Virginia Real Estate Salesperson Exam: Virginia-Real-Estate-Salesperson Exam


"Virginia Real Estate Salesperson Exam", also known as Virginia-Real-Estate-Salesperson exam, is a Real Estate Licensing Certification. With the complete collection of questions and answers, PrepAwayTest has assembled to take you through 125 Q&As to your Virginia-Real-Estate-Salesperson Exam preparation. In the Virginia-Real-Estate-Salesperson exam resources, you will cover every field and category in Real Estate Licensing Certification Certification helping to ready you for your successful Real Estate Licensing Certification.

  • Exam Code: Virginia-Real-Estate-Salesperson
  • Exam Name: Virginia Real Estate Salesperson Exam
  • Total Questions: 125

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

SectionObjectives
Topic 1: Agency Relationships- Broker-client relationships
  • 1. Fiduciary duties
    • 2. Disclosure requirements
      Topic 2: Virginia Law & Regulations- State-specific rules
      • 1. Virginia real estate statutes
        • 2. DPOR licensing rules
          Topic 3: Real Estate Calculations- Math applications
          • 1. Area and valuation calculations
            • 2. Commissions and prorations
              Topic 4: Financing- Mortgage concepts
              • 1. Loan types and structures
                • 2. Lending regulations basics
                  Topic 5: Property Ownership- Types of ownership
                  • 1. Community vs separate property concepts
                    • 2. Joint tenancy / tenancy in common
                      Topic 6: Contracts- Real estate contracts
                      • 1. Purchase agreements
                        • 2. Listing agreements
                          Topic 7: Real Estate Practice & Ethics- Professional conduct
                          • 1. Fair housing laws
                            • 2. Ethical practices in transactions
                              Topic 8: Land Use Controls & Regulations- Government restrictions
                              • 1. Zoning and building codes
                                • 2. Environmental regulations
                                  Topic 9: Valuation and Market Analysis- Appraisal concepts
                                  • 1. Valuation approaches
                                    • 2. Comparative Market Analysis (CMA)

                                      Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

                                      Ernest is a third-party trustee who is holding a title for the lender of a home loan that is secured by a trust deed. The title gives Ernest limited rights sufficient to carry out the terms of the trust. What kind of title does Ernest hold?

                                      • A. clean title
                                      • B. dirty title
                                      • C. naked title
                                      • D. skinny title
                                      Answer: C

                                      Explanation: Only visible for PrepAwayTest members. You can sign-up / login (it's free).

                                      Which of these is a person who is licensed to represent one of the parties in a real estate transaction in exchange for a commission or other valuable consideration?

                                      • A. appraiser
                                      • B. broker
                                      • C. salesperson
                                      • D. assistant broker
                                      Answer: B

                                      Explanation: Only visible for PrepAwayTest members. You can sign-up / login (it's free).

                                      What does the VRLTA aim to do?

                                      • A. regulate owner-occupied REO properties in Virginia
                                      • B. establish uniform laws to regulate leasehold interests and improve leasing practices in Virginia
                                      • C. regulate landlord maintenance practices for industrial warehouses across the United States
                                      • D. monitor commercial leasing practices in Virginia
                                      Answer: B

                                      Explanation: Only visible for PrepAwayTest members. You can sign-up / login (it's free).

                                      In Virginia, the grantor tax rate is currently $0.50 per $500 of the sales price. How much would the taxes be on a $756,000 home purchase?

                                      • A. $756
                                      • B. $7,560
                                      • C. $15,120
                                      • D. $1,512
                                      Answer: A

                                      Explanation: Only visible for PrepAwayTest members. You can sign-up / login (it's free).

                                      The title of a fee simple determinable estate reverts automatically if title conditions are violated. How do fee simple condition subsequent estates compare?

                                      • A. If title conditions are violated, condition subsequent estates require Supreme Court action, specifically, for estate ownership to revert.
                                      • B. Ownership of condition subsequent estates reverts automatically, as it does with determinable estates.
                                      • C. Ownership of condition subsequent estates reverts automatically, as it does with determinable estates, but it takes longer to process.
                                      • D. If title conditions are violated, condition subsequent estates require legal action for estate ownership to revert.
                                      Answer: D

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