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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

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

A) They both arise when a third party correctly believes that agency exists between a principal and an agent.
B) They both arise when a third party is ted to mistakenly believe that agency exists between a principal and an agent.
C) They are both forms of third-party agency no longer recognized in the U.S.
D) They both concern a third party's decision to go unrepresented in a transaction.

2. You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?

A) $330.000-$345,000
B) $300,000-$330,000
C) $360.000-$375,000
D) $345.000-$360.000

3. Which listing agreement allows multiple real estate brokers (and the owners themselves) the right to sell the property, with a commission being paid to whoever is the procuring cause of the sale?

A) exclusive agency listing
B) net listing
C) open listing
D) exclusive right-to-sell listing

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

5. Alex is supposed to decide by 6 p.m. Tuesday if she wants to exercise her option to terminate the purchase agreement of the home she is buying. Alex can't make up her mind, but on Wednesday, 10 a.m., she finally makes a decision: She wants to terminate. Can she?

A) Yes, because the phrase "caveat emptor" is included in the contract.
B) No, because the phrase "as is" is included in the contract.
C) Yes, because the phrase "subject to" is included in the contract.
D) No, because the phrase "time is of the essence" is included in the contract.

Solutions: