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Humber College PREX-1060A Frenquent Update - PREX-1060A Test Practice

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Humber College Exam 4: Invigilated Theory Exam Sample Questions (Q64-Q69):

NEW QUESTION # 64
Which of the following statements regarding heavy industrial use and light industrial use is correct?

A. Light industrial use usually results in more noise and heavier traffic.
B. Heavy industrial use usually results in less traffic in and out of the heavy industrial zone.
C. Heavy industrial use can produce more pollution than other commercial activities.
D. Clay production is an example of light industrial use.

Answer: C

NEW QUESTION # 65
A land developer is interested in purchasing a piece of vacant land. Which of the following statements about evaluating the highest and best use of the real property is correct?

A. The estimate of value is related to how a typical buyer, with a reasonable knowledge of the market and property, wants to use the property.
B. A designated appraiser will use all factual sales data to determine the value of the current highest and best use of the property.
C. A property's highest and best use is the use that, at the time the building was built, was most likely to produce the greatest net return.
D. The land developer can identify the use of the property that is anticipated to produce the highest overall return so the appraiser can complete the appraisal.

Answer: A

NEW QUESTION # 66
A developer has completed the construction of a new commercial condominium project that is readyfor occupancy by the buyers. The condominium should be registered within approximately six months. Which of the following accurately describes a responsibility of the developer?

A. The developer will be responsible for much of the day-to-day management of the condominium corporation's affairs after the turnover meeting.
B. The developer will be responsible for overseeing the business affairs of the condominium corporation after the turnover meeting.
C. The developer will be responsible for registering the declaration and description and creating the plan and vision for the property.
D. The developer will be responsible for calling a general meeting within 21 days to appoint a new board of directors.

Answer: C

NEW QUESTION # 67
A tenant is renting 4,000 square feet of space in a commercial shopping center under a net lease. The base rent is $20 per square foot per annum, and there is a percentage rent of 5% of gross sales over the base rent. The tenant has annual gross sales of $1,000,000. The annual expenses are $10 per square foot. How much annual base rent does the tenant have to pay?

A. $130,000
B. $120,000
C. $80,000
D. $60,000

Answer: C

NEW QUESTION # 68
Which of the following is a reason why an owner might consider redeveloping an industrial property?

A. The existing building no longer provides the highest and best use of the site.
B. The cost of relocating is low.
C. A redevelopment will seriously disrupt the current operation.
D. A similar building can be bought at a low price.

Answer: A

NEW QUESTION # 69
......

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