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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Which of these describes a leasehold estate?

A) Jung owns a building. He lives upstairs and runs the store downstairs.
B) Janet owns a property she inherited from her father. There's a stipulation on the deed that it is only to be used for a residence. Otherwise, it reverts to him.
C) Shannon lives in her uncle's apartment and has the right to occupy it for the remainder of her life. After that, the property reverts back to her uncte.
D) Terrence occupies an apartment he doesn't own. He pays his landlord rent every month.

2. An appraiser will most likely follow all of these steps in their appraisal, EXCEPT:

A) estimating the land value
B) reconciling the value estimates
C) setting a listing price for the property
D) gathering and recording data

3. If a condo owner is selling their unit, which of these documents should they present to a buyer?

A) Loan Estimate
B) Closing Disclosure
C) HUD-1
D) resale certificate

4. Which of the following is NOT an option that a seller has after receiving a counteroffer?

A) allow the offer to expire
B) discharge the contract
C) accept the offer
D) reject the offer in writing

5. An licensee in Virginia writes an online ad. It MUST include all of the below:

A) the licensee's name, and the city and state in which the licensee's place of business is located
B) the licensee's name, the name of the firm in which the licensee is active, and the city and state in which the licensee's place of business is located
C) the licensee's name, the name of the firm in which the licensee is active, the city and state in which the licensee's place of business is located, and the licensee's phone number
D) the licensee's name and the name of the firm in which the licensee is active

Solutions: