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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:
1. What are mortgage-backed securities?
A) investment instruments that have packaged mortgages as collateral
B) the rights to real property being held by one party for the benefit of another
C) notices that acknowledge a borrower's debt to the lender and promise to repay the holder of the note
D) promissory notes that reference a security instrument
2. John is a landlord. He has an applicant for an apartment who uses a cane. John tells her that she should go to the complex across the street, as they have more first-floor units available, and he doesn't want her to have to climb the stairs in his building. She thanks him for the tip. Evaluate.
A) John steered the applicant, which was a risky move, but it paid off this time.
B) John steered the applicant, which is never okay, even if she expressed appreciation.
C) John did nothing wrong. He simply evaluated the applicant and tried to do what was best for her.
D) John steered the applicant, but it was okay since she expressed appreciation.
3. In Virginia, what is the difference between the REB and theFHB?
A) The FHB is responsible for the enforcement of the fair housing law for real estate licensees. The REB is responsible for all other violators.
B) The REB reports to HUD, while the FHB does not.
C) They are the same thing.
D) The REB is responsible for the enforcement of the fair housing law for real estate licensees. The FHB is responsible for all other violators.
4. Which listing agreement allows multiple real estate brokers (and the owners themselves) the right to sell the property, with a commission being paid to whoever is the procuring cause of the sale?
A) net listing
B) exclusive agency listing
C) exclusive right-to-sell listing
D) open listing
5. Sellers and license holders are required to disclose lead- based paint hazards on all properties built before:
A) 1974
B) 1978
C) 1972
D) 1976
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: B |





