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PREX-1060A Exam Dumps : Exam 4: Invigilated Theory Exam

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Exam 4: Invigilated Theory Exam Questions and Answers

Question 1

There are different requirements under REBBA and other legislation that affect the sale of a business. Which of the following is NOT correct?

Options:

A.

A key consideration a salesperson must keep in mind when handling the sale of a business is operating licenses.

B.

Depending on the business location, there are various municipal bylaws, zoning, permits, and other rules and regulations that could impact the sale of a business.

C.

There are various municipal bylaws that could impact the sale of a business, depending on the business activity.

D.

If a municipal license is associated with the business and it may be transferrable to the buyer, then it is of no concern to the sales representative.

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Question 2

Which of the following is NOT determined by zoning bylaws?

Options:

A.

The types of buildings that are permitted in a location, their height, and how they may be used

B.

Lot dimensions and parking requirements

C.

The amount of rent a building may generate

D.

Where buildings and other structures may be located

Question 3

Obtaining the size and boundaries of a commercial condominium unit is an important task for a salesperson. Which of the following statements regarding this task is NOT correct?

Options:

A.

An Ontario Land Surveyor can be hired to measure the space.

B.

Space should be measured in accordance with BOMA standards.

C.

An architect can be hired to measure the space.

D.

The original plans should be used to determine the size of a unit.