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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: National Portion (120 questions) | 80% | - Practice and Ethics
|
| Topic 2: Virginia State Portion (30 questions) | 20% | - Virginia Real Estate License Law
|
Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:
1. 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) $3.250,000
B) $2.450,000
C) $1,300.000
D) $4,130,000
2. Alexa and Harrison have gone over every term and condition in the contract they have drawn up for the sale of Alexa's racehorse to Harrison. Neither party has any questions or desire to change anything about the agreement. Which essential element of a valid contract appears to have been realized?
A) consideration
B) mutual assent
C) reality of consent
D) lawful objective
3. What do ostensible agency and agency by estoppel have in common?
A) They both concern a third party's decision to go unrepresented in a transaction.
B) They both arise when a third party correctly believes 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 arise when a third party is ted to mistakenly believe that agency exists between a principal and an agent.
4. Sellers and license holders are required to disclose lead- based paint hazards on all properties built before:
A) 1972
B) 1974
C) 1978
D) 1976
5. What is unique about an exclusive right-to-sell listing agreement?
A) The broker represents both the seller and the buyer.
B) The broker acts as a general agent for the client in all business dealings.
C) The broker gets compensation regardless of who sells the property.
D) There are multiple brokers working to sell the same property.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: C | Question # 5 Answer: C |
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