, the property manager must be available.

Solutions: