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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. If a condo owner is selling their unit, which of these documents should they present to a buyer?

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

2. Which of the following is TRUE?

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

3. 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 judicial foreclosure was necessary because the lender 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 nonjudicial foreclosure was necessary because Mindy holds the title.

4. An appraiser will most likely follow all of these steps in their appraisal, EXCEPT:

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

5. Which of these is an example of a deed restriction?

A) The city denies Darren a permit to open a pawn shop in a residential area.
B) Donald is required by the municipal government to have a certain number of bathrooms in his business.
C) A restriction in one subdivision development specifies that no boats or recreational vehicles may be kept on the street, driveway, or lot.
D) Demi is required to file an environmental impact statement with the city before building a new subdivision.

Solutions: