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

SectionObjectives
Agency Relationships- Broker-client relationships
  • 1. Disclosure requirements
    • 2. Fiduciary duties
      Virginia Law & Regulations- State-specific rules
      • 1. DPOR licensing rules
        • 2. Virginia real estate statutes
          Real Estate Practice & Ethics- Professional conduct
          • 1. Ethical practices in transactions
            • 2. Fair housing laws
              Contracts- Real estate contracts
              • 1. Purchase agreements
                • 2. Listing agreements
                  Valuation and Market Analysis- Appraisal concepts
                  • 1. Valuation approaches
                    • 2. Comparative Market Analysis (CMA)
                      Property Ownership- Types of ownership
                      • 1. Joint tenancy / tenancy in common
                        • 2. Community vs separate property concepts
                          Land Use Controls & Regulations- Government restrictions
                          • 1. Environmental regulations
                            • 2. Zoning and building codes
                              Financing- Mortgage concepts
                              • 1. Loan types and structures
                                • 2. Lending regulations basics
                                  Real Estate Calculations- Math applications
                                  • 1. Area and valuation calculations
                                    • 2. Commissions and prorations

                                      Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

                                      Which of these is a reason a borrower might be offered a subprime loan by a lender?

                                      • A. The home is in a low-income neighborhood.
                                      • B. Federal funds rates are high.
                                      • C. A borrower's credit score is too high.
                                      • D. The borrower's credit report includes numerous delinquencies.
                                      Reveal Solution  Discussion  0

                                      Correct Answer: D  🗳️

                                      Explanation: Only visible for Lead1Pass members. You can sign-up / login (it's free).

                                      The National Association of Realtors' Code of Ethics says
                                      Realtors should act with:

                                      • A. fairness
                                      • B. integrity
                                      • C. competence
                                      • D. All choices are correct.
                                      Reveal Solution  Discussion  0

                                      Correct Answer: D  🗳️

                                      Explanation: Only visible for Lead1Pass members. You can sign-up / login (it's free).

                                      Alexa and Harrison have gone over every term and condition in the contract they have drawn up for the sale of Alexa's racehorse to Harrison. Neither party has any questions or desire to change anything about the agreement. Which essential element of a valid contract appears to have been realized?

                                      • A. lawful objective
                                      • B. mutual assent
                                      • C. reality of consent
                                      • D. consideration
                                      Reveal Solution  Discussion  0

                                      Correct Answer: B  🗳️

                                      Explanation: Only visible for Lead1Pass members. You can sign-up / login (it's free).

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

                                      • A. $264,000
                                      • B. $215,000
                                      • C. $332,000
                                      • D. $270,000
                                      Reveal Solution  Discussion  0

                                      Correct Answer: D  🗳️

                                      Explanation: Only visible for Lead1Pass members. You can sign-up / login (it's free).

                                      In Virginia, how many years do records need to be kept for?

                                      • A. one year
                                      • B. three years
                                      • C. five years
                                      • D. two years
                                      Reveal Solution  Discussion  0

                                      Correct Answer: B  🗳️

                                      Explanation: Only visible for Lead1Pass members. You can sign-up / login (it's free).

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