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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Which of these types of loans can always be sold on the secondary mortgage market?

A) non-conforming loans
B) loans originated by Fannie Mae
C) conforming loans
D) jumbo loans

2. 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) executed and void
B) executory and voidable
C) executory and void
D) executed and voidable

3. A legally competent party to a contract will:

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

4. Mindy experienced a foreclosure process that included being named as a defendant in a lawsuit by her lender and seeing her home sold in a foreclosure sale. From that information, what can you guess about the category of foreclosure used and who holds the title to the property?

A) A nonjudicial foreclosure was necessary because Mindy holds the title.
B) A judicial foreclosure was necessary because Mindy holds the title.
C) A nonjudicial foreclosure was necessary because a trustee holds the title.
D) A judicial foreclosure was necessary because the lender holds the title.

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 three-bedroom, two-and-a-half bath, 15-year-old property located 20 miles away that sold 12 weeks ago
D) a six-bedroom, four-bath, newly built property located a quarter mile away that sold six weeks ago

Solutions: