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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Weight | Objectives |
| Topic 1: Virginia State Portion (30 questions) | 20% | - Virginia Contracts and Practices
- 1. Common law vs. statutory requirements
- 2. Virginia-specific contract requirements
- Virginia-Specific Statutes
- 1. Virginia Real Estate License Act
- 2. State-specific disclosure requirements
- 3. Virginia fair housing regulations
- Virginia Real Estate License Law
- 1. Licensing requirements and procedures
- 2. License renewal and continuing education
- 3. Virginia Real Estate Board regulations
|
| Topic 2: National Portion (120 questions) | 80% | - Property Ownership and Land Use
- 1. Property ownership forms
- 2. Encumbrances and liens
- 3. Zoning and land use regulations
- 4. Land characteristics and types
- Property Disclosures and Valuations
- 1. Property valuation methods
- 2. Comparative market analysis
- 3. Material disclosure requirements
- Practice and Ethics
- 1. Fair housing laws
- 2. Ethics and professional conduct
- 3. Trust fund handling
- 4. License law requirements
- Property Transfer and Title
- 1. Title insurance
- 2. Deeds and ownership transfer
- 3. Title transfer procedures
- Financing and Settlement
- 1. Settlement procedures
- 2. Loan application process
- 3. Closing costs
- 4. Mortgage types and financing
- Contracts and Agreements
- 1. Purchase and sale agreements
- 2. Listing agreements
- 3. Contract formation and requirements
- 4. Lease agreements
- Agency and Fiduciary Duties
- 1. Agency relationships
- 2. Agent duties to clients and customers
- 3. Fiduciary responsibilities
|
Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:
Which of these types of loans can always be sold on the secondary mortgage market?
- A. conforming loans
- B. jumbo loans
- C. non-conforming loans
- D. loans originated by Fannie Mae
Reveal Solution
Discussion
Correct Answer: A 🗳️
Explanation: Only visible for DumpsTests members. You can sign-up / login (it's free).
Your client is buying a home. At closing, they pull you aside and whisper that the documents they're being asked to sign don't match the Closing Disclosure - suddenly, there are thousands of dollars of new fees. Is this a red flag for predatory lending? Why or why not?
- A. Yes. No client should be paying fees at closing. Those should always be pre-paid to the lender at least three days in advance.
- B. No. It's normal for lenders to have significant last-minute changes to their fees.
- C. No. As long as the title company has no objections, it doesn't matter if the Closina Disclosure and the real closina documents match.
- D. Yes. The fees should match what was on the Closing Disclosure. Otherwise, that's a major red flag.
Reveal Solution
Discussion
Correct Answer: D 🗳️
Explanation: Only visible for DumpsTests members. You can sign-up / login (it's free).
Which of the following provides the BEST explanation for why disclosure of material facts is required?
- A. All facts related to a real estate transaction must be disclosed.
- B. Not all material facts are readily discernible.
- C. The material a property is made of can influence its value.
- D. If known, they could cause a buyer or seller to take a different course of action.
Reveal Solution
Discussion
Correct Answer: D 🗳️
Explanation: Only visible for DumpsTests members. You can sign-up / login (it's free).
In Virginia, a supervising broker is:
- A. a broker who has been designated by a principal broker to oversee the provision of real estate brokerage services by associate brokers and salespersons assigned to a branch office or a real estate team
- B. the licensed broker of a firm who takes responsibility for the actions of the firm and licensees; there is only one in the firm
- C. a broker who is NOT affiliated with the brokerage representing a principal in a real estate transaction
- D. a broker who opts to work under another broker and has no agents assigned to them
Reveal Solution
Discussion
Correct Answer: A 🗳️
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Which of the following is NOT an option that a seller has after receiving a counteroffer?
- A. accept the offer
- B. allow the offer to expire
- C. reject the offer in writing
- D. discharge the contract
Reveal Solution
Discussion
Correct Answer: D 🗳️
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