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. In Virginia, how many years do records need to be kept for?

A) three years
B) one year
C) two years
D) five years

2. Which of these describes a leasehold estate?

A) Janet owns a property she inherited from her father. There's a stipulation on the deed that it is only to be used for a residence. Otherwise, it reverts to him.
B) Shannon lives in her uncle's apartment and has the right to occupy it for the remainder of her life. After that, the property reverts back to her uncte.
C) Terrence occupies an apartment he doesn't own. He pays his landlord rent every month.
D) Jung owns a building. He lives upstairs and runs the store downstairs.

3. 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

4. In Virginia, how many years do records need to be kept for?

A) three years
B) one year
C) two years
D) five years

5. 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.

Solutions: