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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. A leasehold agreement where the base rent changes is called a:

A) variable lease
B) lease-purchase agreement
C) net lease
D) percentage lease

2. The creation of express agency is best handled via a(n):

A) oral agreement or buyer representation agreement
B) listing agreement or ratified actions
C) oral agreement or ratified actions
D) listing agreement or buyer representation agreement

3. Why do lenders need liquidity?

A) so they have the funds to originate more loans
B) to qualify for FHA insurance
C) so loans can be packaged together to create MBSs
D) so they can put their money in long-term assets

4. 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 for light and air
C) easement by prescription
D) easement in gross

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

A) fairness
B) integrity
C) competence
D) All choices are correct.

Solutions: