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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?

A) $330.000-$345,000
B) $360.000-$375,000
C) $300,000-$330,000
D) $345.000-$360.000

2. In order to protect the public interest, Virginia requires real estate professionals to get licenses. What kinds of licenses are offered?

A) broker, salesperson, and firm
B) sales agent, broker, and property manager
C) residential and commercial
D) broker and assistant broker

3. Contracts for the initial purchase of a cooperative interest may be rescinded without penalty how many days after either contract ratification or receipt of the POS?

A) 21 days
B) 14 days
C) 5 days
D) 10 days

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

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

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

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

Solutions: