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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q77-Q82):

NEW QUESTION # 77
A buyer should consider the record of site condition (RSC) document when purchasing a commercial property. Which of the following statements regarding an RSC is correct?

A. It contains records pertaining to a property's financial condition.
B. Requesting an RSC is mandatory in all real estate transactions.
C. It is not a material fact; thus, it is a formality for the buyer to get it.
D. With other documents, it will inform the buyer of any legal issues attached to the title.

Answer: D

NEW QUESTION # 78
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. Other types of source documents include surveys and tax records.
C. A photocopy of a source document can be used to verify information.
D. Architectural drawings are source documents.

Answer: A

NEW QUESTION # 79
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. A description of the premises
C. The names of all the tenant's suppliers
D. The names of all parties to the lease

Answer: C

NEW QUESTION # 80
A salesperson is helping a buyer identify their needs and property requirements to select an appropriate office property and they are discussing the office layout. Which of the following is NOTa layout consideration?

A. Boardrooms, private offices, and workstations
B. Storage
C. Fitting rooms
D. Kitchens/lunchrooms

Answer: C

NEW QUESTION # 81
A salesperson is representing a tenant client who is opening a new pet food store in a local strip plaza. The salesperson meets with their tenant to discuss display signage and review the guidelines in their commercial lease agreement. Which statement is NOT accurate regarding the commercial lease agreement's signage clause?

A. The tenant's signage must be approved by the municipality and the landlord, and all associated costs shall be paid by the landlord.
B. The tenant's signage is considered a trade fixture and shall remain the tenant's property.
C. The tenant's signage, from approvals to installation and ongoing maintenance, shall be at thetenant's own expense.
D. The tenant's signage shall be immediately removed at the end of their lease term(s) at the tenant's expense.

Answer: A

NEW QUESTION # 82
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