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PREX-1060A Valid Dumps Questions - PREX-1060A Valid Vce

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q60-Q65):

NEW QUESTION # 60
When a farm is sold, there are exemptions to the payment of harmonized sales tax (HST). In which of the following circumstances is a farmer responsible to pay HST to the Canada Revenue Agency (CRA)?

A. The farmer uses a smaller portion of the farm for a residence.
B. The farm has been used for personal use.
C. The farmer sells the farm to a relative.
D. The farm is sold to a corporation and the HST is included in the selling price.

Answer: B

NEW QUESTION # 61
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

Answer: C

NEW QUESTION # 62
A salesperson sells an office building using the Commercial Agreement of Purchase and Sale along with a schedule that lists all the fixtures, chattels, and rental items of the office building. After closing the real estate transaction, a dispute arises between the seller and the buyer about which chattels, fixtures, and rental items of the office building were to be included and which were to be excluded. Which of the following is NOT an accurate statement regarding the salesperson's actions related to negotiating chattels, fixtures, and rental items?

A. The salesperson should clearly describe and list the fixtures and chattels in the Agreement of Purchase and Sale and mark each item as an exclusion or inclusion.
B. The salesperson should clearly list all rental items and service contracts, as these will not be included in the purchase price of the real property being purchased.
C. The salesperson should specifically exclude all chattels that are not a part of the transaction since chattels are considered a part of the property and are normally included in the purchase price.
D. The salesperson should specifically exclude all fixtures that are not a part of the transaction since fixtures are considered a part of the property and are normally included in the purchase price.

Answer: C

NEW QUESTION # 63
Land developers purchase land for commercial, industrial, and residential projects. Tracts of land larger than five acres but smaller than 10 acres may appeal to land developers for various reasons. Which of the following is one of the reasons?

A. The developer cannot find a building lot to build a detached home.
B. They are normally less expensive than pieces of land smaller than two acres in the same neighborhood.
C. They are a good size for modern 18-hole golf courses.
D. They can be used for newly planned subdivisions.

Answer: D

NEW QUESTION # 64
In regard to Environmental Site Assessments (ESAs), which of the following is NOT accurate?

A. Every new commercial property must undergo an ESA prior to construction.
B. ESAs are regulated under the Canadian Environmental Protection Act.
C. An ESA is intended to determine if a property has been contaminated or is facing any environmental threats.
D. Local building departments use ESAs as the basis for changes to municipal zoning bylaws.

Answer: A

NEW QUESTION # 65
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PREX-1060A Learning Materials: Exam 4: Invigilated Theory Exam & PREX-1060A Questions and Answers

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