Latest Humber College PREX-1060A PDF and Dumps (2025) Free Exam Questions Answers [Q60-Q74]

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Latest Humber College PREX-1060A PDF and Dumps (2025) Free Exam Questions Answers

Pass Your RESP Pre-Registration Phase PREX-1060A Exam on Jan 29, 2025 with 108 Questions

QUESTION 60
In regard to equipment at an industrial property that is being shown for sale, a salesperson representing a buyer should do all of the following, EXCEPT:

Contact the seller’s representative prior to the showing to gain awareness of safety and compliance requirements.

Ensure they are informed as to whether the equipment shown will be relevant for the buyer’s intended use.

Ensure chattels or fixtures are not included in the sale or negotiated for in the agreement.

Obtain clarification as to which equipment seen during the showing will be included in the purchase price of the property.

QUESTION 61
A landlord and a tenant have signed an agreement to lease an office space. Prior to the transaction closing, an unforeseeable event occurs that is not the fault of either party. Which statement about the return of the tenant’s deposit is NOT correct?

The agreement may contain a clause forfeiting all of the deposit if the landlord has started work on the premises.

The parties may need to obtain a court order that clarifies how the deposit will be returned and distributed.

The tenant can have the deposit back without signing a mutual release as it is not their fault.

The landlord and tenant may agree to split the deposit.

QUESTION 62
A salesperson must ensure that a buyer client is aware of all revenue sources and expenses related to the property they are interested in purchasing. Which of the following is an accurate statement regarding potential revenue sources for a commercial property?

Every commercial property, whether an office building, an industrial property, a retail property, or land, has a single source of revenue, which is the base rent.

Shopping centres with more than 150 stores typically have only two types of rental revenues to cover all the operating expenses of the property: base rent and additional rent.

Retail commercial property owners have three types of potential rental income: base rent, additional rent, and percentage rent.

Commercial office owners have only one type of potential rental income, which is percentage rent, as the owner themselves pay for the operating expenses of the property.

QUESTION 63
A salesperson has several obligations to the buyer when assisting them in the purchase of a commercial condominium unit for their own use. Which of the following is one of those obligations?

Confirm the buyer’s intended use adheres to all municipal zoning requirements

Advise the buyer to commission a Phase 3 Environmental Site Assessment in addition to their inspection

Ensure the buyer had the opportunity to fully inspect the financial statements of both the condominium and the seller’s business

Review all documentation and advise the buyer regarding the financial status of the condominium corporation, including the reserve fund

QUESTION 64
A salesperson is assisting both the tenant and the landlord in a commercial property rentaltransaction. Which of the following statements about calculating the remuneration for this transaction is correct?

The tenant may be required to pay the deficiency between the contracted amount in the tenant representation agreement and the amount actually paid by the landlord.

Salespersons are prohibited from indicating directly that remuneration is fixed by any association but can indicate it indirectly.

Remuneration can be calculated based on the difference between the listing price and the actual rental price.

Remuneration can be an agreed amount or a percentage of the rental price, but not a combination of both.

QUESTION 65
Examples of properties which would warrant a Phase 2 environmental assessment may include heavy industrial sites. Which of the following is NOT an example of a heavy industrial use?

Power stations

Petroleum storage and distribution sites

Chemical manufacturers

Computer training institute

QUESTION 66
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?

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.

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.

It is important for the tenant to know the total area of the accessory buildings as it will contribute to their rentable area.

It is important for the tenant to know the total area of the accessory buildings as it will be deducted from their rentable area.

QUESTION 67
A salesperson, who is representing a tenant, has completed a comparative market analysis (CMA) of the management fees charged, assessed on a square footage basis, at the different office buildings that their client is interested in leasing. The management fees vary across the comparable office buildings, and the tenant is interested to know why there is a difference. Which of the following is an accurate statement the salesperson can make about the difference in management fees between the buildings?

The salesperson should tell their client that higher management fees charged for a building always indicates that the tenant is getting superior service and value.

The salesperson should explain that a tenant occupying a smaller rentable area in a building pays higher management fees per square foot compared to a tenant with an average or larger rentable area.

The salesperson should identify the reasons for high management fees charged for a building and determine the relative value it provides.

The salesperson should tell the tenant that the Condominium Authority of Ontario regulates management fees charged by buildings as per their size.

QUESTION 68
A salesperson representing a client who is selling an office property has received some documents from the seller and is trying to organize them. Which of the following documents is NOT needed by the salesperson or seller when selling the property?

Telephone bills

Private mortgage form

Income verification documents

Environmental site assessments

QUESTION 69
Salespersons are required to verify, wherever they can, information provided by landlords, such as zoning details and permitted uses. A salesperson is helping a major landlord to lease out a big retail mall that involves complex matters. Which of the following does NOT need third-party professional advice?

The total area measurements

The maximum floor load of every unit

The number of sprinklers required in every unit

The total remuneration payable for a 20-year lease

QUESTION 70
A salesperson has a buyer client in the metal fabrication industry, which requires outdoor storage and involves substantial noise and smells. The salesperson sees a listing that says “24,000-square-foot light industrial property, multi-uses permitted.” Is this a suitable property for their client? Why or why not?

Yes, the property will be suitable if the client states they will change the zoning to allow their type and classification of business to operate at this location.

Yes, the property is suitable since the client is already in the metal fabrication business, and does not need to get any permits from the municipality prior to moving in and using the property.

Yes, the property is suitable, as the listing says the property is light industrial and multi-uses are permitted.

No, the property is not suitable, as the client’s business type and classification require heavy industrial zoning.

QUESTION 71
A lender completes a financial statement analysis and calculation on various ratios that would indicate the financial performance of the commercial building. Which of the following is NOT correct?

The investor is afforded the opportunity to enhance yield.

The success of ventures often rests in the availability and suitability of financing.

Lenders will apply various financial ratios to get a solid understanding of the business’s performance and the ability of the borrower to service debt.

It does not matter; mortgaging does not affect cash flow and yields.

QUESTION 72
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?

Is there any easement on the property?

Is the ownership of the building a corporation or a partnership?

What is the construction cost of the building?

Is inventory included in the sale of this business?

QUESTION 73
A salesperson is negotiating a lease for a new retail tenant and reviewing the requirements and restrictions regarding the delivery of stock items. Which of the following is NOT a correct statement regarding stock delivery requirements and restrictions in a commercial lease?

The salesperson is responsible for negotiating the tenant’s stock delivery window.

Should a delivery truck arrive during an emergency, the property manager must be available.

Stock delivery cannot be restricted in a commercial agreement to lease.

The salesperson is responsible for addressing site access and exit in the tenant’s agreement to lease.

QUESTION 74
All of the following aspects of a commercial property may affect its eligibility for Leadership in Energy and Environmental Design (LEED) certification, EXCEPT:

Energy efficiency

Innovative elements

Sustainability

Vacancy rate

PREX-1060A Dumps for RESP Pre-Registration Phase Certified Exam Questions and Answer: https://www.prepawaypdf.com/Humber-College/PREX-1060A-practice-exam-dumps.html

Latest Humber College PREX-1060A PDF and Dumps (2025) Free Exam Questions Answers [Q60-Q74]

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