Humber College Exam 4: Invigilated Theory : PREX-1060A exam

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Humber College PREX-1060A Exam Syllabus Topics:

Humber College Exam 4: Invigilated Theory Sample Questions:

Question 1

A salesperson is helping a buyer identify their needs and property requirements to select an appropriate office property and they are discussing the office layout. Which of the following is NOTa layout consideration?

A. Fitting rooms
B. Storage
C. Boardrooms, private offices, and workstations
D. Kitchens/lunchrooms

Question 2

Sometimes, transactions do not close. When a transaction won't be completed, what should a salesperson try to do as soon as possible?

A. Terminate the transaction and disengage from it.
B. Pass the transaction to the broker of record so that the broker will take care of it.
C. Conduct an analysis of why the transaction will not be carried out.
D. Obtain the remuneration owed.

Question 3

A salesperson is representing a commercial tenant client who is interested in leasing a property for their business. The salesperson and their client are inspecting a property that includes a few accessory buildings.
This is ideal for the tenant, as the accessory buildings can serve as storage for their business. The tenant asks their salesperson to find out the measurements of the accessory buildings. Why is it important for the tenant to know the total area of the accessory buildings included on the property?

A. It is important for the tenant to know the total area of the accessory buildings as they will have to share the use of them with other tenants.
B. It is important for the tenant to know the total area of the accessory buildings as it will contribute to their rentable area.
C. It is important for the tenant to know the total area of the accessory buildings as it will be deducted from their rentable area.
D. It is important for the tenant to know the total area of the accessory buildings as it will be considered within the tenant's usable area.

Question 4

Which of the following is NOT relevant information a salesperson must verify when representing a landlord who is planning to lease their industrial property?

A. The salesperson must verify whether the tenant's intended use for the industrial property is permitted under the zoning bylaw.
B. The salesperson must verify the rates and terms of lease for the property.
C. The salesperson must verify the zoning information for the industrial property.
D. The salesperson must verify the previous tenant's lease rates and terms.

Question 5

When a farm is sold, there are exemptions to the payment of harmonized sales tax (HST). In which of the following circumstances is a farmer responsible to pay HST to the Canada Revenue Agency (CRA)?

A. The farmer sells the farm to a relative.
B. The farm is sold to a corporation and the HST is included in the selling price.
C. The farmer uses a smaller portion of the farm for a residence.
D. The farm has been used for personal use.

Solutions: