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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Contracts | - Real estate contracts
|
| Topic 2: Real Estate Calculations | - Math applications
|
| Topic 3: Virginia Law & Regulations | - State-specific rules
|
| Topic 4: Real Estate Practice & Ethics | - Professional conduct
|
| Topic 5: Valuation and Market Analysis | - Appraisal concepts
|
| Topic 6: Financing | - Mortgage concepts
|
| Topic 7: Land Use Controls & Regulations | - Government restrictions
|
| Topic 8: Property Ownership | - Types of ownership
|
| Topic 9: Agency Relationships | - Broker-client relationships
|
Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:
1. A deed in lieu of foreclosure is often referred to as a "friendly foreclosure" because:
A) This alternative to foreclosure only takes place when the foreclosure sale buyer is a friend or family member.
B) This alternative to foreclosure requires the agreement and cooperation of both lender and borrower.
C) This alternative to foreclosure is handled by legal representatives known as "friends of the court."
D) This alternative to foreclosure is an option only available to friends or family of the lender.
2. Rosa is trying to get approved for a loan so she can purchase a new home. What type of value will the lender use to determine whether or not to approve Rosa's loan?
A) appraised value
B) insurable value
C) market value
D) assessed value
3. Ben would like to construct a restaurant on a parcel of land. This particular parcel is not zoned for commercial use. Ben should go to the city and seek a(n):
A) deferrence
B) exemption
C) use variance
D) encroachment
4. Alex is supposed to decide by 6 p.m. Tuesday if she wants to exercise her option to terminate the purchase agreement of the home she is buying. Alex can't make up her mind, but on Wednesday, 10 a.m., she finally makes a decision: She wants to terminate. Can she?
A) Yes, because the phrase "caveat emptor" is included in the contract.
B) No, because the phrase "time is of the essence" is included in the contract.
C) Yes, because the phrase "subject to" is included in the contract.
D) No, because the phrase "as is" is included in the contract.
5. In Virginia, agents practicing no agency (transaction coordinators) are sometimes referred to as:
A) intermediaries
B) appraisers
C) dual agents
D) single agents
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: A |
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