Humber College PREX-1060A PDF Questions–Ideal Material for Quick Preparation

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q69-Q74):

NEW QUESTION # 69
A buyer client has hired a commercial appraiser to assess the market value of a fully tenanted commercial complex. The complex is mixed-use with retail on the main level and offices on the second and third levels. It is an older property with unique characteristics. Which of the following is NOT a correct statement regarding how the appraiser will determine the value of the property?

A. The appraiser will research the layout of other types of commercial buildings to establish the utility of the mixed-use building.
B. The appraiser will assess how convenient it is to access the building and whether customers would be required to walk a significant distance within the mixed-use commercial complex to find a retailer.
C. The appraiser will research similar buildings, as commercial properties are usually bought and sold on a dollar value per square foot.
D. The appraiser will assess the layout of the complex, as it will directly establish the utility of the mixed- use building.

Answer: A

NEW QUESTION # 70
While preparing to list a vacant retail site that allows new auto sales, the salesperson sees that there is an auto repair garage business next door with old and rusting metal storage tanks at the side of their building. Which of the following is the correct action for the salesperson to take?

A. The salesperson should include the information in the marketing material as it would be beneficial for an auto sales business to have a garage located nearby.
B. The salesperson should ask the owner of the garage whether they have thought about selling their property at this time.
C. The salesperson should attempt to identify signs of contamination on the property and recommend an appropriate third-party expert to the seller client.
D. The salesperson should ask the owner of the garage for more information and what course of action they recommend to assist a future purchaser of the site.

Answer: C

NEW QUESTION # 71
A developer has completed the construction of a new commercial condominium project that is readyfor occupancy by the buyers. The condominium should be registered within approximately six months. Which of the following accurately describes a responsibility of the developer?

A. The developer will be responsible for much of the day-to-day management of the condominium corporation's affairs after the turnover meeting.
B. The developer will be responsible for registering the declaration and description and creating the plan and vision for the property.
C. The developer will be responsible for overseeing the business affairs of the condominium corporation after the turnover meeting.
D. The developer will be responsible for calling a general meeting within 21 days to appoint a new board of directors.

Answer: B

NEW QUESTION # 72
A salesperson has a buyer client in the metal fabrication industry, which requires outdoor storage and involves substantial noise and smells. The salesperson sees a listing that says "24,000-square-foot light industrial property, multi-uses permitted." Is this a suitable property for their client? Why or why not?

A. Yes, the property is suitable since the client is already in the metal fabrication business, and does not need to get any permits from the municipality prior to moving in and using the property.
B. Yes, the property is suitable, as the listing says the property is light industrial and multi-uses are permitted.
C. No, the property is not suitable, as the client's business type and classification require heavy industrial zoning.
D. Yes, the property will be suitable if the client states they will change the zoning to allow their type and classification of business to operate at this location.

Answer: C

NEW QUESTION # 73
When discussing economic considerations, interest rates, government policies, and infrastructure specific to industrial properties, why are investors attracted to industrial properties?

A. Industrial properties have a lower capital gains tax at disposition.
B. Higher mortgage interest rates will provide a better return on investment.
C. Good transportation and distribution corridors do not matter to industrial investors and their tenants.
D. Industrial properties have a number of large, credit-worthy tenants and long-term leases.

Answer: D

NEW QUESTION # 74
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Humber College PREX-1060A PDF Questions–Ideal Material for Quick Preparation

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q69-Q74):

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