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Humber College PREX-1060A Exam Syllabus Topics:

Humber College Exam 4: Invigilated Theory Sample Questions:

Question 1

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 addressing site access and exit in the tenant's agreement to lease.
B. The salesperson is responsible for negotiating the tenant's stock delivery window.
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.

Question 2

Issues that occurred prior to the closing of a transaction may be uncovered by title and non-title searches during due diligence. Which of the following is a non-title search concern?

A. The seller is not entitled to transfer title to the property for some reason
B. Liens and encumbrances that are registered against the property
C. A registered right of way that blocks the buyer's intended use of the property
D. The property's use doesn't comply with municipal zoning bylaws

Question 3

A landlord and a tenant have signed an agreement to lease an office space. Prior to the transaction closing, an unforeseeable event occurs that is not the fault of either party. Which statement about the return of the tenant's deposit is NOT correct?

A. The parties may need to obtain a court order that clarifies how the deposit will be returned and distributed.
B. The agreement may contain a clause forfeiting all of the deposit if the landlord has started work on the premises.
C. The landlord and tenant may agree to split the deposit.
D. The tenant can have the deposit back without signing a mutual release as it is not their fault.

Question 4

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

Question 5

Many industrial users install one or more cranes on their properties to move heavy items. Which type of industrial crane has an arm attached at an angle to a rotating mast that permits 360-degree swiveling around that mast?

A. Jib crane
B. Gantry crane
C. Overhead crane
D. Bridge crane

Solutions: