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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What is a management proposal?

A) a report prepared by the property manager that informs the property owner(s) of their property's expenses, income, and disbursements
B) a plan a property manager creates for managing a property, including an analysis of the market, financial standing, and operating budget
C) a subdivision plan that includes residential dwellings along with nonresidential real estate
D) a budget for variable expenses

2. Contracts for the initial purchase of a cooperative interest may be rescinded without penalty how many days after either contract ratification or receipt of the POS?

A) 5 days
B) 14 days
C) 10 days
D) 21 days

3. A licensee could be found liable for all of the following EXCEPT:

A) attempting to conceal a known latent defect
B) failure to disclose a latent defect that the licensee should have reasonably known
C) failure to disclose an unknown latent defect in an inaccessible location
D) failure to disclose a known latent defect to the buyer

4. The four phases of an environmental site assessment are, in order:

A) testing, investigation, remediation, management
B) investigation, testing, remediation, management
C) remediation, investigation, testing, management
D) management, investigation, testing, remediation

5. The title of a fee simple determinable estate reverts automatically if title conditions are violated. How do fee simple condition subsequent estates compare?

A) Ownership of condition subsequent estates reverts automatically, as it does with determinable estates, but it takes longer to process.
B) If title conditions are violated, condition subsequent estates require Supreme Court action, specifically, for estate ownership to revert.
C) If title conditions are violated, condition subsequent estates require legal action for estate ownership to revert.
D) Ownership of condition subsequent estates reverts automatically, as it does with determinable estates.

Solutions: