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Free PDF Quiz Humber College - PREX-1060A - Reliable Latest Exam 4: Invigilated Theory Exam Dumps Sheet

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q97-Q102):

NEW QUESTION # 97
An agreement of purchase and sale for an industrial building is accepted conditional on financing with the expiry date of May 14. On May 11, the bank informs the buyer the mortgage cannot be approved until May
17. The salesperson for the buyer then prepares an amendment to the agreement of purchase and sale for the extension of the condition. Which of the following is NOT correct?

A. The buyer can still waive the condition before the expiry date if the seller refuses to sign the amendment, provided there is a waiver provision in the condition.
B. To play it safe, the salesperson should amend the condition with May 18 as the expiry date.
C. The buyer can use the same amendment to ask for a change of the closing date.
D. The salesperson should prepare the amendment with midnight, May 17 as the irrevocable time.

Answer: D

NEW QUESTION # 98
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 one notice of fulfillment
B. Serving one waiver
C. Serving separate notices of fulfillment
D. Serving separate waivers

Answer: C

NEW QUESTION # 99
Finish the sentence: When a commercial tenant enters an agreement to lease, the covenant to pay rent specifies that the tenant:

A. Agrees to pay additional rent for a gross lease.
B. Cannot pay rent to the property manager and must pay directly to the property owner.
C. Cannot withhold rental payments even if the landlord does not comply with their obligations under the lease.
D. Agrees to pay any percentage rent a landlord demands, regardless of sales revenue.

Answer: C

NEW QUESTION # 100
Different clauses can be used for each transaction to address the unique needs of buyers and sellers. Which of the following may be used in an agreement of purchase and sale to buy a commercial property?

A. A clause for the seller to disclose all information verbally without providing supporting documents to verify that information; documents to be provided on closing
B. A clause to confirm the remuneration payable to the brokerages will be as stated in the seller representation agreement
C. A clause for the buyer to have the right to negotiate for specialized restaurant equipment that is not included in the property purchase price
D. A clause for the buyer to review the leases only after all conditions have been waived and accepted

Answer: C

NEW QUESTION # 101
All of the following aspects of a commercial property may affect its eligibility for Leadership in Energy and Environmental Design (LEED) certification, EXCEPT:

A. Energy efficiency
B. Sustainability
C. Vacancy rate
D. Innovative elements

Answer: C

NEW QUESTION # 102
......

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