Exam Name: Exam 4: Invigilated Theory Exam
Certification Provider: Humber College
Corresponding Certification: RESP Pre-Registration Phase
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Instant Download PREX-1060A Exam Dumps : Exam 4: Invigilated Theory Exam
Updated: Nov 06, 2026
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Humber College PREX-1060A Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Commercial Real Estate Transactions | - Commercial leasing and property analysis
|
Humber College Exam 4: Invigilated Theory Sample Questions:
A salesperson is helping a buyer client to purchase a piece of vacant land to develop in the future. The salesperson recommends that the buyer consult with a third-party professional because the salesperson cannot provide the service with reasonable knowledge, skill, judgment, and competence. Which of the following is NOT a professional the salesperson would likely recommend to the buyer?
- A. A legal consultant who specializes in evicting residential tenants
- B. A consultant in a financial institution
- C. A zoning specialist in the city's planning department
- D. An appraiser with Accredited Appraiser Canadian Institute (AACI) designation
Correct Answer: A 🗳️
Which of the following is most likely to be a factor in an appraisal for an industrial property?
- A. Amount of advertising and publicity
- B. Price trend for detached homes in nearby neighborhoods
- C. Access to raw materials used in the region
- D. Proximity to museums and historical sites
Correct Answer: C 🗳️
A buyer is in the process of closing a transaction when a tornado causes damage to the property. The necessary repairs may extend past the closing date. Which of the following may be used to resolve this problem?
- A. Change the completion date by using a waiver.
- B. Change the completion date by using an amendment to the agreement of purchase and sale.
- C. A change is not necessary because the damage is out of the control of the buyer or the seller.
- D. Change the completion date by using a notice of fulfillment.
Correct Answer: B 🗳️
When a property assessment of a new commercial property has not been completed prior to its resale, what should a salesperson do to protect the buyer?
- A. Get a letter from the seller to guarantee a maximum amount of realty tax payment in the coming year.
- B. Include the current tax assessment as a schedule of the agreement.
- C. Ensure the offer contains a clause allowing for compensation for adjustments to the property taxes.
- D. Ensure the offer contains a clause requiring the seller and the buyer to share the property taxes to be assessed for the next three years.
Correct Answer: C 🗳️
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?
- A. Computer training institute
- B. Petroleum storage and distribution sites
- C. Chemical manufacturers
- D. Power stations
Correct Answer: A 🗳️
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