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Humber College Exam 4: Invigilated Theory Sample Questions:

1. A retail property buyer must consider the parking requirements associated with the site. All of the statements below are considerations for parking, EXCEPT:

A) Parking may be impacted by the municipality's parking bylaw.
B) Parking may be impacted by zoning requirements.
C) There may be minimum width and depth requirements for parking spaces.
D) Required parking for persons with disabilities is usually fixed as a ratio based on the number of disabled persons in the community.

2. A salesperson is preparing to list an industrial building and wants to assess the availability and size of utilities, as these factors may prohibit a change in use for the potential buyer. Which of the following is correct?

A) The seller may have up-to-date documentation about the utilities but, in some situations, a third-party professional assessment is still needed.
B) The salesperson should conduct a visual inspection of the building to determine the specifications of the utilities.
C) If the information on the subject building's utilities is available, then a potential buyer will not put a condition in the offer.
D) If the information on the building's utilities is not available, the salesperson can determine it by finding out the specifications of the utilities of the neighbors.

3. A salesperson is drafting an offer and discussing with the buyer the steps required for due diligencewhen purchasing a commercial condominium unit. All of the steps below are included in due diligence, EXCEPT:

A) Identify third-party professionals
B) Gather, organize, and verify all pertinent information
C) Estimate time frames required for due diligence and other offer conditions
D) Create a business plan

4. 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

5. 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

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