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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Alana is renting a three-bedroom home for one year. Alana is the:

A) tenant or lessee
B) holdover tenant
C) optionor
D) tenant or lessor

2. What is the difference between assemblage and plottage?

A) Assemblage is the act of combining parcels of land, and plottage is the resulting increase in value.
B) Assemblage involves combining parcels of land, and plottage involves splitting parcels of land.
C) Assemblage is the act of building a new building, and plottage is the act of creating a new parcel of land.
D) Assemblage is the first step in creating a new subdivision, and plottage is the second step.

3. In addition to evaluating borrower creditworthiness, to complete the loan approval process, the underwriter needs to evaluate the:

A) broker
B) property
C) tender
D) seller

4. The purpose of discount points is:

A) to lower the amount due at closing
B) to lock in an interest rate for a specified time prior to closing
C) to lower the property value for purposes of tax savings
D) to lower the interest rate over the life of the loan

5. Which of the following can be described as a nonexclusive listing agreement that gives multiple brokers (and owners themselves) the right to sell property, and the individual who is considered to have procured the cause of the sale is the one who will receive the commission?

A) open listing
B) net listing
C) exclusive agency agreement
D) exclusive right-to-sell agreement

Solutions: