Real Estate Licensing Virginia Real Estate Salesperson - Virginia-Real-Estate-Salesperson FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

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

A. lease-purchase agreement B. percentage lease C. variable lease D. net lease

Discussion 0

Correct Answer: C Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).

Question 2

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

A. mortgage B. mechanic's lien C. tax lien D. attachment lien

Discussion 0

Correct Answer: C Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).

Question 3

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

A. a six-bedroom, four-bath, newly built property located a quarter mile away that sold six weeks ago B. a three-bedroom, one-bath, 12-year-old property located a quarter mile away that sold three months ago C. a three-bedroom, two-bath, seven-year-old property located a quarter mile away that sold two years ago D. a three-bedroom, two-and-a-half bath, 15-year-old property located 20 miles away that sold 12 weeks ago

Discussion 0

Correct Answer: C Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).

Question 4

What is the legal doctrine by which the decedent's property will pass to the state without their consent if that individual dies without a will, a surviving spouse, lineal descendants, or other known heirs?

A. variance B. police power C. escheat D. eminent domain

Discussion 0

Correct Answer: C Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).

Question 5

Which of the following is NOT an option that a seller has after receiving a counteroffer?

A. reject the offer in writing B. allow the offer to expire C. discharge the contract D. accept the offer

Discussion 0

Correct Answer: C Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).

Question 6

Larry's new tenant, who uses a wheelchair, asks Larry to install grab bars in the bathtub, as well as lowered light switches. The tenant is asking for:

A. modifications, and Larry can require that the tenant pay for their installation B. accommodations, and Larry must pay for them, no matter the expense C. injunctions, and the Americans with Disabilities Act (ADA) will cover the cost D. bias, and Larry is not obligated to complete the request

Discussion 0

Correct Answer: A Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).

Question 7

A building has an NOI of $130,000 and is being valued with a cap rate of 4%. Using the income approach, what is the value of the building?

A. $1,300.000 B. $2.450,000 C. $3.250,000 D. $4,130,000

Discussion 0

Correct Answer: C Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).

Question 8

In order to protect the public interest, Virginia requires real estate professionals to get licenses. What kinds of licenses are offered?

A. sales agent, broker, and property manager B. broker, salesperson, and firm C. residential and commercial D. broker and assistant broker

Discussion 0

Correct Answer: B Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).

Question 9

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

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

Discussion 0

Correct Answer: B Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).

Question 10

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

A. A contract for deed includes a section about a flip tax. B. A contract for deed includes a financing clause. C. A contract for deed has the purchase price in it. D. A contract for deed's purchase price section details the buyer's payment plan to the seller.

Discussion 0

Correct Answer: D Vote an answer

Explanation: Only visible for FreeCram members. You can sign-up / login (it's free).