Latest PREX-1060A Test Pdf, Reliable PREX-1060A Test Practice

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q59-Q64):

NEW QUESTION # 59
A salesperson is assisting the buyer of a retail condominium with the due diligence process. What is a leading practice they should recommend to the buyer?

A. Confirm that the contract of the condominium property management company has been renewed for at least 10 years.
B. Verify if there are any non-competition provisions that need to be satisfied as set out in thecondominium rules or bylaws.
C. Ensure there is parking and repair space available for commercial trucks.
D. Obtain the existing status certificate from the brokerage to verify all restrictions, including shared premises with other businesses in the commercial condominium.

Answer: B

NEW QUESTION # 60
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. Municipalities have zoning bylaws that divide the city into different land uses or zones.
B. New commercial construction and redevelopment must comply with zoning bylaws.
C. Zoning bylaws specify the permitted land uses throughout a municipality.
D. Municipal zoning bylaws overrule all other laws with respect to land uses and issuance ofbuilding permits in Ontario.

Answer: D

NEW QUESTION # 61
A salesperson is drafting an offer and discussing with the buyer the steps required for due diligencewhen purchasing a commercial condominium unit. All of the steps below are included in due diligence, EXCEPT:

A. Create a business plan
B. Identify third-party professionals
C. Gather, organize, and verify all pertinent information
D. Estimate time frames required for due diligence and other offer conditions

Answer: A

NEW QUESTION # 62
If a property in Ontario is assessed and valued as farmland by the Municipal Property Assessment Corporation (MPAC), the farmer could receive a 75% tax reduction for municipal taxes if certain conditions are met. Which of the following describes a condition that must be met?

A. They submit the appropriate application semi-annually.
B. They carry on a farming business generating a net profit of $100,000.
C. They are Canadian citizens or permanent residents of Canada.
D. They have a valid harmonized sales tax (HST) registration number under the Excise Tax Act.

Answer: D

NEW QUESTION # 63
The balance sheet of a business helps investors understand its stability and assess financial risk. A balance sheet includes details about all of the following, EXCEPT:

A. Liabilities
B. Net operating income
C. Assets
D. Shareholder's equity

Answer: B

NEW QUESTION # 64
......

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Latest PREX-1060A Test Pdf, Reliable PREX-1060A Test Practice

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q59-Q64):

Pass-Sure Latest PREX-1060A Test Pdf and Realistic Reliable PREX-1060A Test Practice & Perfect Exam 4: Invigilated Theory Exam New Test Materials

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