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Humber College PREX-1060A Exam Syllabus Topics:

Humber College Exam 4: Invigilated Theory Sample Questions:

1. A retail property buyer must consider the parking requirements associated with the site. All of the statements below are considerations for parking, EXCEPT:

A) Parking may be impacted by zoning requirements.
B) Parking may be impacted by the municipality's parking bylaw.
C) Required parking for persons with disabilities is usually fixed as a ratio based on the number of disabled persons in the community.
D) There may be minimum width and depth requirements for parking spaces.

2. 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 dismiss complaints if the disturbances are the result of normal farm practices.
D) The Board can conduct hearings that are heard by a minimum of five board members.

3. What should a salesperson do if they are unable to secure documentation to verify the usable and rentable areas of a property?

A) Use the R/U factor to calculate the figures
B) Use a laser measuring tool to take the measurements
C) Recommend that the landlord obtain the professional services of a measuring company to obtain the figures
D) Use a laser measuring tool to take the measurements and use the R/U factor to calculate the figures

4. An office building is being sold. The agreement of purchase and sale includes multiple conditions that protect the buyer. Each condition has a different expiry date, and they will be fulfilled and completed at different times. The conditions do not have waiver provisions. In this situation, all conditions can be removed by:

A) Serving one waiver
B) Serving one notice of fulfillment
C) Serving separate waivers
D) Serving separate notices of fulfillment

5. Which of the following is a correct statement regarding a design-build arrangement in commercial real estate?

A) A design-build arrangement is commonly associated with a seller's market.
B) A design-build arrangement means the buyer will only buy the property if the landowner builds a building to the buyer's specifications.
C) A design-build arrangement requires the buyer to acquire suitable land and construct a building themselves.
D) A design-build arrangement is a sale/leaseback arrangement.

Solutions: