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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:
1. Which of the following is TRUE?
A) Virginia enforces rent control state-wide.
B) Virginia does enforce rent control, but only in large cities.
C) Virginia does not enforce rent control.
D) Virginia does enforce rent control, but only for commercial properties.
2. The subject property has a pool valued at $30,000 and two bathrooms valued at $10,000 each. Comp 1 does not have a pool and has one less bathroom than the subject property.
What adjustments should be made to Comp 1's value?
A) add $20,000 to Comp 1's value
B) subtract $20,000 from Comp 1's value
C) add $40,000 to Comp 1's value
D) subtract $40,000 from Comp 1's value
3. Which of the following is a unique quality of limited service agents in Virginia?
A) Limited service agents can assist in residential transactions ONLY.
B) Limited service agents can assist in neither residential nor commercial transactions.
C) Limited service agents can assist in commercial transactions ONLY.
D) Limited service agents can assist in both residential and commercial transactions.
4. Which of these types of loans can always be sold on the secondary mortgage market?
A) loans originated by Fannie Mae
B) conforming loans
C) non-conforming loans
D) jumbo loans
5. What is a marketable title?
A) constructive or actual notice of real property ownership
B) a title free from significant encumbrances or defects (such as liens) that might prevent a purchaser from enjoying or eventually selling the property
C) the official opinion of an attorney regarding the condition of a property's title
D) an abbreviated history of a property, including information on any transfers, grants, wills, conveyances, liens, and encumbrances
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: B |
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