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

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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Disclosure is an important part of a brokerage's duties and responsibilities. Which of the following is NOT an important disclosure all brokerages should make?

A) disclosure of all offers
B) disclosure of financial condition
C) disclosure of an area's demographics of race and ethnicity
D) disclosure of agency

2. What is a marketable title?

A) the official opinion of an attorney regarding the condition of a property's title
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) an abbreviated history of a property, including information on any transfers, grants, wills, conveyances, liens, and encumbrances
D) constructive or actual notice of real property ownership

3. Which of these ownership concepts gives each co-owner the right to possession of the whole property?

A) undivided interest
B) equitable interest
C) sole proprietorship
D) unity of time

4. What do ostensible agency and agency by estoppel have in common?

A) They both arise when a third party correctly believes that agency exists between a principal and an agent.
B) They both concern a third party's decision to go unrepresented in a transaction.
C) They both arise when a third party is ted to mistakenly believe that agency exists between a principal and an agent.
D) They are both forms of third-party agency no longer recognized in the U.S.

5. Who regulates fair housing advertising?

A) HUD
B) CRA
C) HMDA
D) ECOA

Solutions: