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Humber College PREX-1060A Exam Syllabus Topics:

Humber College Exam 4: Invigilated Theory Sample Questions:

1. A retail property buyer must consider the parking requirements associated with the site. All of the statements below are considerations for parking, EXCEPT:

A) There may be minimum width and depth requirements for parking spaces.
B) Parking may be impacted by the municipality's parking bylaw.
C) Parking may be impacted by zoning requirements.
D) Required parking for persons with disabilities is usually fixed as a ratio based on the number of disabled persons in the community.

2. When representing a client who is selling a business, a salesperson must be aware of concerns related to compliance. Which of the following is NOT a compliance concern?

A) The seller discloses all liabilities of the business in writing
B) The condition of goods, chattels, and fixtures cannot be verified
C) The seller provides insufficient due diligence documents
D) Income and expense statements contain misrepresentations

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

4. Which of the following is NOT relevant information a salesperson must verify when representing a landlord who is planning to lease their industrial property?

A) The salesperson must verify the previous tenant's lease rates and terms.
B) The salesperson must verify the zoning information for the industrial property.
C) The salesperson must verify the rates and terms of lease for the property.
D) The salesperson must verify whether the tenant's intended use for the industrial property is permitted under the zoning bylaw.

5. Many industrial users install one or more cranes on their properties to move heavy items. Which type of industrial crane has an arm attached at an angle to a rotating mast that permits 360-degree swiveling around that mast?

A) Overhead crane
B) Jib crane
C) Gantry crane
D) Bridge crane

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