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Humber College PREX-1060A Exam Dumps Questions and Answers

Exam Code: PREX-1060A
Last Update: Oct 7, 2024
Questions: 120
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Exam 4: Invigilated Theory Exam Questions and Answers

Questions 1

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?

Options:

A.

Telephone bills

B.

Private mortgage form

C.

Income verification documents

D.

Environmental site assessments

Questions 2

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?

Options:

A.

Liens and encumbrances that are registered against the property

B.

The property's use doesn't comply with municipal zoning bylaws

C.

A registered right of way that blocks the buyer's intended use of the property

D.

The seller is not entitled to transfer title to the property for some reason

Questions 3

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?

Options:

A.

Ensuring inspections are being carried out as required

B.

Contacting contractors for quotes for repairing or replacing equipment

C.

Reviewing whether the technical components have been recently replaced or upgraded

D.

Learning what types of equipment are in the building and having a general understanding of theirage and condition