Free Humber College PREX-1060A Exam Questions
Try our Free Demo Practice Tests for Comprehensive PREX-1060A Exam Preparation
-
Humber College PREX-1060A Exam Questions
-
Provided By: Humber College
- Exam: Exam 4: Invigilated Theory Exam
- Certification: RESP Pre-Registration Phase
-
Total Questions: 122
-
Updated On: Jun 06, 2025
-
Rated: 4.9 |
-
Online Users: 244
-
Question 1
-
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?
Answer: B
-
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?
-
Question 2
-
When discussing the sale of a business and establishing the asking price, there are questions a salesperson
must ask the owner. Which of the following is one of them?
Answer: D
-
When discussing the sale of a business and establishing the asking price, there are questions a salesperson
must ask the owner. Which of the following is one of them?
-
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:
Answer: C
-
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:
-
Question 4
-
A salesperson is representing a tenant client who is opening a new pet food store in a local strip plaza. The
salesperson meets with their tenant to discuss display signage and review the guidelines in their commercial
lease agreement. Which statement is NOT accurate regarding the commercial lease agreement's signage
clause?
Answer: A
-
A salesperson is representing a tenant client who is opening a new pet food store in a local strip plaza. The
salesperson meets with their tenant to discuss display signage and review the guidelines in their commercial
lease agreement. Which statement is NOT accurate regarding the commercial lease agreement's signage
clause?
-
Question 5
-
A salesperson includes a well-drafted condition in an agreement of purchase and sale for their buyer client to
arrange a new first mortgage for an industrial property. The buyer later changes their mind and does not want
to borrow money for the purchase. What should the buyer's salesperson use to remove the condition?
Answer: D
-
A salesperson includes a well-drafted condition in an agreement of purchase and sale for their buyer client to
arrange a new first mortgage for an industrial property. The buyer later changes their mind and does not want
to borrow money for the purchase. What should the buyer's salesperson use to remove the condition?