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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:

SectionObjectives
Topic 1: Virginia Law & Regulations- State-specific rules
  • 1. DPOR licensing rules
    • 2. Virginia real estate statutes
      Topic 2: Real Estate Practice & Ethics- Professional conduct
      • 1. Fair housing laws
        • 2. Ethical practices in transactions
          Topic 3: Property Ownership- Types of ownership
          • 1. Community vs separate property concepts
            • 2. Joint tenancy / tenancy in common
              Topic 4: Real Estate Calculations- Math applications
              • 1. Commissions and prorations
                • 2. Area and valuation calculations
                  Topic 5: Contracts- Real estate contracts
                  • 1. Purchase agreements
                    • 2. Listing agreements
                      Topic 6: Agency Relationships- Broker-client relationships
                      • 1. Disclosure requirements
                        • 2. Fiduciary duties
                          Topic 7: Valuation and Market Analysis- Appraisal concepts
                          • 1. Comparative Market Analysis (CMA)
                            • 2. Valuation approaches
                              Topic 8: Land Use Controls & Regulations- Government restrictions
                              • 1. Environmental regulations
                                • 2. Zoning and building codes
                                  Topic 9: Financing- Mortgage concepts
                                  • 1. Loan types and structures
                                    • 2. Lending regulations basics

                                      Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

                                      A building has an NOI of $130,000 and is being valued with a cap rate of 4%. Using the income approach, what is the value of the building?

                                      • A. $1,300.000
                                      • B. $4,130,000
                                      • C. $2.450,000
                                      • D. $3.250,000
                                      Reveal Solution  Discussion  0

                                      Correct Answer: D  🗳️

                                      Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

                                      When must a lender provide borrowers with a Closing Disclosure?

                                      • A. on the day of closing
                                      • B. at least five business days after consummation of the loan
                                      • C. at least three business days before the consummation of the loan
                                      • D. at the end of the closing ceremony
                                      Reveal Solution  Discussion  0

                                      Correct Answer: C  🗳️

                                      Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

                                      Alana is renting a three-bedroom home for one year. Alana is the:

                                      • A. tenant or lessee
                                      • B. holdover tenant
                                      • C. tenant or lessor
                                      • D. optionor
                                      Reveal Solution  Discussion  0

                                      Correct Answer: A  🗳️

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                                      In Virginia, what is the difference between the REB and theFHB?

                                      • A. The REB reports to HUD, while the FHB does not.
                                      • B. The FHB is responsible for the enforcement of the fair housing law for real estate licensees. The REB is responsible for all other violators.
                                      • 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.
                                      Reveal Solution  Discussion  0

                                      Correct Answer: D  🗳️

                                      Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

                                      The four phases of an environmental site assessment are, in order:

                                      • A. remediation, investigation, testing, management
                                      • B. testing, investigation, remediation, management
                                      • C. investigation, testing, remediation, management
                                      • D. management, investigation, testing, remediation
                                      Reveal Solution  Discussion  0

                                      Correct Answer: D  🗳️

                                      Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

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