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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Stigmatized properties are properties:

A) that are exempt from ad valorem taxes
B) with suppressed market value due to their physical condition or features
C) with suppressed market value due to something that happened on or to the property, rather than the physical condition or features of the property
D) with market prices far exceeding other similar properties within an area

2. In which of these cases should an agent disclose information about someone's HIV/AIDS status?

A) only if the seller or tenant's status has caused the property to be stigmatized
B) Agents should never disclose or inquire about someone's HIV/AIDS status.
C) only if the seller has previously made their HIV or AIDS status public
D) only when a buyer client insists on knowing this information

3. Which of these describes a leasehold estate?

A) Terrence occupies an apartment he doesn't own. He pays his landlord rent every month.
B) 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.
C) 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.
D) Jung owns a building. He lives upstairs and runs the store downstairs.

4. Siblings Meg and Jack own property together. Meg owns 60% and Jack owns 40%. If Meg dies, her share is inherited by her spouse, not Jack. Based on these facts, what kind of ownership do they have?

A) tenancy by the entirety
B) ownership in severalty
C) tenancy in common
D) joint tenancy

5. Which of the following contracts has no legal effect and typically involves an illegal act, fraud, misrepresentation,duress, or undue influence?

A) a valid contract
B) a void contract
C) an oral contract
D) an implied contract

Solutions: