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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The government sends Ken a notice stating that his house and neighborhood will be demolished to build a much- needed water treatment plant. What is the government required to offer Ken in exchange for taking his property?

A) nothing, since it is for the public good
B) whatever Ken asks for
C) whatever they decide is reasonable
D) just compensation

2. What is a management proposal?

A) a report prepared by the property manager that informs the property owner(s) of their property's expenses, income, and disbursements
B) a plan a property manager creates for managing a property, including an analysis of the market, financial standing, and operating budget
C) a subdivision plan that includes residential dwellings along with nonresidential real estate
D) a budget for variable expenses

3. Randy and Joe were married, then divorced. Joe got the house in the divorce settlement. When he later goes to sell it, a title company tells him there's a cloud on the title due to the divorce. What is most likely to resolve this cloud?

A) requiring Joe to put some earnest money in escrow
B) filing the deed with the county
C) putting a mechanic's lien on the property
D) having Randy sign a quitclaim deed

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

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

5. What are mortgage-backed securities?

A) notices that acknowledge a borrower's debt to the lender and promise to repay the holder of the note
B) promissory notes that reference a security instrument
C) investment instruments that have packaged mortgages as collateral
D) the rights to real property being held by one party for the benefit of another

Solutions: