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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. A deed in lieu of foreclosure is often referred to as a "friendly foreclosure" because:

A) This alternative to foreclosure requires the agreement and cooperation of both lender and borrower.
B) This alternative to foreclosure is handled by legal representatives known as "friends of the court."
C) This alternative to foreclosure is an option only available to friends or family of the lender.
D) This alternative to foreclosure only takes place when the foreclosure sale buyer is a friend or family member.

2. The VRLTA applies to:

A) anyone who owns more than two rental properties
B) anyone who owns more than five rental properties
C) anyone who owns one property
D) anyone who owns a commercial property

3. What deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor?

A) special warranty deed
B) quitclaim deed
C) bargain and sale deed
D) general warranty deed

4. The duty of obedience does not include requests or instructions that are:

A) unnecessary
B) not put in writing
C) illegal or unethical in any way
D) ethical and legal but not advisable

5. An agreement that gives only one broker and the owner the right to sell the property is called a(n):

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

Solutions: