Exam 4: Invigilated Theory Exam PREX-1060A Exam Questions with Experts Answers Updated Recently

A.  

They carry on a farming business generating a net profit of $100,000.

B.  

They have a valid harmonized sales tax (HST) registration number under the Excise Tax Act.

C.  

They are Canadian citizens or permanent residents of Canada.

D.  

They submit the appropriate application semi-annually.

A.  

Specifies the terms of a business partnership agreement.

B.  

Regulates matters involving ownership of a business.

C.  

Regulates trade names.

D.  

Protects the rights of workers of a business that is being sold.

A.  

The cost approach is preferred for newer construction properties, as the appraiser would not need to make a subjective estimation of the accrued depreciation of the building.

B.  

The cost approach is typically used to appraise income-generating properties.

C.  

The cost approach is preferred for older construction properties, as calculating depreciation on them is fairly straightforward.

D.  

The cost approach is useful for the appraisal of property types for which sales and income data are scarce, such as industrial and special-purpose properties.

A.  

Use the R/U factor to calculate the figures

B.  

Use a laser measuring tool to take the measurements and 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