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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. In addition to evaluating borrower creditworthiness, to complete the loan approval process, the underwriter needs to evaluate the:

A) seller
B) tender
C) broker
D) property

2. 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) $7,560
B) $15,120
C) $1,512
D) $756

3. The EGI of a building is $300,000. The operating costs are $30,000.
What is the NOI of the building?

A) $264,000
B) $332,000
C) $215,000
D) $270,000

4. A deed in lieu of foreclosure is often referred to as a "friendly foreclosure" because:

A) This alternative to foreclosure is an option only available to friends or family of the lender.
B) This alternative to foreclosure requires the agreement and cooperation of both lender and borrower.
C) This alternative to foreclosure only takes place when the foreclosure sale buyer is a friend or family member.
D) This alternative to foreclosure is handled by legal representatives known as "friends of the court."

5. A legally competent party to a contract will:

A) have reached the age of majority and be literate
B) be literate and not be mentally incompetent or intoxicated by drugs or alcohol
C) not be mentally incompetent or intoxicated by drugs or alcohol and have legal representation
D) have reached the age of majority and not be mentally incompetent or intoxicated by drugs or alcohol

Solutions: