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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:
Oct 24, 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

While preparing to list a vacant retail site that allows new auto sales, the salesperson sees that there is an auto repair garage business next door with old and rusting metal storage tanks at the side of their building. Which of the following is the correct action for the salesperson to take?

Options:

A.

The salesperson should attempt to identify signs of contamination on the property and recommend an appropriate third-party expert to the seller client.

B.

The salesperson should include the information in the marketing material as it would be beneficial for an auto sales business to have a garage located nearby.

C.

The salesperson should ask the owner of the garage for more information and what course of action they recommend to assist a future purchaser of the site.

D.

The salesperson should ask the owner of the garage whether they have thought about selling their property at this time.

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Question 2

A salesperson sells an office building using the Commercial Agreement of Purchase and Sale along with a schedule that lists all the fixtures, chattels, and rental items of the office building. After closing the real estate transaction, a dispute arises between the seller and the buyer about which chattels, fixtures, and rental items of the office building were to be included and which were to be excluded. Which of the following is NOT an accurate statement regarding the salesperson's actions related to negotiating chattels, fixtures, and rental items?

Options:

A.

The salesperson should clearly list all rental items and service contracts, as these will not be included in the purchase price of the real property being purchased.

B.

The salesperson should specifically exclude all fixtures that are not a part of the transaction since fixtures are considered a part of the property and are normally included in the purchase price.

C.

The salesperson should clearly describe and list the fixtures and chattels in the Agreement of Purchase and Sale and mark each item as an exclusion or inclusion.

D.

The salesperson should specifically exclude all chattels that are not a part of the transaction since chattels are considered a part of the property and are normally included in the purchase price.

Question 3

Which of the following is a characteristic of main street retail?

Options:

A.

Comprises a blend of old and new stores

B.

Must be located in a small, older community

C.

Consists of newer, free-standing buildings only

D.

Structure size typically ranges from 100,000 to 130,000 square feet

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