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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. If a condo owner is selling their unit, which of these documents should they present to a buyer?

A) resale certificate
B) Closing Disclosure
C) Loan Estimate
D) HUD-1

2. A home is being sold "as is." Evaluate this situation.

A) The seller does not have to disclose any defects to the buyer.
B) The seller is indicating that they believe their home to be in pristine condition.
C) The seller is planning to tear down the house before closing.
D) The seller is signaling that they do not want to do any repairs, regardless of what is found in the inspection.

3. What is the difference between assemblage and plottage?

A) Assemblage involves combining parcels of land, and plottage involves splitting parcels of land.
B) Assemblage is the act of combining parcels of land, and plottage is the resulting increase in value.
C) Assemblage is the act of building a new building, and plottage is the act of creating a new parcel of land.
D) Assemblage is the first step in creating a new subdivision, and plottage is the second step.

4. Rosa is trying to get approved for a loan so she can purchase a new home. What type of value will the lender use to determine whether or not to approve Rosa's loan?

A) insurable value
B) market value
C) assessed value
D) appraised value

5. The consummation of a real estate sale is known as the:

A) offer and acceptance
B) option period
C) signing of the contract
D) closing

Solutions: