Virginia-Real-Estate-Salesperson by Real Estate Licensing Actual Free Exam Questions And Answers

Question 1

Harry, an agent, transfers some money from an escrow account into his personal savings accounts. What is he doing and is it legal or illegal?

A. This is commingling, and it is illegal.

B. This is conversion, and it is legal.

C. This is conversion, and it is illegal.

D. This is commingling, and it is legal.

Discussion 0

Correct Answer: C Vote an answer

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Question 2

What is the perimeter of a rectangular lot with the dimensions of 40 ft. x 50 ft .?

A. 200 ft.

B. 150 ft.

C. 90 ft.

D. 180 ft.

Discussion 0

Correct Answer: D Vote an answer

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Question 3

Peter and Ned co-own a type of real estate business together. This business is legally treated the same as a single person, meaning it is technically ownership in severalty. Peter and Ned are also not liable for the organization's debt. What type of business do Peter and Ned own?

A. sole proprietorship

B. general partnership

C. limited partnership

D. corporation

Discussion 0

Correct Answer: D Vote an answer

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Question 4

The purpose of discount points is:

A. to lower the amount due at closing

B. to lower the property value for purposes of tax savings

C. to lower the interest rate over the life of the loan

D. to lock in an interest rate for a specified time prior to closing

Discussion 0

Correct Answer: C Vote an answer

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Question 5

You're doing a CMA on a three-bedroom, two-bath, seven- year-old property. Choose the BEST comp from the following list:

A. a three-bedroom, two-bath, seven-year-old property located a quarter mile away that sold two years ago

B. a three-bedroom, one-bath, 12-year-old property located a quarter mile away that sold three months ago

C. a six-bedroom, four-bath, newly built property located a quarter mile away that sold six weeks ago

D. a three-bedroom, two-and-a-half bath, 15-year-old property located 20 miles away that sold 12 weeks ago

Discussion 0

Correct Answer: A Vote an answer

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Question 6

Which of the following discussions is a violation of antitrust laws and is also an anti-competitive practice?

A. brokers agreeing to not show a certain broker's listings to their clients because they don't like that broker

B. two brokers discussing new laws enacted in their county

C. two brokers discussing how to cooperate more effectively in a specific real estate transaction

D. brokers commenting on the siding color on a newly listed home in their area

Discussion 0

Correct Answer: A Vote an answer

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Question 7

What is the purpose of the Do Not Call Registry?

A. It has three main truth-in-advertising provisions.

B. It bans bait-and-switch ads.

C. It regulates telemarketing activities from commercial organizations.

D. It governs the use of commercial email advertising.

Discussion 0

Correct Answer: C Vote an answer

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Question 8

Marie agreed to a contract in which she can lease a house for a period of two years and then has the option to buy the home if she can secure financing. What type of contract is this?

A. lease-option agreement

B. land trust

C. sales contract with a contingency

D. cooperative sales contract

Discussion 0

Correct Answer: A Vote an answer

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Question 9

The duty of obedience does not include requests or instructions that are:

A. unnecessary

B. not put in writing

C. ethical and legal but not advisable

D. illegal or unethical in any way

Discussion 0

Correct Answer: D Vote an answer

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Real Estate Licensing Virginia Real Estate Salesperson - Virginia-Real-Estate-Salesperson Exam Practice Test

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