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

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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

Question #1
Who regulates fair housing advertising?

A. ECOA
B. HUD
C. HMDA
D. CRA

Question #2
An appraiser will most likely follow all of these steps in their appraisal, EXCEPT:

A. setting a listing price for the property
B. estimating the land value
C. gathering and recording data
D. reconciling the value estimates

Question #3
Vicarious liability is the common law concept that:

A. agents cannot be held liable for violating fiduciary duties, while brokers can
B. a person is liable for the actions of those acting with authority on that individual's behalf
C. brokers are free from taking responsibility for their agents' actions
D. license holders may ONLY be held liable if violations are brought to court

Question #4
If a condo owner is selling their unit, which of these documents should they present to a buyer?

A. Loan Estimate
B. Closing Disclosure
C. HUD-1
D. resale certificate

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

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

Solutions: