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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

Question 1

If a partner is only an investor and only has liability up to the amount of their investment, they are considered a:

A. general partner
B. tenant in common
C. tenant in partnership
D. limited partner

Question 2

In Virginia, agents practicing no agency (transaction coordinators) are sometimes referred to as:

A. dual agents
B. appraisers
C. intermediaries
D. single agents

Question 3

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

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

Question 4

Lillian is buying a home for $355,000. She is going to put down $75,000 as her down payment on her conventional loan. Will Lillian be required to pay private mortgage insurance?

A. No, but it depends solely on her credit score.
B. Yes, PMI is required until she reaches 50% equity.
C. Yes, her down payment does not meet the requirements to eliminate PMI.
D. No, her down payment is large enough to avoid PMI.

Question 5

You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?

A. $360.000-$375,000
B. $300,000-$330,000
C. $345.000-$360.000
D. $330.000-$345,000

Solutions: