Free Humber College PREX-1060A Practice Test & Real Exam Questions

Exam Code/Number: PREX-1060A
Exam Name/Title: Exam 4: Invigilated Theory Exam
Certification Provider: Humber College
Corresponding Certification: RESP Pre-Registration Phase

Exam Questions: 108
Updated On: Aug 17, 2026

Question #1

A salesperson is drafting an agreement to lease a retail property for a tenant client who is looking to open a women's apparel store. Which of the following would NOT be included in the agreement to lease?

A. The names of all the tenant's suppliers

B. The names of all parties to the lease

C. The commencement date of the lease

D. A description of the premises

Discussion 0

Correct Answer: A Vote an answer

Question #2

In regard to the adjusted book value/asset valuation method of valuing a business, which of the following is correct?

A. A company's adjusted book value should be equal to the actual market value of the business.

B. The adjusted book value method should not be used when the sale of a business is being implemented or is under consideration.

C. The adjusted book value method takes goodwill into account when establishing the value of a business.

D. A company's adjusted book value is entirely unrelated to its net worth.

Discussion 0

Correct Answer: C Vote an answer

Question #3

A buyer is interested in constructing a retail building and wants to use the most efficient method to save time and money. Which statement is true with regard to tilt-up wall panels and pre-cast panels?

A. Pre-cast panels cost much more than tilt-up panels.

B. Both tilt-up panels and pre-cast panels can lower construction costs.

C. Pre-cast panels are more durable than tilt-up panels.

D. Both tilt-up panels and pre-cast panels are formed off-site.

Discussion 0

Correct Answer: B Vote an answer

Question #4

A salesperson is searching for properties on behalf of their retail buyer client for their designer eyewear and optical store. The buyer discusses their storage and product display needs with the salesperson. Which of the following is NOT a factor the buyer should consider regarding the product display and storage space of potential properties?

A. The salesperson should advise the buyer to consider their business's predicted monthly inventory.

B. The salesperson should advise the buyer to consider the space they will need to allot for storage versus customer-facing product.

C. The salesperson should advise the buyer to consider the price of their products.

D. The salesperson should advise the buyer to consider the size of their products.

Discussion 0

Correct Answer: C Vote an answer

Question #5

What is the best indicator of a strong office market?

A. Low rental rates and many concessions

B. The number of free months given to new and renewing tenants by landlords in the office marketplace

C. When tenants have lots of options because of the amount of available space at favorable rates

D. The absorption rate, net absorption rate, and rising rental rates

Discussion 0

Correct Answer: D Vote an answer

Question #6

The balance sheet of a business helps investors understand its stability and assess financial risk. A balance sheet includes details about all of the following, EXCEPT:

A. Assets

B. Shareholder's equity

C. Net operating income

D. Liabilities

Discussion 0

Correct Answer: C Vote an answer

Question #7

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 ask the owner of the garage for more information and what course of action they recommend to assist a future purchaser of the site.

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 include the information in the marketing material as it would be beneficial for an auto sales business to have a garage located nearby.

D. The salesperson should attempt to identify signs of contamination on the property and recommend an appropriate third-party expert to the seller client.

Discussion 0

Correct Answer: D Vote an answer

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