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Humber College PREX-1060A Exam Syllabus Topics:

Humber College Exam 4: Invigilated Theory Sample Questions:

1. Which of the following is most likely to be a factor in an appraisal for an industrial property?

A) Proximity to museums and historical sites
B) Amount of advertising and publicity
C) Price trend for detached homes in nearby neighborhoods
D) Access to raw materials used in the region

2. A developer has completed the construction of a new commercial condominium project that is readyfor occupancy by the buyers. The condominium should be registered within approximately six months. Which of the following accurately describes a responsibility of the developer?

A) The developer will be responsible for registering the declaration and description and creating the plan and vision for the property.
B) The developer will be responsible for much of the day-to-day management of the condominium corporation's affairs after the turnover meeting.
C) The developer will be responsible for overseeing the business affairs of the condominium corporation after the turnover meeting.
D) The developer will be responsible for calling a general meeting within 21 days to appoint a new board of directors.

3. A salesperson has several obligations to the buyer when assisting them in the purchase of a commercial condominium unit for their own use. Which of the following is one of those obligations?

A) Ensure the buyer had the opportunity to fully inspect the financial statements of both the condominium and the seller's business
B) Confirm the buyer's intended use adheres to all municipal zoning requirements
C) Advise the buyer to commission a Phase 3 Environmental Site Assessment in addition to their inspection
D) Review all documentation and advise the buyer regarding the financial status of the condominium corporation, including the reserve fund

4. A tenant is interested in leasing a property; however, the tenant would like to make improvements to the property. Which of the following statements about tenant improvements is correct?

A) Unless indicated in the lease agreement, improvements attached to the leased building generally become the tenant's property upon vacating the premises.
B) The tenant takes the premises in an "as is" condition and can complete whatever improvements they wish without landlord approval.
C) In a lease agreement, the tenant provides a list of improvements to the landlord and the landlord always pays for these improvements.
D) The landlord may offer a "tenant improvement allowance" which provides funds to cover thecosts of tenant improvements.

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

Solutions: