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Humber College Exam 4: Invigilated Theory Sample Questions:

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

2. A salesperson is helping a buyer client to purchase a piece of vacant land to develop in the future. The salesperson recommends that the buyer consult with a third-party professional because the salesperson cannot provide the service with reasonable knowledge, skill, judgment, and competence. Which of the following is NOT a professional the salesperson would likely recommend to the buyer?

A) An appraiser with Accredited Appraiser Canadian Institute (AACI) designation
B) A legal consultant who specializes in evicting residential tenants
C) A consultant in a financial institution
D) A zoning specialist in the city's planning department

3. Which of the following statements about industrial building components is correct?

A) Floor load refers to the weight of the building during construction.
B) Flat roofs are designed to be flat to hold water.
C) Loading docks are only used to off-load products or raw materials.
D) Bay depth is an important consideration when determining the layout of an industrial process.

4. All of the following aspects of a commercial property may affect its eligibility for Leadership in Energy and Environmental Design (LEED) certification, EXCEPT:

A) Vacancy rate
B) Sustainability
C) Energy efficiency
D) Innovative elements

5. A tenant receives the keys to their new retail space. When the tenant opens the door, they see evidence of a small fire on the walls near the electrical panel. Which of the following is an appropriate recommendation the salesperson could provide to the new tenant?

A) Meet with the property manager, review the lease, and determine a course of action.
B) Repair the damage and deduct the cost from the rent.
C) Contact a lawyer and immediately start a legal action for damages.
D) Terminate the lease and start looking for a new space.

Solutions: