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Humber College PREX-1060A PDF Format
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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q14-Q19):
NEW QUESTION # 14
All of the following aspects of a commercial property may affect its eligibility for Leadership in Energy and Environmental Design (LEED) certification, EXCEPT:
- A. Vacancy rate
- B. Innovative elements
- C. Energy efficiency
- D. Sustainability
Answer: A
NEW QUESTION # 15
Finish the sentence: The Employment Standards Act:
- A. Regulates trade names.
- B. Regulates matters involving ownership of a business.
- C. Specifies the terms of a business partnership agreement.
- D. Protects the rights of workers of a business that is being sold.
Answer: D
NEW QUESTION # 16
Which statement about an Environmental Site Assessment (ESA) is NOT correct?
- A. No stipulations exist for the third and final phase of an ESA due to its vast and complex nature.
- B. An ESA is not required if the buyer is purchasing the industrial property for their own use.
- C. The Environmental Protection Act establishes the procedures and requirements for the first two phases of an ESA.
- D. All new commercial properties must undergo an ESA before construction begins.
Answer: B
NEW QUESTION # 17
A salesperson is negotiating a lease for a new retail tenant and reviewing the requirements and restrictions regarding the delivery of stock items. Which of the following is NOT a correct statement regarding stock delivery requirements and restrictions in a commercial lease?
- A. Should a delivery truck arrive during an emergency, the property manager must be available.
- B. The salesperson is responsible for addressing site access and exit in the tenant's agreement to lease.
- C. The salesperson is responsible for negotiating the tenant's stock delivery window.
- D. Stock delivery cannot be restricted in a commercial agreement to lease.
Answer: D
NEW QUESTION # 18
Asset sale and share sale are two different ways to sell a business. Which statement describes an asset sale?
- A. The buyer assumes all assets and accepts all liabilities of the business.
- B. The seller benefits from a tax standpoint since any gain to the seller on the sale will be considered under the capital gains tax exemption.
- C. The buyer is eligible for tax deductions and benefits by claiming capital cost allowance on depreciable property.
- D. The buyer replaces the seller as the owner of the corporation.
Answer: C
NEW QUESTION # 19
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