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

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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Ben would like to construct a restaurant on a parcel of land. This particular parcel is not zoned for commercial use. Ben should go to the city and seek a(n):

A) encroachment
B) deferrence
C) use variance
D) exemption

2. What is the difference between assemblage and plottage?

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

3. Rosa is trying to get approved for a loan so she can purchase a new home. What type of value will the lender use to determine whether or not to approve Rosa's loan?

A) assessed value
B) insurable value
C) market value
D) appraised value

4. In Virginia, the grantor tax rate is currently $0.50 per $500 of the sales price. How much would the taxes be on a $756,000 home purchase?

A) $1,512
B) $756
C) $15,120
D) $7,560

5. 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) sales contract with a contingency
B) lease-option agreement
C) cooperative sales contract
D) land trust

Solutions: