Free Humber College PREX-1060A Practice Exam Questions and Answers 2026

Start Learning with the Newest and 100% Free PREX-1060A Exam Dumps Questions

Page: 1 / 25

Total 122 Questions | Updated On: Apr 03, 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

A salesperson includes a well-drafted condition in an agreement of purchase and sale for their buyer client to arrange a new first mortgage for an industrial property. The buyer later changes their mind and does not want to borrow money for the purchase. What should the buyer's salesperson use to remove the condition?

A : Acknowledgment

B : Notice of fulfillment

C : Mutual release

D : Waiver

Answer: D

Question 3

Which of the following is a reason why an owner might consider redeveloping an industrial property?

A : The cost of relocating is low.

B : A similar building can be bought at a low price.

C : The existing building no longer provides the highest and best use of the site.

D : A redevelopment will seriously disrupt the current operation.

Answer: C

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

When discussing economic considerations, interest rates, government policies, and infrastructure specific to industrial properties, why are investors attracted to industrial properties?

A : Industrial properties have a lower capital gains tax at disposition.

B : Good transportation and distribution corridors do not matter to industrial investors and their tenants.

C : Higher mortgage interest rates will provide a better return on investment.

D : Industrial properties have a number of large, credit-worthy tenants and long-term leases.

Answer: D

Page: 1 / 25

Total 122 Questions | Updated On: Apr 03, 2026

Add To Cart