PREX-1060A PDF VCE | EXAM PREX-1060A QUESTIONS PDF

PREX-1060A PDF VCE | Exam PREX-1060A Questions Pdf

PREX-1060A PDF VCE | Exam PREX-1060A Questions Pdf

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q87-Q92):

NEW QUESTION # 87
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?

  • A. Mutual release
  • B. Acknowledgment
  • C. Waiver
  • D. Notice of fulfillment

Answer: C


NEW QUESTION # 88
A buyer wants to purchase an industrial property for its international logistics and distribution center.
Currently, the building is used by a local courier company with small delivery trucks and vans. When drafting an offer to purchase this property, which of the following should be added regarding this change of use?

  • A. A clause to test the quality of the underground water source
  • B. A clause to check the condition of the trucks and vans
  • C. A clause to ensure the truck parking spaces and turning radius are sufficient
  • D. A clause to obtain the necessary mortgage amount

Answer: C


NEW QUESTION # 89
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:

  • A. Serving separate waivers
  • B. Serving one waiver
  • C. Serving one notice of fulfillment
  • D. Serving separate notices of fulfillment

Answer: D


NEW QUESTION # 90
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?

  • A. 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.
  • B. 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.
  • C. Retail commercial property owners have three types of potential rental income: base rent, additional rent, and percentage rent.
  • D. 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.

Answer: C


NEW QUESTION # 91
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. Chemical manufacturers
  • B. Computer training institute
  • C. Petroleum storage and distribution sites
  • D. Power stations

Answer: B


NEW QUESTION # 92
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