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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Which of these is a federal law that aims to protect people and the environment from the harmful effects of air pollution?

A) Superfund Amendments and Reauthorization Act
B) CERCLA
C) Clean Air Act
D) Safe Drinking Water Act

2. In Virginia, a supervising broker is:

A) a broker who is NOT affiliated with the brokerage representing a principal in a real estate transaction
B) a broker who has been designated by a principal broker to oversee the provision of real estate brokerage services by associate brokers and salespersons assigned to a branch office or a real estate team
C) the licensed broker of a firm who takes responsibility for the actions of the firm and licensees; there is only one in the firm
D) a broker who opts to work under another broker and has no agents assigned to them

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

4. Which of these is a reason a borrower might be offered a subprime loan by a lender?

A) Federal funds rates are high.
B) The borrower's credit report includes numerous delinquencies.
C) The home is in a low-income neighborhood.
D) A borrower's credit score is too high.

5. A deed in lieu of foreclosure is often referred to as a "friendly foreclosure" because:

A) This alternative to foreclosure only takes place when the foreclosure sale buyer is a friend or family member.
B) This alternative to foreclosure is an option only available to friends or family of the lender.
C) This alternative to foreclosure requires the agreement and cooperation of both lender and borrower.
D) This alternative to foreclosure is handled by legal representatives known as "friends of the court."

Solutions: