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PREX-1060A Exam Dumps : Exam 4: Invigilated Theory Exam

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Exam 4: Invigilated Theory Exam Questions and Answers

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Question 1

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?

Options:

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 shall be immediately removed at the end of their lease term(s) at the tenant’s expense.

D.

The tenant's signage, from approvals to installation and ongoing maintenance, shall be at thetenant's own expense.

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Question 2

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:

Options:

A.

Serving separate waivers

B.

Serving one waiver

C.

Serving separate notices of fulfillment

D.

Serving one notice of fulfillment

Question 3

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

Options:

A.

Agrees to pay additional rent for a gross lease.

B.

Cannot withhold rental payments even if the landlord does not comply with their obligations under the lease.

C.

Agrees to pay any percentage rent a landlord demands, regardless of sales revenue.

D.

Cannot pay rent to the property manager and must pay directly to the property owner.

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