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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Which of the following is TRUE?

A) Virginia does enforce rent control, but only in large cities.
B) Virginia enforces rent control state-wide.
C) Virginia does not enforce rent control.
D) Virginia does enforce rent control, but only for commercial properties.

2. Which of these describes a leasehold estate?

A) Terrence occupies an apartment he doesn't own. He pays his landlord rent every month.
B) Janet owns a property she inherited from her father. There's a stipulation on the deed that it is only to be used for a residence. Otherwise, it reverts to him.
C) Shannon lives in her uncle's apartment and has the right to occupy it for the remainder of her life. After that, the property reverts back to her uncte.
D) Jung owns a building. He lives upstairs and runs the store downstairs.

3. An licensee in Virginia writes an online ad. It MUST include all of the below:

A) the licensee's name, the name of the firm in which the licensee is active, and the city and state in which the licensee's place of business is located
B) the licensee's name, the name of the firm in which the licensee is active, the city and state in which the licensee's place of business is located, and the licensee's phone number
C) the licensee's name and the name of the firm in which the licensee is active
D) the licensee's name, and the city and state in which the licensee's place of business is located

4. A partially amortizing loan will include:

A) non-refinancing clauses
B) equal monthly payments that contribute to both principal and interest until the
C) multiple lenders
D) a balloon payment

5. An opinion of title, a certificate of title, a Torrens certificate, and title insurance are all examples of:

A) equitable title
B) evidence of title
C) chain of title
D) cloud on a title

Solutions: