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PREX-1060A practice test questions answers

Humber College PREX-1060A Dumps Questions Answers

Exam Code:
PREX-1060A
Last Update: Dec 14, 2024
120 Questions Detail
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PREX-1060A Q&A's Detail

Exam Code:
PREX-1060A
Total Questions:
120 Q&A's
Single Choice Questions:
120 Q&A's

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Exam 4: Invigilated Theory Exam Questions and Answers

Questions 1

A salesperson is representing a buyer client in the purchase of a fully tenanted mixed-use building. The agreement of purchase and sale will be in the name of a corporation owned by the buyer and several other shareholders. Which of the following statements is correct regarding the signing of this agreement of purchase and sale?

Options:

A.

The general partner of the company must sign and date below the printed name of the limited company.

B.

The buyer must sign and date below the printed name of the corporation.

C.

An authorized signing officer of the company must sign and date over the words: "I haveauthority to bind the corporation" and below the printed registered name.

D.

A major shareholder of the company must sign and date over their printed name.

Questions 2

A tenant receives the keys to their new retail space. When the tenant opens the door, they see evidence of a small fire on the walls near the electrical panel. Which of the following is an appropriate recommendation the salesperson could provide to the new tenant?

Options:

A.

Meet with the property manager, review the lease, and determine a course of action.

B.

Repair the damage and deduct the cost from the rent.

C.

Contact a lawyer and immediately start a legal action for damages.

D.

Terminate the lease and start looking for a new space.

Questions 3

A buyer client is interested in purchasing an industrial property for their manufacturing business. The buyer's salesperson informs them of the building criteria, along with the minimum requirements for clear height and clear span that would be suitable for the buyer's business. What should the salesperson explain to the buyer regarding clear span?

Options:

A.

The salesperson should explain that clear span refers to the amount of floor area that is clear of interference from columns and walls.

B.

The salesperson should explain that clear span refers to the unobstructed vertical distance from the floor to the bottom of the lowest ceiling or roof component.

C.

The salesperson should explain that clear span refers to the unobstructed vertical distance from the floor to the bottom of the highest point of the ceiling or roof component.

D.

The salesperson should explain that clear span refers to the total amount of floor area in the space, including the space that is occupied between columns and walls.

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