Exam Name: Exam 4: Invigilated Theory Exam
Certification Provider: Humber College
Corresponding Certification: RESP Pre-Registration Phase
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Humber College PREX-1060A Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Financial Analysis | - Business Financial Review
|
| Property Development and Land Use | - Taxation and Regulatory Considerations
|
| Commercial Property Transactions | - Commercial Property Sales
|
| Commercial Property Types | - Retail and Office Properties
|
Humber College Exam 4: Invigilated Theory Sample Questions:
A salesperson is drafting an agreement to lease a retail property for a tenant client who is looking to open a women's apparel store. Which of the following would NOT be included in the agreement to lease?
- A. The commencement date of the lease
- B. The names of all the tenant's suppliers
- C. A description of the premises
- D. The names of all parties to the lease
A seller provides you with architectural drawings of their building. Which statement is NOT correct?
- A. If changes are made to source documents, they are still valid if you have the original document.
- B. A photocopy of a source document can be used to verify information.
- C. Architectural drawings are source documents.
- D. Other types of source documents include surveys and tax records.
There are three primary items that require attention when countering an offer from a seller. Which of the following items does NOT need to be checked?
- A. The date of the agreement of purchase and sale
- B. The purchase price
- C. The balance due clause
- D. The irrevocability clause
Obtaining the size and boundaries of a commercial condominium unit is an important task for a salesperson.
Which of the following statements regarding this task is NOT correct?
- A. An Ontario Land Surveyor can be hired to measure the space.
- B. An architect can be hired to measure the space.
- C. The original plans should be used to determine the size of a unit.
- D. Space should be measured in accordance with BOMA standards.
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. Repair the damage and deduct the cost from the rent.
- B. Meet with the property manager, review the lease, and determine a course of action.
- C. Contact a lawyer and immediately start a legal action for damages.
- D. Terminate the lease and start looking for a new space.
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