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Humber College PREX-1060A Exam Overview:
| Certification Vendor: | Humber College |
| Exam Name: | Exam 4: Invigilated Theory Exam |
| Exam Number: | PREX-1060A |
| Available Languages: | English |
| Related Certifications: | Real Estate Salesperson Program - Pre-Registration Phase |
| Exam Price: | CAD 0 |
| Exam Duration: | 180 minutes |
| Exam Format: | Invigilated Theory Exam, Multiple Choice (typical for program exams) |
| Recommended Training: | Humber College Real Estate Salesperson Program |
| Exam Registration: | Meazure Learning Exam Scheduling (access via Humber login) Humber College Real Estate Programs Portal |
| Sample Questions: | Humber College PREX-1060A Sample Questions |
| Exam Way: | Invigilated (proctored) exam via Meazure Learning platform |
| Pre Condition: | Pass PREC-1050A (Course 4: Commercial Real Estate Transactions - eLearning) |
| Official Syllabus URL: | https://realestateprograms.humber.ca/search/publicCourseSearchDetails.do?courseId=17712&method=load |
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:
1. Different clauses can be used for each transaction to address the unique needs of buyers and sellers. Which of the following may be used in an agreement of purchase and sale to buy a commercial property?
A) A clause to confirm the remuneration payable to the brokerages will be as stated in the seller representation agreement
B) A clause for the buyer to have the right to negotiate for specialized restaurant equipment that is not included in the property purchase price
C) A clause for the seller to disclose all information verbally without providing supporting documents to verify that information; documents to be provided on closing
D) A clause for the buyer to review the leases only after all conditions have been waived and accepted
2. A salesperson negotiates the purchase of a retail property for their client, who plans to open a new store at this location. The client asks the salesperson how many parking spots the property will be required to have to meet the zoning requirements. The salesperson replies that the municipality has zoning requirements that set the minimum parking ratio. How will the municipality calculate the parking ratio?
A) The municipality will take the number of available parking spaces and divide it by the property's gross leasable area.
B) The municipality will take the property's gross leasable area and divide it by the number of available parking spaces.
C) The municipality will take the number of available parking spaces and divide it by the property's net leasable area.
D) The municipality will take the number of available parking spaces and divide it by the projected number of monthly visitors.
3. Which of the following accurately describes a landlord's commercial property insurance coverage?
A) A landlord's commercial property insurance policy should cover the loss of the property's equity due to a change in market conditions or to a recession.
B) A landlord's commercial property insurance policy should cover the loss of rental income in the event of a fire, for the period the premises is vacant while repairs are made.
C) A landlord's commercial property insurance policy should cover the loss of the tenant's assets due to theft from their employees or third parties.
D) A landlord's commercial property insurance policy should cover the loss of the tenant's assets and income due to business interruption as the result of a fire or flood.
4. 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?
A) 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.
B) It is important for the tenant to know the total area of the accessory buildings as it will contribute to their rentable area.
C) 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.
D) It is important for the tenant to know the total area of the accessory buildings as it will be deducted from their rentable area.
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?
A) Mutual release
B) Acknowledgment
C) Notice of fulfillment
D) Waiver
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: D |
By Aubrey
