Real Estate Licensing Real Estate Licensing Certification Virginia-Real-Estate-Salesperson

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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. 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) eminent domain
C) escheat
D) police power

2. 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?

A) A nonjudicial foreclosure was necessary because a trustee holds the title.
B) A nonjudicial foreclosure was necessary because Mindy holds the title.
C) A judicial foreclosure was necessary because the lender holds the title.
D) A judicial foreclosure was necessary because Mindy holds the title.

3. According to the Virginia Residential Landlord Tenant Act (VRLTA) what is the maximum amount a landlord may keep as a security deposit?

A) one month's rent
B) $2,000
C) two months' rent
D) six months' rent

4. The National Association of Realtors' Code of Ethics says
Realtors should act with:

A) fairness
B) integrity
C) competence
D) All choices are correct.

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

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

Solutions: