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Humber College PREX-1060A Exam With Confidence Using Practice Dumps

Exam Code:
PREX-1060A
Exam Name:
Exam 4: Invigilated Theory Exam
Certification:
RESP Pre-Registration Phase
Vendor:
Humber College
Questions:
120
Last Updated:
Feb 20, 2026
Exam Status:
Stable
Humber College PREX-1060A

PREX-1060A: RESP Pre-Registration Phase Exam 2025 Study Guide Pdf and Test Engine

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Exam 4: Invigilated Theory Exam Questions and Answers

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Question 1

When discussing the sale of a business and establishing the asking price, there are questions a salesperson must ask the owner. Which of the following is one of them?

Options:

A.

Is there any easement on the property?

B.

Is the ownership of the building a corporation or a partnership?

C.

What is the construction cost of the building?

D.

Is inventory included in the sale of this business?

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Question 2

A salesperson is drafting an agreement to lease a retail property for a tenant client who is looking to open a women's apparel store. Which of the following would NOT be included in the agreement to lease?

Options:

A.

A description of the premises

B.

The names of all the tenant's suppliers

C.

The commencement date of the lease

D.

The names of all parties to the lease

Question 3

A new commercial condominium project is completed, and the buyers are given an occupancy date. On the occupancy date, a few of the buyers move into their units and begin setting up their operations. That evening, there is a severe thunderstorm. In the morning, several of the buyers start to notice roof leaks. Some of the buyers call the builder's office while others call their salespersons.Which of the following is an accurate statement regarding the building's warranty coverage?

Options:

A.

If the builder does not address this issue, the buyers can file a complaint with the provincial warranty authority for any outstanding work the builder did not complete.

B.

The buyers should submit their concerns to the provincial warranty authority, as they are entitled to one-year warranty coverage from the occupancy date.

C.

There is no provincial warranty coverage for commercial condominiums, but the buyers can inquire with the builder about any warranties that they may offer.

D.

The buyers should draft a list of all their concerns and submit them to the municipality for appropriate coverage.

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