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Humber College PREX-1060A dumps - in .pdf
- Exam Code: PREX-1060A
- Exam Name: Exam 4: Invigilated Theory Exam
- Updated: Sep 26, 2026
- Q & A: 108 Questions and Answers
- PDF Price: $59.99
- Free Demo
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- Exam Code: PREX-1060A
- Exam Name: Exam 4: Invigilated Theory Exam
- Updated: Sep 26, 2026
- Q & A: 108 Questions and Answers
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Humber College PREX-1060A dumps - Testing Engine
- Exam Code: PREX-1060A
- Exam Name: Exam 4: Invigilated Theory Exam
- Updated: Sep 26, 2026
- Q & A: 108 Questions and Answers
- Software Price: $59.99
- Testing Engine
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Humber College PREX-1060A Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Plan Administration and Compliance | 10% | - Reporting requirements - Plan termination rules - Responsibilities of providers and subscribers |
| Government Grants and Incentives | 20% | - Canada Learning Bond (CLB) - Provincial programs - Canada Education Savings Grant (CESG) |
| Contribution Rules and Limits | 25% | - Excess contributions and penalties - Carry-forward provisions - Annual and lifetime contribution limits |
| RESP Fundamentals | 30% | - Definition and purpose of RESP - Basic rules and regulations - Key parties involved |
| Withdrawals and Distributions | 15% | - Tax treatment - Educational vs non-educational withdrawals - Impact on grants |
Humber College Exam 4: Invigilated Theory Sample Questions:
Question #1
Asset sale and share sale are two different ways to sell a business. Which statement describes an asset sale?
- A. The buyer is eligible for tax deductions and benefits by claiming capital cost allowance on depreciable property.
- B. The seller benefits from a tax standpoint since any gain to the seller on the sale will be considered under the capital gains tax exemption.
- C. The buyer assumes all assets and accepts all liabilities of the business.
- D. The buyer replaces the seller as the owner of the corporation.
Correct Answer: A 🗳️
Question #2
A seller provides you with architectural drawings of their building. Which statement is NOT correct?
- A. Other types of source documents include surveys and tax records.
- B. If changes are made to source documents, they are still valid if you have the original document.
- C. A photocopy of a source document can be used to verify information.
- D. Architectural drawings are source documents.
Correct Answer: B 🗳️
Question #3
A salesperson is preparing to list an industrial building and wants to assess the availability and size of utilities, as these factors may prohibit a change in use for the potential buyer. Which of the following is correct?
- A. The salesperson should conduct a visual inspection of the building to determine the specifications of the utilities.
- B. 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.
- C. The seller may have up-to-date documentation about the utilities but, in some situations, a third-party professional assessment is still needed.
- D. If the information on the subject building's utilities is available, then a potential buyer will not put a condition in the offer.
Correct Answer: C 🗳️
Question #4
Which of the following accurately describes a landlord's commercial property insurance coverage?
- A. A landlord's commercial property insurance policy should cover the loss of the property's equity due to a change in market conditions or to a recession.
- B. A landlord's commercial property insurance policy should cover the loss of the tenant's assets and income due to business interruption as the result of a fire or flood.
- C. A landlord's commercial property insurance policy should cover the loss of the tenant's assets due to theft from their employees or third parties.
- D. A landlord's commercial property insurance policy should cover the loss of rental income in the event of a fire, for the period the premises is vacant while repairs are made.
Correct Answer: D 🗳️
Question #5
Which of the following is a risk associated with investing in commercial real estate?
- A. The relative lack of liquidity
- B. The insufficiency of cash flow during the holding period
- C. The fact that rent, leased space, and building size are fixed
- D. The relative lack of capital growth during the holdover period
Correct Answer: A 🗳️
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