Virginia State Real Estate Exam Bundle (Graded A+)

Career Opportunities - Answer-residential brokerage, commercial brokerage, industrial brokerage, farm brokerage, property management, rental listing service, real estate appraising, government service, land development, urban planning, mortgage financing, securities and syndications, consulting, tit...

The employing broker is held accountable for the salesperson's conduct in performing business activities. When a real estate license expires, licensed activity must cease but the license may be renewed up to two years later. four years later. one year later. three years later - Answer-...

Abstract of Title - Answer-A condensed history of property An acre contains (sq. ft.) - Answer-43,560 sq. ft. An administrator is - Answer-appointed by the courts to dispose of property when someone dies intestate Adverse Possession - Answer-A means of acquiring title to property Alienat...

The Virginia Real Estate Board administers which of the following statutes? - Answer-The Virginia Fair Housing Act Virginia License Law defines a broker's place of business as a: - Answer-Physical location where real estate business is regularly transacted The Virginia Real Estate Board is em...

Which of the following would be the best definition of an appurtenance? a. the right to cross the land of another b. items or rights that would ordinarily pass with the sale of real property c. right to water from a flowing source d. the land and improvements - Answer-b. items or rights that wo...

Transact the client's affairs in a certain business. - Answer-A general agency empowers the agent to: The client (seller), the agent (broker), or by mutual consent. - Answer-A listing agreement may be terminated by: d. The buyer has had previous credit problems which may have an impact on loa...

Sole Proprietor: Principal Broker Owner - Answer-An individual broker, not a firm, trading under his or her bame or a ficticious name registered with the board. NO business entity firm license required Sole Proprietor: Non-Broker Owner - Answer-A brokerage firm owned by an unlicensed individual. ...

According to the VRLTA, a copy of the written rental agreement must be provided to the tenant within ______________ of the agreement's effective date. - Answer-One month In Virginia, a landlord must provide a copy of the written rental agreement. When must this be provided? - Answer-Within one m...

Active Status - Answer-An associate broker or salesperson under the supervision of a principal or supervising broker. Regulant - Answer-How one is governed/regulated by the board Associate Broker - Answer-A licensed broker, other than the principal broker or broker/owner at a firm. Client -...

Which of the following statements is true about real estate advertising? A. It must be supervised by the principal or supervising broker B. It must be in the name of the firm C. The firm's licensed name must be clearly and legibly displayed D. All of the above - Answer-All of the above A p...

Fred bought a new boat and hired a contractor to build a dock on his lakefront property. Fred did not pay the contractor. In an attempt to get paid, the contractor may file a: Select one: A. Mechanics lien against the boat B. Mechanics lien against the property C. General lien against Fred D. A...

a fixture - answer-former personal property that automatically conveys is most likely to be trap "most likely" - answer-is a indicator that there are at least 2 answers best will have the fewest limitations and have the broadest applicability Supply and demand - Answer-Oversupply lower price...

Settlement Agent - Answer-The person charged with coordinating the activities and documentation necessary for completing a real estate transaction. Cannot be a Real estate salesperson Principle Broker - Answer-the one licensee who is responsible for all of the agent activities in the company a...

Qualifications for broker candidates - Answer-Must have exp as licensed active salesperson for 36 or preceding 48 months before application Qualifications for Firm Licenses - Answer-All firms (unless owned by singe licensed broker with single location must be licensed and also be registered to do...