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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The creation of express agency is best handled via a(n):

A) listing agreement or ratified actions
B) oral agreement or ratified actions
C) listing agreement or buyer representation agreement
D) oral agreement or buyer representation agreement

2. What is a deed containing the strongest and broadest form of guarantee of title?

A) general warranty deed
B) special warranty deed
C) bargain and sale deed
D) quitclaim deed

3. The four phases of an environmental site assessment are, in order:

A) testing, investigation, remediation, management
B) remediation, investigation, testing, management
C) management, investigation, testing, remediation
D) investigation, testing, remediation, management

4. What form of co-ownership features individual, undivided interest in the property and includes rights of inheritance rather than survivorship?

A) tenancy by the entirety
B) tenancy in common
C) joint tenancy
D) severalty

5. Your client is buying a home. At closing, they pull you aside and whisper that the documents they're being asked to sign don't match the Closing Disclosure - suddenly, there are thousands of dollars of new fees. Is this a red flag for predatory lending? Why or why not?

A) Yes. No client should be paying fees at closing. Those should always be pre-paid to the lender at least three days in advance.
B) Yes. The fees should match what was on the Closing Disclosure. Otherwise, that's a major red flag.
C) No. As long as the title company has no objections, it doesn't matter if the Closina Disclosure and the real closina documents match.
D) No. It's normal for lenders to have significant last-minute changes to their fees.

Solutions: