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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Clarence owns three rental homes he doesn't have time to oversee himself. He decides to hire George to take care of his rental units in the hopes of maximizing the return on his investment. What role is George filling?

A) property manager
B) broker's agent
C) sponsoring broker
D) appraisal manager

2. A legally competent party to a contract will:

A) be literate and not be mentally incompetent or intoxicated by drugs or alcohol
B) have reached the age of majority and be literate
C) not be mentally incompetent or intoxicated by drugs or alcohol and have legal representation
D) have reached the age of majority and not be mentally incompetent or intoxicated by drugs or alcohol

3. Sellers and license holders are required to disclose lead- based paint hazards on all properties built before:

A) 1978
B) 1976
C) 1972
D) 1974

4. An area has been rezoned as residential, but a neighborhood store has been legacied in and allowed to continue its business.
This is an example of:

A) nonconforming use
B) amendment
C) area variance
D) conditional-use permit

5. Bobby took out a commercial mortgage to pay for his new podcast studio. It is an interest-only loan of $800,000 with an interest rate of 4.5%. How much will Bobby pay in interest over the year?

A) $10,500
B) $3,500
C) $36.000
D) $45,000

Solutions: