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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. When must a lender provide borrowers with a Closing Disclosure?

A) at least three business days before the consummation of the loan
B) at the end of the closing ceremony
C) at least five business days after consummation of the loan
D) on the day of closing

2. The duty of obedience does not include requests or instructions that are:

A) illegal or unethical in any way
B) ethical and legal but not advisable
C) unnecessary
D) not put in writing

3. You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?

A) $330.000-$345,000
B) $300,000-$330,000
C) $360.000-$375,000
D) $345.000-$360.000

4. What would make claims based on a contract unenforceable?

A) specific performance, rescission, and forfeiture
B) the statute of limitations and doctrine of laches
C) assignment, mediation, and arbitration
D) mutual assent, lawful objective, and reality of consent

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

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

Solutions: