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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The subject property has a pool valued at $30,000 and two bathrooms valued at $10,000 each. Comp 1 does not have a pool and has one less bathroom than the subject property.
What adjustments should be made to Comp 1's value?

A) add $40,000 to Comp 1's value
B) subtract $40,000 from Comp 1's value
C) add $20,000 to Comp 1's value
D) subtract $20,000 from Comp 1's value

2. According to the Virginia Residential Landlord Tenant Act (VRLTA) what is the maximum amount a landlord may keep as a security deposit?

A) $2,000
B) six months' rent
C) two months' rent
D) one month's rent

3. What was the outcome of Plessy v. Ferguson?

A) The Supreme Court decided that racially based zoning was illegal.
B) The Supreme Court decided that "separate but equal" separation of the races was legal as long as Black and white facilities were equal.
C) The Supreme Court decided that racial segregation of children in public schools was illegal.
D) The Supreme Court decided that the enforcement of racially based restrictive covenants was illegal.

4. A partially amortizing loan will include:

A) a balloon payment
B) non-refinancing clauses
C) equal monthly payments that contribute to both principal and interest until the
D) multiple lenders

5. If a condo owner is selling their unit, which of these documents should they present to a buyer?

A) Closing Disclosure
B) resale certificate
C) HUD-1
D) Loan Estimate

Solutions: