Free Humber College PREX-1060A Practice Exams Questions 2026 - TheExamsLabs

Start Preparation with the Latest and Real 100% Free RESP Pre-Registration Phase PREX-1060A Exam Dumps Questions Practice 2026

Page: 1 / 25

Total 122 Questions | Updated On: May 21, 2026

Add To Cart

Question 1

Finish the sentence: The Employment Standards Act:

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.

Answer: D

Question 2

Which of the following is a characteristic of main street retail?

A : Comprises a blend of old and new stores

B : Must be located in a small, older community

C : Consists of newer, free-standing buildings only

D : Structure size typically ranges from 100,000 to 130,000 square feet

Answer: A

Question 3

When discussing the sale of a business and establishing the asking price, there are questions a salesperson must ask the owner. Which of the following is one of them?

A : Is there any easement on the property?

B : Is the ownership of the building a corporation or a partnership?

C : What is the construction cost of the building?

D : Is inventory included in the sale of this business?

Answer: D

Question 4

Both the landlord and the tenant have responsibilities in the management of their relationship as per the commercial lease agreement. Which of the following is NOT an accurate statement regarding the roles and responsibilities of landlords and tenants as per the Commercial Agreement to Lease?

A : The landlord must address their tenants' issues in a timely manner in general but more so when the issue can result in serious and costly consequences.

B : All commercial leases require that tenants keep everything in and about the property, including all points of entry and exit, in good repair at all times.

C : Tenants are obligated to ensure they have adequate tenant insurance for their property.

D : Not all commercial leases require the landlord to perform repairs and maintenance.

Answer: B

Question 5

An office building is being sold. The agreement of purchase and sale includes multiple conditions that protect the buyer. Each condition has a different expiry date, and they will be fulfilled and completed at different times. The conditions do not have waiver provisions. In this situation, all conditions can be removed by:

A : Serving separate waivers

B : Serving one waiver

C : Serving separate notices of fulfillment

D : Serving one notice of fulfillment

Answer: C

Page: 1 / 25

Total 122 Questions | Updated On: May 21, 2026

Add To Cart