Real Estate Licensing Virginia Real Estate Salesperson : Virginia-Real-Estate-Salesperson

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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Four investors agree to co-ownership of an investment property. They have arranged the ownership structure so that if one of them dies, the decedent's ownership stake passes to the remaining investors. What form of co-ownership do the investors have?

A) tenants in common
B) joint tenancy
C) community property
D) sole ownership

2. John is a landlord. He has an applicant for an apartment who uses a cane. John tells her that she should go to the complex across the street, as they have more first-floor units available, and he doesn't want her to have to climb the stairs in his building. She thanks him for the tip. Evaluate.

A) John steered the applicant, but it was okay since she expressed appreciation.
B) John did nothing wrong. He simply evaluated the applicant and tried to do what was best for her.
C) John steered the applicant, which is never okay, even if she expressed appreciation.
D) John steered the applicant, which was a risky move, but it paid off this time.

3. Which of the following is a unique quality of limited service agents in Virginia?

A) Limited service agents can assist in residential transactions ONLY.
B) Limited service agents can assist in commercial transactions ONLY.
C) Limited service agents can assist in neither residential nor commercial transactions.
D) Limited service agents can assist in both residential and commercial transactions.

4. A legally competent party to a contract will:

A) have reached the age of majority and be literate
B) not be mentally incompetent or intoxicated by drugs or alcohol and have legal representation
C) have reached the age of majority and not be mentally incompetent or intoxicated by drugs or alcohol
D) be literate and not be mentally incompetent or intoxicated by drugs or alcohol

5. An licensee in Virginia writes an online ad. It MUST include all of the below:

A) the licensee's name, and the city and state in which the licensee's place of business is located
B) the licensee's name, the name of the firm in which the licensee is active, and the city and state in which the licensee's place of business is located
C) the licensee's name and the name of the firm in which the licensee is active
D) the licensee's name, the name of the firm in which the licensee is active, the city and state in which the licensee's place of business is located, and the licensee's phone number

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