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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. How is a promissory note secured?

A) by referencing a security instrument
B) by the statute of frauds
C) by the disbursement of funds
D) by the attachment of a mortgage-backed security

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

3. Ben would like to construct a restaurant on a parcel of land. This particular parcel is not zoned for commercial use. Ben should go to the city and seek a(n):

A) encroachment
B) deferrence
C) use variance
D) exemption

4. In Virginia, agents practicing no agency (transaction coordinators) are sometimes referred to as:

A) appraisers
B) dual agents
C) intermediaries
D) single agents

5. A licensee could be found liable for all of the following EXCEPT:

A) failure to disclose a latent defect that the licensee should have reasonably known
B) attempting to conceal a known latent defect
C) failure to disclose a known latent defect to the buyer
D) failure to disclose an unknown latent defect in an inaccessible location

Solutions: