Humber/Ontario Real Estate Course 4 Exam Practice

What do the Residential Living Area Measurement guidelines by the Appraisal Institute of Canada (AIC) apply to?

1. Internal measurements.

2. New standard used throughout Ontario.

3. Exclude main floor additions in one-storey homes.

4. Apply to both one storey and one and one-half storey homes.

5. Apply to multi-story apartment buildings.

The correct answer is: Apply to both one storey and one and one-half storey homes.

The correct answer focuses on the applicability of the Residential Living Area Measurement guidelines by the Appraisal Institute of Canada (AIC) to both one storey and one and one-half storey homes. These guidelines provide a standardized approach to measuring living areas, ensuring consistency and clarity in real estate assessments. These guidelines consider the unique architectural features and layout of one and one-half storey homes, where the second level may not have the same floor area as the first but still contributes to the overall livable space. The inclusion of both home types in the measurement guidelines allows for accurate comparisons and valuations in the residential real estate market. The other options, while potentially relevant to aspects of home measurement or specific nuances, do not encapsulate the broad applicability of the guidelines in the context of different home styles as effectively as this answer.