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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The purpose of discount points is:

A) to lower the property value for purposes of tax savings
B) to lock in an interest rate for a specified time prior to closing
C) to lower the amount due at closing
D) to lower the interest rate over the life of the loan

2. Marie agreed to a contract in which she can lease a house for a period of two years and then has the option to buy the home if she can secure financing. What type of contract is this?

A) lease-option agreement
B) sales contract with a contingency
C) cooperative sales contract
D) land trust

3. An licensee in Virginia writes an online ad. It MUST include all of the below:

A) the licensee's name, the name of the firm in which the licensee is active, and the city and state in which the licensee's place of business is located
B) the licensee's name and the name of the firm in which the licensee is active
C) the licensee's name, and the city and state in which the licensee's place of business is located
D) the licensee's name, the name of the firm in which the licensee is active, the city and state in which the licensee's place of business is located, and the licensee's phone number

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

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

5. Ernest is a third-party trustee who is holding a title for the lender of a home loan that is secured by a trust deed. The title gives Ernest limited rights sufficient to carry out the terms of the trust. What kind of title does Ernest hold?

A) dirty title
B) naked title
C) clean title
D) skinny title

Solutions: