Real Estate Licensing Virginia Real Estate Salesperson : Virginia-Real-Estate-Salesperson

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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The relationship between a property manager and the property owner is most comparable to that of a:

A) cashier with the owner of a store
B) salesperson with their broker
C) stockholder with the board of directors of a corporation
D) tenant with a landlord

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

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

3. Which of these is a reason a borrower might be offered a subprime loan by a lender?

A) Federal funds rates are high.
B) The borrower's credit report includes numerous delinquencies.
C) A borrower's credit score is too high.
D) The home is in a low-income neighborhood.

4. What is a marketable title?

A) constructive or actual notice of real property ownership
B) a title free from significant encumbrances or defects (such as liens) that might prevent a purchaser from enjoying or eventually selling the property
C) an abbreviated history of a property, including information on any transfers, grants, wills, conveyances, liens, and encumbrances
D) the official opinion of an attorney regarding the condition of a property's title

5. Ernest is a third-party trustee who is holding a title for the lender of a home loan that is secured by a trust deed. The title gives Ernest limited rights sufficient to carry out the terms of the trust. What kind of title does Ernest hold?

A) clean title
B) naked title
C) skinny title
D) dirty title

Solutions: