VA Virginia Real Estate Exam Latest Update
2024-2025 Actual Exam 100 Questions and 100%
Verified Correct Answers Verified by Professor
"Runs with the land" and applies to the current owner and any subsequent owners. -
CORRECT ANSWER: Deed Restriction
$20 within a 2 year period. - CORRECT ANSWER: If transaction recovery fund falls
below minimum, what is the maximum licensees may be assessed?
$400,000 - CORRECT ANSWER: The minimum balance for the Transaction Recovery
Fund is set at:
180 days - CORRECT ANSWER: An individual appointed to carry out the conclusion of
a broker's business is only authorized to act in this capacity for a period of:
180 days (6 months) - CORRECT ANSWER: A broker may hold commissions in their
escrow account and NOT be guilty of commingling, provided that such money is
removed from the escrow account at regular intervals, not to exceed:
30 days - CORRECT ANSWER: When a real estate license has expired how long does
the licensee have to reinstate the license without monetary penalty?
75 percent of the units are sold. - CORRECT ANSWER: A declarant remains
responsible for the management and maintenance of the entire condominium project
until:
A construction loan. - CORRECT ANSWER: Which loan carries highest risk to lender?
,A loan feature that allows the principle balance to increase because payments are
insufficient to pay the interest owed. - CORRECT ANSWER: What is negative
amortization?
a. ad valorem - CORRECT ANSWER: Taxing real estate according the the value of the
property is called:
a. ad valorem
b. assessment
c. appraisal
d. capitalization
a. Horse ranch - CORRECT ANSWER: Commercial property includes all but which of
the following?
a. horse ranch
b. office buildings
c. restaurants
d. vacant land suitable for commercial development
a. market value and replacement cost - CORRECT ANSWER: When appraising new
single family homes, the greatest reliance would be placed on which of the following:
a. market value and replacement cost
b. replacement cost and income
c. highest and best use and market value
d. replacement cost and capitalization
a. physical deterioration- curable - CORRECT ANSWER: A building badly in need of
cleaning, painting, and minor repairs is an example of:
, a. physical deterioration-curable
b. physical deterioration- incurable
c. functional obsolescence-curable
d. functional obsolescence- incurable
a. price of the property - CORRECT ANSWER: In the capitalization approach, the
appraiser considers all of the following EXCEPT:
a. price of the property
b. rate of return on the investment
c. rate of return of the investment
d. the estimated future income
a. the entire lease interest is transferred - CORRECT ANSWER: When a property is
sold with an existing lease:
a. the entire lease interest is transferred
b. the original lessor remains primarily liable on the lease
c. the original lessor has no liability
d. the assignee would pay the rent to the assignor
a. title to the property - CORRECT ANSWER: When a buyer purchases property under
an installment sales contract, the seller retains:
a. title to the property
b. a remainder estate
c. possession
d. a life estate
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