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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Virginia State Portion (30 questions) | 20% | - Virginia Contracts and Practices
|
| Topic 2: National Portion (120 questions) | 80% | - Financing and Settlement
|
Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:
In Virginia, how many years do records need to be kept for?
- A. one year
- B. two years
- C. five years
- D. three years
Correct Answer: D 🗳️
Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).
What is the purpose of the Do Not Call Registry?
- A. It governs the use of commercial email advertising.
- B. It bans bait-and-switch ads.
- C. It regulates telemarketing activities from commercial organizations.
- D. It has three main truth-in-advertising provisions.
Correct Answer: C 🗳️
Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).
Lillian is buying a home for $355,000. She is going to put down $75,000 as her down payment on her conventional loan. Will Lillian be required to pay private mortgage insurance?
- A. Yes, her down payment does not meet the requirements to eliminate PMI.
- B. Yes, PMI is required until she reaches 50% equity.
- C. No, but it depends solely on her credit score.
- D. No, her down payment is large enough to avoid PMI.
Correct Answer: D 🗳️
Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).
The purpose of discount points is:
- A. to lower the amount due at closing
- B. to lower the interest rate over the life of the loan
- C. to lock in an interest rate for a specified time prior to closing
- D. to lower the property value for purposes of tax savings
Correct Answer: B 🗳️
Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).
The purpose of discount points is:
- A. to lower the amount due at closing
- B. to lower the interest rate over the life of the loan
- C. to lock in an interest rate for a specified time prior to closing
- D. to lower the property value for purposes of tax savings
Correct Answer: B 🗳️
Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).
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