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. Marty, who is not a real estate agent, owns a duplex. He lives in one unit and rents out the other. He turns down a\family with small children as tenants because he doesn't want to deal with noise. Evaluate the situation.

A) Marty has violated the Fair Housing Act on grounds of familial status protections.
B) Marty has violated the Fair Housing Act on grounds of parental status protections.
C) Marty has done nothing wrong. This housing situation is exempt from the Fair Housing Act.
D) Marty has violated the Fair Housing Act on grounds of marital status protections.

2. When must a lender provide borrowers with a Closing Disclosure?

A) on the day of closing
B) at least three business days before the consummation of the loan
C) at least five business days after consummation of the loan
D) at the end of the closing ceremony

3. In addition to evaluating borrower creditworthiness, to complete the loan approval process, the underwriter needs to evaluate the:

A) seller
B) broker
C) tender
D) property

4. A form of insurance that protects the policyholder by covering any losses they might incur as a result of theft or fraud by specified individuals is:

A) a fidelity bond
B) a risk management bond
C) a security bond
D) a liability bond

5. Lola has an easement that allows her to cross her neighbor's back lot to reach her home. It runs with the land. What kind of easement does Lola have?

A) easement in gross
B) easement by prescription
C) easement for light and air
D) easement appurtenant

Solutions: