Virginia Real Estate Salesperson Dumps (V8.02) – Achieve Success in the Actual Virginia Real Estate Salesperson Exam

1. Which of the following discussions is a violation of antitrust laws and is also an anti-competitive practice?

2. Which of these ownership concepts gives each co-owner the right to possession of the whole property?

3. What do ostensible agency and agency by estoppel have in common?

4. Why do lenders need liquidity?

5. Harry, an agent, transfers some money from an escrow account into his personal savings accounts.

What is he doing and is it legal or illegal?

6. Any non-natural structure built on or affixed to land is an:

7. Sellers and license holders are required to disclose lead- based paint hazards on all properties built before:

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

9. Lillian is buying a home for $355,000. She is going to put down $75,000 as her down payment on her conventional loan.

Will Lillian be required to pay private mortgage insurance?

10. The National Association of Realtors' Code of Ethics says

Realtors should act with:

11. In addition to evaluating borrower creditworthiness, to complete the loan approval process, the underwriter needs to evaluate the:

12. You're doing a CMA on a three-bedroom, two-bath, seven- year-old property. Choose the BEST comp from the following list:

13. Alana is renting a three-bedroom home for one year.

Alana is the:

14. The purpose of discount points is:

15. In order to protect the public interest, Virginia requires real estate professionals to get licenses.

What kinds of licenses are offered?

16. 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?

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

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

19. Which of the following provides the BEST explanation for why disclosure of material facts is required?

20. A form of insurance that protects the policyholder by covering any losses they might incur as a result of theft or fraud by specified individuals is:

21. If a partner is only an investor and only has liability up to the amount of their investment, they are considered a:

22. What rights govern the use of flowing water, such as rivers or streams?

23. In Virginia, a supervising broker is:

24. A partially amortizing loan will include:

25. What is a marketable title?

26. What does the VRLTA aim to do?

27. What is one way that a contract for deed differs from a standard real estate sales contract?

28. Who regulates fair housing advertising?

29. In Virginia, how many years do records need to be kept for?

30. Trystan and Nia enter into a contract for the sale of a tiny house. Trystan is 17. Closing is supposed to occur in two weeks.

This contract is:

31. A leasehold agreement where the base rent changes is called a:

32. What deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor?

33. Which of these is likely to be the lien with the highest priority?

34. Which of these is a person who is licensed to represent one of the parties in a real estate transaction in exchange for a commission or other valuable consideration?

35. A deed in lieu of foreclosure is often referred to as a "friendly foreclosure" because:

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

37. 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?

38. Which of these is a naturally occurring radioactive gas that emanates from rocks, soil, and water and can cause lung cancer?

39. In Virginia, agents practicing no agency (transaction coordinators) are sometimes referred to as:

40. Which of the following is a unique quality of limited service agents in Virginia?

41. 1.In Virginia, what is the difference between the REB and theFHB?

42. All of the following are examples of legal descriptions of property EXCEPT:

43. Which of these describes a leasehold estate?

44. Clarence owns three rental homes he doesn't have time to oversee himself. He decides to hire George to take care of his rental units in the hopes of maximizing the return on his investment.

What role is George filling?

45. In which of these cases should an agent disclose information about someone's HIV/AIDS status?