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Updated: Sep 04, 2025
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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:
1. 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.
2. Which of these describes a leasehold estate?
A) Terrence occupies an apartment he doesn't own. He pays his landlord rent every month.
B) Shannon lives in her uncle's apartment and has the right to occupy it for the remainder of her life. After that, the property reverts back to her uncte.
C) Janet owns a property she inherited from her father. There's a stipulation on the deed that it is only to be used for a residence. Otherwise, it reverts to him.
D) Jung owns a building. He lives upstairs and runs the store downstairs.
3. Peter and Ned co-own a type of real estate business together. This business is legally treated the same as a single person, meaning it is technically ownership in severalty. Peter and Ned are also not liable for the organization's debt. What type of business do Peter and Ned own?
A) sole proprietorship
B) corporation
C) limited partnership
D) general partnership
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) area variance
B) nonconforming use
C) amendment
D) conditional-use permit
5. A form of insurance that protects the policyholder by covering any losses they might incur as a result of theft or fraud by specified individuals is:
A) a risk management bond
B) a security bond
C) a liability bond
D) a fidelity bond
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: D |
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