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

SectionWeightObjectives
Topic 1: Virginia State Portion (30 questions)20%- Virginia Real Estate License Law
  • 1. License renewal and continuing education
  • 2. Virginia Real Estate Board regulations
  • 3. Licensing requirements and procedures
- Virginia-Specific Statutes
  • 1. Virginia Real Estate License Act
  • 2. Virginia fair housing regulations
  • 3. State-specific disclosure requirements
- Virginia Contracts and Practices
  • 1. Common law vs. statutory requirements
  • 2. Virginia-specific contract requirements
Topic 2: National Portion (120 questions)80%- Contracts and Agreements
  • 1. Lease agreements
  • 2. Purchase and sale agreements
  • 3. Contract formation and requirements
  • 4. Listing agreements
- Agency and Fiduciary Duties
  • 1. Agency relationships
  • 2. Fiduciary responsibilities
  • 3. Agent duties to clients and customers
- Financing and Settlement
  • 1. Closing costs
  • 2. Mortgage types and financing
  • 3. Settlement procedures
  • 4. Loan application process
- Property Disclosures and Valuations
  • 1. Comparative market analysis
  • 2. Material disclosure requirements
  • 3. Property valuation methods
- Property Transfer and Title
  • 1. Deeds and ownership transfer
  • 2. Title insurance
  • 3. Title transfer procedures
- Practice and Ethics
  • 1. Ethics and professional conduct
  • 2. Fair housing laws
  • 3. License law requirements
  • 4. Trust fund handling
- Property Ownership and Land Use
  • 1. Land characteristics and types
  • 2. Property ownership forms
  • 3. Zoning and land use regulations
  • 4. Encumbrances and liens

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

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

  • A. $332,000
  • B. $264,000
  • C. $215,000
  • D. $270,000
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).

A legally competent party to a contract will:

  • A. be literate and not be mentally incompetent or intoxicated by drugs or alcohol
  • B. have reached the age of majority 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 be literate
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).

If a partner is only an investor and only has liability up to the amount of their investment, they are considered a:

  • A. tenant in partnership
  • B. tenant in common
  • C. general partner
  • D. limited partner
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).

Who regulates fair housing advertising?

  • A. HUD
  • B. ECOA
  • C. HMDA
  • D. CRA
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).

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. clean title
  • C. naked title
  • D. skinny title
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for 2Pass4sure members. You can sign-up / login (it's free).

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