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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What is the legal doctrine by which the decedent's property will pass to the state without their consent if that individual dies without a will, a surviving spouse, lineal descendants, or other known heirs?

A) escheat
B) variance
C) eminent domain
D) police power

2. When the CFPB introduced the new TRID rules integrating RESPA and TILA rules, what two disclosure forms did they mandate lenders provide to borrowers?

A) the Good Faith Estimate and the HUD-1
B) the Loan Estimate and the Closing Disclosure
C) the TILA disclosure and the RESPA disclosure
D) the Settlement Statement and the Loan Disclosure

3. Which of the following provides the BEST explanation for why disclosure of material facts is required?

A) Not all material facts are readily discernible.
B) The material a property is made of can influence its value.
C) All facts related to a real estate transaction must be disclosed.
D) If known, they could cause a buyer or seller to take a different course of action.

4. The relationship between a property manager and the property owner is most comparable to that of a:

A) salesperson with their broker
B) tenant with a landlord
C) cashier with the owner of a store
D) stockholder with the board of directors of a corporation

5. The title of a fee simple determinable estate reverts automatically if title conditions are violated. How do fee simple condition subsequent estates compare?

A) Ownership of condition subsequent estates reverts automatically, as it does with determinable estates.
B) If title conditions are violated, condition subsequent estates require legal action for estate ownership to revert.
C) Ownership of condition subsequent estates reverts automatically, as it does with determinable estates, but it takes longer to process.
D) If title conditions are violated, condition subsequent estates require Supreme Court action, specifically, for estate ownership to revert.

Solutions: