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

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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. A leasehold agreement where the base rent changes is called a:

A) percentage lease
B) variable lease
C) lease-purchase agreement
D) net lease

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

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

3. How is a promissory note secured?

A) by referencing a security instrument
B) by the statute of frauds
C) by the attachment of a mortgage-backed security
D) by the disbursement of funds

4. The National Association of Realtors' Code of Ethics says
Realtors should act with:

A) competence
B) All choices are correct.
C) fairness
D) integrity

5. What is a marketable title?

A) the official opinion of an attorney regarding the condition of a property's title
B) constructive or actual notice of real property ownership
C) a title free from significant encumbrances or defects (such as liens) that might prevent a purchaser from enjoying or eventually selling the property
D) an abbreviated history of a property, including information on any transfers, grants, wills, conveyances, liens, and encumbrances

Solutions: