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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Which of these is a naturally occurring radioactive gas that emanates from rocks, soil, and water and can cause lung cancer?

A) chlordane
B) carbon monoxide
C) chlorofluorocarbons
D) radon

2. Mindy experienced a foreclosure process that included being named as a defendant in a lawsuit by her lender and seeing her home sold in a foreclosure sale. From that information, what can you guess about the category of foreclosure used and who holds the title to the property?

A) A nonjudicial foreclosure was necessary because Mindy holds the title.
B) A judicial foreclosure was necessary because Mindy holds the title.
C) A nonjudicial foreclosure was necessary because a trustee holds the title.
D) A judicial foreclosure was necessary because the lender holds the title.

3. The EGI of a building is $300,000. The operating costs are $30,000.
What is the NOI of the building?

A) $332,000
B) $215,000
C) $270,000
D) $264,000

4. The title of a fee simple determinable estate reverts automatically if title conditions are violated. How do fee simple condition subsequent estates compare?

A) Ownership of condition subsequent estates reverts automatically, as it does with determinable estates, but it takes longer to process.
B) If title conditions are violated, condition subsequent estates require legal action for estate ownership to revert.
C) If title conditions are violated, condition subsequent estates require Supreme Court action, specifically, for estate ownership to revert.
D) Ownership of condition subsequent estates reverts automatically, as it does with determinable estates.

5. 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 right-to-sell listing
C) open listing
D) exclusive agency listing

Solutions: