Free and Premium Humber College PREX-1060A Dumps Questions Answers

Storage

Kitchens/lunchrooms

Fitting rooms

Boardrooms, private offices, and workstations

Clay production is an example of light industrial use.

Light industrial use usually results in more noise and heavier traffic.

Heavy industrial use can produce more pollution than other commercial activities.

Heavy industrial use usually results in less traffic in and out of the heavy industrial zone.

An ESA is intended to determine if a property has been contaminated or is facing any environmental threats.

Every new commercial property must undergo an ESA prior to construction.

ESAs are regulated under the Canadian Environmental Protection Act.

Local building departments use ESAs as the basis for changes to municipal zoning bylaws.

The salesperson should advise the buyer to consider the price of their products.

The salesperson should advise the buyer to consider the space they will need to allot for storage versus customer-facing product.

The salesperson should advise the buyer to consider their business's predicted monthly inventory.

The salesperson should advise the buyer to consider the size of their products.

Use a laser measuring device to take the measurements.

Recommend the services of third-party professionals to measure it.

Tell the seller the usable size is 80 percent of the rentable size.

Add a disclaimer to protect the seller from any discrepancy.

The condition of goods, chattels, and fixtures cannot be verified

Income and expense statements contain misrepresentations

The seller provides insufficient due diligence documents

The seller discloses all liabilities of the business in writing

The relative lack of liquidity

The relative lack of capital growth during the holdover period

The fact that rent, leased space, and building size are fixed

The insufficiency of cash flow during the holding period

The tenant's signage must be approved by the municipality and the landlord, and all associated costs shall be paid by the landlord.

The tenant's signage is considered a trade fixture and shall remain the tenant's property.

The tenant's signage shall be immediately removed at the end of their lease term(s) at the tenant’s expense.

The tenant's signage, from approvals to installation and ongoing maintenance, shall be at thetenant's own expense.

Unaudited financial statements are prepared by Chartered Professional Accountants; audited financial statements are prepared by senior Chartered Professional Accountants.

Audited financial statements provide an accurate picture of the financial status of a business; unaudited financial statements may only contain partially reviewed information.

Unaudited financial statements are prepared by accounting students; audited financial statements are completed by accountants who have received their professional designation.

Audited financial statements comply with Generally Accepted Accounting Principles (GAAP); unaudited financial statements do not comply with GAAP.

Shareholder’s equity

Assets

Liabilities

Net operating income

The salesperson should attempt to identify signs of contamination on the property and recommend an appropriate third-party expert to the seller client.

The salesperson should include the information in the marketing material as it would be beneficial for an auto sales business to have a garage located nearby.

The salesperson should ask the owner of the garage for more information and what course of action they recommend to assist a future purchaser of the site.

The salesperson should ask the owner of the garage whether they have thought about selling their property at this time.

Agrees to pay additional rent for a gross lease.

Cannot withhold rental payments even if the landlord does not comply with their obligations under the lease.

Agrees to pay any percentage rent a landlord demands, regardless of sales revenue.

Cannot pay rent to the property manager and must pay directly to the property owner.

Zoning bylaws specify the permitted land uses throughout a municipality.

Municipal zoning bylaws overrule all other laws with respect to land uses and issuance ofbuilding permits in Ontario.

New commercial construction and redevelopment must comply with zoning bylaws.

Municipalities have zoning bylaws that divide the city into different land uses or zones.

Comprises a blend of old and new stores

Must be located in a small, older community

Consists of newer, free-standing buildings only

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

Quick turnaround time to free up capital when needed is an advantage of owning commercial real estate.

Limited equity investment while gaining leverage through financing is an advantage of owning commercial real estate.

Potential to recover capital through refinancing is an advantage of owning commercial real estate.

Potential for tax sheltering possibilities for the investor is an advantage of owning commercial real estate.

Is there any easement on the property?

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

What is the construction cost of the building?

Is inventory included in the sale of this business?

A description of the premises

The names of all the tenant's suppliers

The commencement date of the lease

The names of all parties to the lease

A company’s adjusted book value should be equal to the actual market value of the business.

The adjusted book value method should not be used when the sale of a business is being implemented or is under consideration.

A company’s adjusted book value is entirely unrelated to its net worth.

The adjusted book value method takes goodwill into account when establishing the value of a business.

A list of customers who have purchased products in the last 60 months or since the business was acquired.

A statement of the expenses for the business for the past year or since the business was acquired.

A list of equipment, chattels, and fixtures that are included with the business.

An income statement for the past 12 months or since the business was acquired.

An Ontario Land Surveyor can be hired to measure the space.

Space should be measured in accordance with BOMA standards.

An architect can be hired to measure the space.

The original plans should be used to determine the size of a unit.

A surveyor’s certificate for the unit

An opinion from the seller's lawyer

A sketch of the seller’s floor layout

An opinion from the property manager

Meet with the property manager, review the lease, and determine a course of action.

Repair the damage and deduct the cost from the rent.

Contact a lawyer and immediately start a legal action for damages.

Terminate the lease and start looking for a new space.

If the builder does not address this issue, the buyers can file a complaint with the provincial warranty authority for any outstanding work the builder did not complete.

The buyers should submit their concerns to the provincial warranty authority, as they are entitled to one-year warranty coverage from the occupancy date.

There is no provincial warranty coverage for commercial condominiums, but the buyers can inquire with the builder about any warranties that they may offer.

The buyers should draft a list of all their concerns and submit them to the municipality for appropriate coverage.

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

Lot dimensions and parking requirements

The amount of rent a building may generate

Where buildings and other structures may be located

The salesperson should explain that clear span refers to the amount of floor area that is clear of interference from columns and walls.

The salesperson should explain that clear span refers to the unobstructed vertical distance from the floor to the bottom of the lowest ceiling or roof component.

The salesperson should explain that clear span refers to the unobstructed vertical distance from the floor to the bottom of the highest point of the ceiling or roof component.

The salesperson should explain that clear span refers to the total amount of floor area in the space, including the space that is occupied between columns and walls.

The salesperson should clearly list all rental items and service contracts, as these will not be included in the purchase price of the real property being purchased.

The salesperson should specifically exclude all fixtures that are not a part of the transaction since fixtures are considered a part of the property and are normally included in the purchase price.

The salesperson should clearly describe and list the fixtures and chattels in the Agreement of Purchase and Sale and mark each item as an exclusion or inclusion.

The salesperson should specifically exclude all chattels that are not a part of the transaction since chattels are considered a part of the property and are normally included in the purchase price.

If the information on the building's utilities is not available, the salesperson can determine it by finding out the specifications of the utilities of the neighbors.

If the information on the subject building’s utilities is available, then a potential buyer will not put a condition in the offer.

The salesperson should conduct a visual inspection of the building to determine the specifications of the utilities.

The seller may have up-to-date documentation about the utilities but, in some situations, a third-party professional assessment is still needed.

A clause to obtain the necessary mortgage amount

A clause to test the quality of the underground water source

A clause to check the condition of the trucks and vans

A clause to ensure the truck parking spaces and turning radius are sufficient

Surrounding uses

Financial health of the company

Demographics

Traffic counts

Economic development offices can provide you with real property information regarding tax assessments and how to appeal your real estate taxes.

Economic development offices provide background information on local, provincial, and federal research and development incentives.

Economic development offices have important resources for those seeking suitable commercial sites for business operations.

Economic development offices can help guide development applications through municipal processes and streamline the approvals process for companies unfamiliar with regulatory requirements.

They carry on a farming business generating a net profit of $100,000.

They have a valid harmonized sales tax (HST) registration number under the Excise Tax Act.

They are Canadian citizens or permanent residents of Canada.

They submit the appropriate application semi-annually.

The salesperson should attempt to identify signs of contamination on the property and recommend an appropriate third-party expert to the seller client.

The salesperson should include the information in the marketing material as it would be beneficial for an auto sales business to have a garage located nearby.

The salesperson should ask the owner of the garage for more information and what course of action they recommend to assist a future purchaser of the site.

The salesperson should ask the owner of the garage whether they have thought about selling their property at this time.

Energy efficiency

Innovative elements

Sustainability

Vacancy rate

Serving separate waivers

Serving one waiver

Serving separate notices of fulfillment

Serving one notice of fulfillment

A key consideration a salesperson must keep in mind when handling the sale of a business is operating licenses.

Depending on the business location, there are various municipal bylaws, zoning, permits, and other rules and regulations that could impact the sale of a business.

There are various municipal bylaws that could impact the sale of a business, depending on the business activity.

If a municipal license is associated with the business and it may be transferrable to the buyer, then it is of no concern to the sales representative.

The salesperson should tell their client that higher management fees charged for a building always indicates that the tenant is getting superior service and value.

The salesperson should explain that a tenant occupying a smaller rentable area in a building pays higher management fees per square foot compared to a tenant with an average or larger rentable area.

The salesperson should identify the reasons for high management fees charged for a building and determine the relative value it provides.

The salesperson should tell the tenant that the Condominium Authority of Ontario regulates management fees charged by buildings as per their size.