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

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

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

A) $270,000
B) $215,000
C) $332,000
D) $264,000

2. What do ostensible agency and agency by estoppel have in common?

A) They both concern a third party's decision to go unrepresented in a transaction.
B) They are both forms of third-party agency no longer recognized in the U.S.
C) They both arise when a third party is ted to mistakenly believe that agency exists between a principal and an agent.
D) They both arise when a third party correctly believes that agency exists between a principal and an agent.

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) If known, they could cause a buyer or seller to take a different course of action.
C) The material a property is made of can influence its value.
D) All facts related to a real estate transaction must be disclosed.

4. Who regulates fair housing advertising?

A) ECOA
B) HUD
C) HMDA
D) CRA

5. What is the difference between assemblage and plottage?

A) Assemblage is the act of building a new building, and plottage is the act of creating a new parcel of land.
B) Assemblage is the first step in creating a new subdivision, and plottage is the second step.
C) Assemblage involves combining parcels of land, and plottage involves splitting parcels of land.
D) Assemblage is the act of combining parcels of land, and plottage is the resulting increase in value.

Solutions: