Humber College PREX-1060A : Exam 4: Invigilated Theory Exam

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Humber College PREX-1060A Exam Syllabus Topics:

Humber College Exam 4: Invigilated Theory Sample Questions:

Question 1

All of the following aspects of a commercial property may affect its eligibility for Leadership in Energy and Environmental Design (LEED) certification, EXCEPT:

A. Energy efficiency
B. Vacancy rate
C. Sustainability
D. Innovative elements

Question 2

A seller client wants to know the actual size of their unit to avoid any discrepancies. How should the salesperson assist the client?

A. Tell the seller the usable size is 80 percent of the rentable size.
B. Recommend the services of third-party professionals to measure it.
C. Add a disclaimer to protect the seller from any discrepancy.
D. Use a laser measuring device to take the measurements.

Question 3

When discussing the sale of a business and establishing the asking price, there are questions a salesperson must ask the owner. Which of the following is one of them?

A. Is inventory included in the sale of this business?
B. Is there any easement on the property?
C. Is the ownership of the building a corporation or a partnership?
D. What is the construction cost of the building?

Question 4

A tenant has an established business with good growth potential for the foreseeable future and wants to rent a retail property for expansion. If the landlord wants to have the opportunity to boost the rent when the tenant's sales are good, which type of lease would you recommend to the landlord?

A. Percentage lease
B. Net lease
C. Gross lease
D. Triple net lease

Question 5

A tenant receives the keys to their new retail space. When the tenant opens the door, they see evidence of a small fire on the walls near the electrical panel. Which of the following is an appropriate recommendation the salesperson could provide to the new tenant?

A. Meet with the property manager, review the lease, and determine a course of action.
B. Repair the damage and deduct the cost from the rent.
C. Contact a lawyer and immediately start a legal action for damages.
D. Terminate the lease and start looking for a new space.

Solutions: