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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

Question 1

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?

Options:

A.

A description of the premises

B.

The names of all the tenant's suppliers

C.

The commencement date of the lease

D.

The names of all parties to the lease

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Question 2

A new commercial condominium project is completed, and the buyers are given an occupancy date. On the occupancy date, a few of the buyers move into their units and begin setting up their operations. That evening, there is a severe thunderstorm. In the morning, several of the buyers start to notice roof leaks. Some of the buyers call the builder's office while others call their salespersons.Which of the following is an accurate statement regarding the building's warranty coverage?

Options:

A.

If the builder does not address this issue, the buyers can file a complaint with the provincial warranty authority for any outstanding work the builder did not complete.

B.

The buyers should submit their concerns to the provincial warranty authority, as they are entitled to one-year warranty coverage from the occupancy date.

C.

There is no provincial warranty coverage for commercial condominiums, but the buyers can inquire with the builder about any warranties that they may offer.

D.

The buyers should draft a list of all their concerns and submit them to the municipality for appropriate coverage.

Question 3

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