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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 is a marketable title?

A) an abbreviated history of a property, including information on any transfers, grants, wills, conveyances, liens, and encumbrances
B) constructive or actual notice of real property ownership
C) a title free from significant encumbrances or defects (such as liens) that might prevent a purchaser from enjoying or eventually selling the property
D) the official opinion of an attorney regarding the condition of a property's title

2. Harry, an agent, transfers some money from an escrow account into his personal savings accounts. What is he doing and is it legal or illegal?

A) This is conversion, and it is legal.
B) This is conversion, and it is illegal.
C) This is commingling, and it is legal.
D) This is commingling, and it is illegal.

3. 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) $15,120
C) $7,560
D) $1,512

4. 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 judicial foreclosure was necessary because Mindy 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 nonjudicial foreclosure was necessary because a trustee holds the title.

5. What was the outcome of Plessy v. Ferguson?

A) The Supreme Court decided that racial segregation of children in public schools was illegal.
B) The Supreme Court decided that the enforcement of racially based restrictive covenants was illegal.
C) The Supreme Court decided that racially based zoning was illegal.
D) The Supreme Court decided that "separate but equal" separation of the races was legal as long as Black and white facilities were equal.

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