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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: National Portion | 67% | - Financing - Contracts - Property Condition and Disclosures - Valuation and Market Analysis - Real Estate Calculations - Practice of Real Estate - Transfer of Title - General Principles of Agency - Property Ownership - Land Use Controls and Regulations |
| Topic 2: Virginia State Portion | 33% | - Escrow Accounts and Trust Funds - Specific Acts Governing Real Estate Practice - Virginia Fair Housing Law and Regulations - Disclosure Requirements - Agency Definitions and Relationships - Licensing Requirements and Regulations |
Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:
Which of the following discussions is a violation of antitrust laws and is also an anti-competitive practice?
- A. two brokers discussing how to cooperate more effectively in a specific real estate transaction
- B. two brokers discussing new laws enacted in their county
- C. brokers agreeing to not show a certain broker's listings to their clients because they don't like that broker
- D. brokers commenting on the siding color on a newly listed home in their area
Correct Answer: C 🗳️
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A partially amortizing loan will include:
- A. equal monthly payments that contribute to both principal and interest until the
- B. multiple lenders
- C. a balloon payment
- D. non-refinancing clauses
Correct Answer: C 🗳️
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A legally competent party to a contract will:
- A. not be mentally incompetent or intoxicated by drugs or alcohol and have legal representation
- B. have reached the age of majority and be literate
- C. be literate and not be mentally incompetent or intoxicated by drugs or alcohol
- D. have reached the age of majority and not be mentally incompetent or intoxicated by drugs or alcohol
Correct Answer: D 🗳️
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What is a marketable title?
- A. a title free from significant encumbrances or defects (such as liens) that might prevent a purchaser from enjoying or eventually selling the property
- B. constructive or actual notice of real property ownership
- 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
Correct Answer: A 🗳️
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A building has an NOI of $130,000 and is being valued with a cap rate of 4%. Using the income approach, what is the value of the building?
- A. $2.450,000
- B. $4,130,000
- C. $3.250,000
- D. $1,300.000
Correct Answer: C 🗳️
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