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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:
Jun 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

A salesperson is discussing the advantages and disadvantages of owning commercial real estatewith their investor buyer client. Which of the following is NOT an advantage of owning commercial real estate?

Options:

A.

Quick turnaround time to free up capital when needed is an advantage of owning commercial real estate.

B.

Limited equity investment while gaining leverage through financing is an advantage of owning commercial real estate.

C.

Potential to recover capital through refinancing is an advantage of owning commercial real estate.

D.

Potential for tax sheltering possibilities for the investor is an advantage of owning commercial real estate.

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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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