Online Access Free HumberCollege.PREX-1060A.v2024-11-29.q39 Practice Test (Page 6)

PREX-1060A Exam Question 21

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 the ownership of the building a corporation or a partnership?

B.What is the construction cost of the building?

C.Is inventory included in the sale of this business?

D.Is there any easement on the property?

PREX-1060A Exam Question 22

In regard to equipment at an industrial property that is being shown for sale, a salesperson representing a buyer should do all of the following, EXCEPT:

A.Obtain clarification as to which equipment seen during the showing will be included in the purchase price of the property.

B.Ensure they are informed as to whether the equipment shown will be relevant for the buyer's intended use.

C.Ensure chattels or fixtures are not included in the sale or negotiated for in the agreement.

D.Contact the seller's representative prior to the showing to gain awareness of safety and compliance requirements.

PREX-1060A Exam Question 23

Which of the following is NOT determined by zoning bylaws?

A.The types of buildings that are permitted in a location, their height, and how they may be used

B.Lot dimensions and parking requirements

C.The amount of rent a building may generate

D.Where buildings and other structures may be located

PREX-1060A Exam Question 24

A salesperson discusses with a buyer the potential advantages of purchasing brownfields for redevelopment.
What is NOT an advantage for the buyer of a brownfield property?

A.Brownfield properties typically have the advantage of existing infrastructure such as roads, utilities, water/sewer servicing, schools, and transit facilities.

B.An owner who rehabilitates a brownfield property can receive tax incentives.

C.The contaminants in brownfields contain precious metals that can be sold to earn additional income.

D.Brownfield properties can often be purchased at well below their potential market value.

PREX-1060A Exam Question 25

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.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.

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.A designated appraiser will use all factual sales data to determine the value of the current highest and best use of the property.

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PREX-1060A Exam Question 21

PREX-1060A Exam Question 22

PREX-1060A Exam Question 23

PREX-1060A Exam Question 24

PREX-1060A Exam Question 25

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