Humber College transcender resp Pre-registration Phase Prex-1060a Exam Questions And Answers Pdf by Stanislaw q12 vce pdf

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Exam Name:	Exam 4: Invigilated Theory Exam
Exam Code:	PREX-1060A Dumps
Vendor:	Humber College	Certification:	RESP Pre-Registration Phase
Questions:	120 Q&A's	Shared By:	stanislaw

Question 24

A salesperson negotiates the purchase of a retail property for their client, who plans to open a new store at this location. The client asks the salesperson how many parking spots the property will be required to have to meet the zoning requirements. The salesperson replies that the municipality has zoning requirements that set the minimum parking ratio. How will the municipality calculate the parking ratio?

Options:

The municipality will take the number of available parking spaces and divide it by the property’s gross leasable area.

The municipality will take the number of available parking spaces and divide it by the projected number of monthly visitors.

The municipality will take the number of available parking spaces and divide it by the property’s net leasable area.

The municipality will take the property’s gross leasable area and divide it by the number of available parking spaces.

Discussion

Question 25

When a property assessment of a new commercial property has not been completed prior to its resale, what should a salesperson do to protect the buyer?

Options:

Include the current tax assessment as a schedule of the agreement.

Ensure the offer contains a clause requiring the seller and the buyer to share the property taxes to be assessed for the next three years.

Ensure the offer contains a clause allowing for compensation for adjustments to the property taxes.

Get a letter from the seller to guarantee a maximum amount of realty tax payment in the coming year.

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Question 26

Different clauses can be used for each transaction to address the unique needs of buyers and sellers. Which of the following may be used in an agreement of purchase and sale to buy a commercial property?

Options:

A clause for the buyer to review the leases only after all conditions have been waived and accepted

A clause to confirm the remuneration payable to the brokerages will be as stated in the seller representation agreement

A clause for the seller to disclose all information verbally without providing supporting documents to verify that information; documents to be provided on closing

A clause for the buyer to have the right to negotiate for specialized restaurant equipment that is not included in the property purchase price

Discussion

Question 27

A salesperson discusses with a buyer the potential advantages of purchasing brownfields for redevelopment. What is NOT an advantage for the buyer of a brownfield property?

Options:

An owner who rehabilitates a brownfield property can receive tax incentives.

The contaminants in brownfields contain precious metals that can be sold to earn additional income.

Brownfield properties typically have the advantage of existing infrastructure such as roads, utilities, water/sewer servicing, schools, and transit facilities.

Brownfield properties can often be purchased at well below their potential market value.

Discussion

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