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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

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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Question 2

A buyer client is discussing zoning bylaws of the municipality in relation to an industrial development site with their salesperson. Which of the following is NOT a correct statement with respect to zoning bylaws?

Options:

A.

Zoning bylaws specify the permitted land uses throughout a municipality.

B.

Municipal zoning bylaws overrule all other laws with respect to land uses and issuance ofbuilding permits in Ontario.

C.

New commercial construction and redevelopment must comply with zoning bylaws.

D.

Municipalities have zoning bylaws that divide the city into different land uses or zones.

Question 3

A tenant receives the keys to their new retail space. When the tenant opens the door, they see evidence of a small fire on the walls near the electrical panel. Which of the following is an appropriate recommendation the salesperson could provide to the new tenant?

Options:

A.

Meet with the property manager, review the lease, and determine a course of action.

B.

Repair the damage and deduct the cost from the rent.

C.

Contact a lawyer and immediately start a legal action for damages.

D.

Terminate the lease and start looking for a new space.

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