Exam Name: Exam 4: Invigilated Theory Exam
Certification Provider: Humber College
Corresponding Certification: RESP Pre-Registration Phase
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Humber College PREX-1060A Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Commercial Property Types | - Industrial Properties
|
| Topic 2: Commercial Property Transactions | - Commercial Property Sales
|
| Topic 3: Financial Analysis | - Business Financial Review
|
| Topic 4: Property Development and Land Use | - Development Analysis
|
Humber College Exam 4: Invigilated Theory Sample Questions:
An agreement of purchase and sale for an industrial building is accepted conditional on financing with the expiry date of May 14. On May 11, the bank informs the buyer the mortgage cannot be approved until May
17. The salesperson for the buyer then prepares an amendment to the agreement of purchase and sale for the extension of the condition. Which of the following is NOT correct?
- A. The buyer can use the same amendment to ask for a change of the closing date.
- B. To play it safe, the salesperson should amend the condition with May 18 as the expiry date.
- C. The buyer can still waive the condition before the expiry date if the seller refuses to sign the amendment, provided there is a waiver provision in the condition.
- D. The salesperson should prepare the amendment with midnight, May 17 as the irrevocable time.
A salesperson is helping a buyer identify their needs and property requirements to select an appropriate office property and they are discussing the office layout. Which of the following is NOTa layout consideration?
- A. Boardrooms, private offices, and workstations
- B. Fitting rooms
- C. Storage
- D. Kitchens/lunchrooms
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. Income and expense statements contain misrepresentations
- C. The seller provides insufficient due diligence documents
- D. The condition of goods, chattels, and fixtures cannot be verified
The operating costs of a commercial building are usually higher than those of buildings that do not have any common areas. Common area maintenance (CAM) is referred to as the landlord's operating costs attributable to factors that affect the common areas. Which of the following is NOT one of those factors?
- A. Depreciation
- B. Supervision
- C. Repairs
- D. Operations
A salesperson is searching for properties on behalf of their retail buyer client for their designer eyewear and optical store. The buyer discusses their storage and product display needs with the salesperson. Which of the following is NOT a factor the buyer should consider regarding the product display and storage space of potential properties?
- A. The salesperson should advise the buyer to consider their business's predicted monthly inventory.
- B. The salesperson should advise the buyer to consider the price of their products.
- C. The salesperson should advise the buyer to consider the space they will need to allot for storage versus customer-facing product.
- D. The salesperson should advise the buyer to consider the size of their products.
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