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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

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

A) the licensee's name, 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, 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
D) 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

2. What is a marketable title?

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

3. 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) assessed value
B) market value
C) appraised value
D) insurable value

4. All of the following are examples of legal descriptions of property EXCEPT:

A) Lot A, Block 2 of Shady Tree Subdivision, Madison County, Wisconsin
B) SW 1/4 of NW 1/4 of NE 1/2 of T3N R4E of Meridian 16
C) Lot E, Block 14 of West Lake Village, Orange County, Texas
D) 8647 Notting Hill Drive, Berkshire, Colorado 52467

5. An appraiser will most likely follow all of these steps in their appraisal, EXCEPT:

A) reconciling the value estimates
B) gathering and recording data
C) estimating the land value
D) setting a listing price for the property

Solutions: