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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Rosa is trying to get approved for a loan so she can purchase a new home. What type of value will the lender use to determine whether or not to approve Rosa's loan?

A) insurable value
B) appraised value
C) market value
D) assessed value

2. Stigmatized properties are properties:

A) with suppressed market value due to their physical condition or features
B) with suppressed market value due to something that happened on or to the property, rather than the physical condition or features of the property
C) with market prices far exceeding other similar properties within an area
D) that are exempt from ad valorem taxes

3. Siblings Meg and Jack own property together. Meg owns 60% and Jack owns 40%. If Meg dies, her share is inherited by her spouse, not Jack. Based on these facts, what kind of ownership do they have?

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

4. According to the Virginia Residential Landlord Tenant Act (VRLTA) what is the maximum amount a landlord may keep as a security deposit?

A) two months' rent
B) $2,000
C) six months' rent
D) one month's rent

5. In which of these cases should an agent disclose information about someone's HIV/AIDS status?

A) Agents should never disclose or inquire about someone's HIV/AIDS status.
B) only if the seller or tenant's status has caused the property to be stigmatized
C) only if the seller has previously made their HIV or AIDS status public
D) only when a buyer client insists on knowing this information

Solutions: