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Humber College PREX-1060A Exam Syllabus Topics:

Humber College Exam 4: Invigilated Theory Sample Questions:

Question 1

Issues that occurred prior to the closing of a transaction may be uncovered by title and non-title searches during due diligence. Which of the following is a non-title search concern?

A. A registered right of way that blocks the buyer's intended use of the property
B. Liens and encumbrances that are registered against the property
C. The property's use doesn't comply with municipal zoning bylaws
D. The seller is not entitled to transfer title to the property for some reason

Question 2

Which of the following is most likely to be a factor in an appraisal for an industrial property?

A. Price trend for detached homes in nearby neighborhoods
B. Access to raw materials used in the region
C. Proximity to museums and historical sites
D. Amount of advertising and publicity

Question 3

What should a salesperson do if they are unable to secure documentation to verify the usable and rentable areas of a property?

A. Use a laser measuring tool to take the measurements and use the R/U factor to calculate the figures
B. Use the R/U factor to calculate the figures
C. Recommend that the landlord obtain the professional services of a measuring company to obtain the figures
D. Use a laser measuring tool to take the measurements

Question 4

The key mechanical components of commercial buildings include heating, cooling, and electrical systems.
Which of the following tasks is NOT usually completed by the salesperson?

A. Learning what types of equipment are in the building and having a general understanding of their age and condition.
B. Reviewing whether the technical components have been recently replaced or upgraded.
C. Contacting contractors for quotes for repairing or replacing equipment.
D. Ensuring inspections are being carried out as required.

Question 5

A salesperson representing a client who is selling an office property has received some documents from the seller and is trying to organize them. Which of the following documents is NOT needed by the salesperson or seller when selling the property?

A. Income verification documents
B. Environmental site assessments
C. Private mortgage form
D. Telephone bills

Solutions: