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PREX-1060A actual test - PREX-1060A test questions & PREX-1060A actual exam

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q66-Q71):

NEW QUESTION # 66
A seller provides you with architectural drawings of their building. Which statement is NOT correct?

A. If changes are made to source documents, they are still valid if you have the original document.
B. A photocopy of a source document can be used to verify information.
C. Architectural drawings are source documents.
D. Other types of source documents include surveys and tax records.

Answer: A

NEW QUESTION # 67
A salesperson is representing a tenant client who is opening a new pet food store in a local strip plaza. The salesperson meets with their tenant to discuss display signage and review the guidelines in their commercial lease agreement. Which statement is NOT accurate regarding the commercial lease agreement's signage clause?

A. The tenant's signage shall be immediately removed at the end of their lease term(s) at the tenant's expense.
B. The tenant's signage is considered a trade fixture and shall remain the tenant's property.
C. The tenant's signage must be approved by the municipality and the landlord, and all associated costs shall be paid by the landlord.
D. The tenant's signage, from approvals to installation and ongoing maintenance, shall be at thetenant's own expense.

Answer: C

NEW QUESTION # 68
A salesperson is representing a commercial landlord in a lease negotiation. The landlord wants to sign back the offer with a higher rent. What should the salesperson make the landlord aware of regarding the rent increase?

A. The rent increase cannot be more than the Consumer Price Index (CPI).
B. The rent increase can be challenged by the Landlord and Tenant Board.
C. The rent increase can be any amount.
D. The rent increase cannot be higher than the guideline set by the government.

Answer: C

NEW QUESTION # 69
A salesperson is assisting both the tenant and the landlord in a commercial property rentaltransaction. Which of the following statements about calculating the remuneration for this transaction is correct?

A. Remuneration can be calculated based on the difference between the listing price and the actual rental price.
B. Remuneration can be an agreed amount or a percentage of the rental price, but not a combination of both.
C. Salespersons are prohibited from indicating directly that remuneration is fixed by any association but can indicate it indirectly.
D. The tenant may be required to pay the deficiency between the contracted amount in the tenant representation agreement and the amount actually paid by the landlord.

Answer: D

NEW QUESTION # 70
A buyer client is discussing zoning bylaws of the municipality in relation to an industrial development site with their salesperson. Which of the following is NOT a correct statement with respect to zoning bylaws?

A. Zoning bylaws specify the permitted land uses throughout a municipality.
B. Municipalities have zoning bylaws that divide the city into different land uses or zones.
C. New commercial construction and redevelopment must comply with zoning bylaws.
D. Municipal zoning bylaws overrule all other laws with respect to land uses and issuance ofbuilding permits in Ontario.

Answer: D

NEW QUESTION # 71
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