Humber/Ontario Real Estate Course 2 Exam Practice

If a survey of the property is to be attached to the agreement of purchase and sale, how is it designated?

1. It would be designated as Schedule 1, the first added schedule.

2. It does not require the buyer's and seller's initials for it to be attached.

3. It would be designated as Schedule B if it’s the only additional schedule.

4. It cannot be attached as it does not meet prescribed standards.

5. It should be added as Schedule A.

6. It must be referenced in the main agreement only.

The correct answer is: It would be designated as Schedule B if it’s the only additional schedule.

When a survey of the property is to be attached to the agreement of purchase and sale, it is designated as Schedule B if it's the only additional schedule. This indicates that the survey document is an important part of the agreement and distinguishes it from any other schedules that may be included in the agreement. Options A, B, E, and F are incorrect because they do not provide the specific and accurate designation for attaching a survey to the agreement of purchase and sale. Option D is incorrect as well because it falsely states that a survey cannot be attached due to not meeting prescribed standards, which is not typically the case.