Real Estate Licensing Virginia-Real-Estate-Salesperson Actual Tests : 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. Sellers and license holders are required to disclose lead- based paint hazards on all properties built before:

A) 1978
B) 1974
C) 1976
D) 1972

2. When the CFPB introduced the new TRID rules integrating RESPA and TILA rules, what two disclosure forms did they mandate lenders provide to borrowers?

A) the Good Faith Estimate and the HUD-1
B) the Loan Estimate and the Closing Disclosure
C) the Settlement Statement and the Loan Disclosure
D) the TILA disclosure and the RESPA disclosure

3. The relationship between a property manager and the property owner is most comparable to that of a:

A) salesperson with their broker
B) tenant with a landlord
C) stockholder with the board of directors of a corporation
D) cashier with the owner of a store

4. In Virginia, a supervising broker is:

A) a broker who has been designated by a principal broker to oversee the provision of real estate brokerage services by associate brokers and salespersons assigned to a branch office or a real estate team
B) a broker who opts to work under another broker and has no agents assigned to them
C) the licensed broker of a firm who takes responsibility for the actions of the firm and licensees; there is only one in the firm
D) a broker who is NOT affiliated with the brokerage representing a principal in a real estate transaction

5. The consummation of a real estate sale is known as the:

A) option period
B) offer and acceptance
C) signing of the contract
D) closing

Solutions: