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Humber College Exam 4: Invigilated Theory Sample Questions:

1. Examples of properties which would warrant a Phase 2 environmental assessment may include heavy industrial sites. Which of the following is NOT an example of a heavy industrial use?

A) Computer training institute
B) Petroleum storage and distribution sites
C) Power stations
D) Chemical manufacturers

2. While preparing to list a vacant retail site that allows new auto sales, the salesperson sees that there is an auto repair garage business next door with old and rusting metal storage tanks at the side of their building. Which of the following is the correct action for the salesperson to take?

A) The salesperson should include the information in the marketing material as it would be beneficial for an auto sales business to have a garage located nearby.
B) The salesperson should ask the owner of the garage for more information and what course of action they recommend to assist a future purchaser of the site.
C) The salesperson should attempt to identify signs of contamination on the property and recommend an appropriate third-party expert to the seller client.
D) The salesperson should ask the owner of the garage whether they have thought about selling their property at this time.

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

4. Which of the following statements about economic development offices is NOT correct?

A) Economic development offices can help guide development applications through municipal processes and streamline the approvals process for companies unfamiliar with regulatory requirements.
B) Economic development offices have important resources for those seeking suitable commercial sites for business operations.
C) Economic development offices provide background information on local, provincial, and federal research and development incentives.
D) Economic development offices can provide you with real property information regarding tax assessments and how to appeal your real estate taxes.

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

Solutions: