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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What is unique about an exclusive right-to-sell listing agreement?

A) The broker represents both the seller and the buyer.
B) There are multiple brokers working to sell the same property.
C) The broker acts as a general agent for the client in all business dealings.
D) The broker gets compensation regardless of who sells the property.

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

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

3. Sellers and license holders are required to disclose lead- based paint hazards on all properties built before:

A) 1978
B) 1972
C) 1976
D) 1974

4. What is the legal doctrine by which the decedent's property will pass to the state without their consent if that individual dies without a will, a surviving spouse, lineal descendants, or other known heirs?

A) escheat
B) variance
C) eminent domain
D) police power

5. When must a lender provide borrowers with a Closing Disclosure?

A) at least three business days before the consummation of the loan
B) on the day of closing
C) at least five business days after consummation of the loan
D) at the end of the closing ceremony

Solutions: