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

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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Trystan and Nia enter into a contract for the sale of a tiny house. Trystan is 17. Closing is supposed to occur in two weeks. This contract is:

A) executory and voidable
B) executory and void
C) executed and voidable
D) executed and void

2. What is the difference between assemblage and plottage?

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

3. All of the following are examples of legal descriptions of property EXCEPT:

A) 8647 Notting Hill Drive, Berkshire, Colorado 52467
B) Lot A, Block 2 of Shady Tree Subdivision, Madison County, Wisconsin
C) Lot E, Block 14 of West Lake Village, Orange County, Texas
D) SW 1/4 of NW 1/4 of NE 1/2 of T3N R4E of Meridian 16

4. When must a lender provide borrowers with a Closing Disclosure?

A) at least five business days after consummation of the loan
B) on the day of closing
C) at the end of the closing ceremony
D) at least three business days before the consummation of the loan

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

Solutions: