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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: National Portion | 67% | - Land Use Controls and Regulations - General Principles of Agency - Transfer of Title - Financing - Real Estate Calculations - Practice of Real Estate - Property Condition and Disclosures - Valuation and Market Analysis - Contracts - Property Ownership |
| Topic 2: Virginia State Portion | 33% | - Virginia Fair Housing Law and Regulations - Agency Definitions and Relationships - Disclosure Requirements - Licensing Requirements and Regulations - Specific Acts Governing Real Estate Practice - Escrow Accounts and Trust Funds |
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) Loan Estimate
B) Closing Disclosure
C) HUD-1
D) resale certificate
2. Which of these is a person who is licensed to represent one of the parties in a real estate transaction in exchange for a commission or other valuable consideration?
A) assistant broker
B) appraiser
C) broker
D) salesperson
3. What form of co-ownership features individual, undivided interest in the property and includes rights of inheritance rather than survivorship?
A) tenancy in common
B) severalty
C) tenancy by the entirety
D) joint tenancy
4. Which of the following is correct about implied and express contracts?
A) Implied contracts can be legally binding, while express contracts cannot.
B) Implied contracts explicitly state the terms of the contract, while express contracts are established by the parties' actions.
C) Express contracts can be legally binding, while implied contracts cannot.
D) Express contracts explicitly state the terms of the contract, while implied contracts are established by the parties' actions.
5. In Virginia, how many years do records need to be kept for?
A) five years
B) one year
C) two years
D) three years
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: D |
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