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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Virginia State Portion | 33% | - Disclosure Requirements - Escrow Accounts and Trust Funds - Licensing Requirements and Regulations - Specific Acts Governing Real Estate Practice - Agency Definitions and Relationships - Virginia Fair Housing Law and Regulations |
| National Portion | 67% | - Contracts - Transfer of Title - Practice of Real Estate - Property Condition and Disclosures - Property Ownership - Financing - General Principles of Agency - Real Estate Calculations - Land Use Controls and Regulations - Valuation and Market Analysis |
Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:
Which of the following is correct about implied and express contracts?
- A. Implied contracts can be legally binding, while express contracts cannot.
- B. Express contracts explicitly state the terms of the contract, while implied contracts are established by the parties' actions.
- C. Implied contracts explicitly state the terms of the contract, while express contracts are established by the parties' actions.
- D. Express contracts can be legally binding, while implied contracts cannot.
Correct Answer: B 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
What would make claims based on a contract unenforceable?
- A. assignment, mediation, and arbitration
- B. specific performance, rescission, and forfeiture
- C. the statute of limitations and doctrine of laches
- D. mutual assent, lawful objective, and reality of consent
Correct Answer: C 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
In Virginia, agents practicing no agency (transaction coordinators) are sometimes referred to as:
- A. single agents
- B. appraisers
- C. intermediaries
- D. dual agents
Correct Answer: C 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
An opinion of title, a certificate of title, a Torrens certificate, and title insurance are all examples of:
- A. equitable title
- B. chain of title
- C. cloud on a title
- D. evidence of title
Correct Answer: D 🗳️
Explanation: Only visible for ExamPrepAway members. You can sign-up / login (it's free).
Alexa and Harrison have gone over every term and condition in the contract they have drawn up for the sale of Alexa's racehorse to Harrison. Neither party has any questions or desire to change anything about the agreement. Which essential element of a valid contract appears to have been realized?
- A. reality of consent
- B. consideration
- C. lawful objective
- D. mutual assent
Correct Answer: D 🗳️
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