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

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

A) unity of time
B) sole proprietorship
C) undivided interest
D) equitable interest

3. What is the perimeter of a rectangular lot with the dimensions of 40 ft. x 50 ft .?

A) 90 ft.
B) 150 ft.
C) 180 ft.
D) 200 ft.

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

A) 1978
B) 1976
C) 1974
D) 1972

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

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

Solutions: