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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The purpose of discount points is:

A) to lock in an interest rate for a specified time prior to closing
B) to lower the amount due at closing
C) to lower the interest rate over the life of the loan
D) to lower the property value for purposes of tax savings

2. Janay lives in and is licensed as a salesperson in North Carolina but wants to practice real estate in Virginia. Which of the following is true?

A) The REB does not recognize or transfer licenses from other states, so Janay will need to complete all salesperson pre-licensure requirements.
B) The REB will require Janay to take a special licensing course for out-of-state residents.
C) The REB requires real estate professionals to have residency in the state of Virginia, so Janay cannot practice in Virginia.
D) Janay only needs to take and pass the state portion of the licensing exam.

3. What was the outcome of Plessy v. Ferguson?

A) The Supreme Court decided that "separate but equal" separation of the races was legal as long as Black and white facilities were equal.
B) The Supreme Court decided that racial segregation of children in public schools was illegal.
C) The Supreme Court decided that the enforcement of racially based restrictive covenants was illegal.
D) The Supreme Court decided that racially based zoning was illegal.

4. Which of the following provides the BEST explanation for why disclosure of material facts is required?

A) Not all material facts are readily discernible.
B) The material a property is made of can influence its value.
C) All facts related to a real estate transaction must be disclosed.
D) If known, they could cause a buyer or seller to take a different course of action.

5. A type of (usually commercial) lease in which the tenant pays a base rent amount and a percentage of their business profits to the landlord is a:

A) ground lease
B) percentage lease
C) net lease
D) gross lease

Solutions: