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Virginia hic State Test Practice 2 exam 2024 updated Q&A €13,66
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Virginia hic State Test Practice 2 exam 2024 updated Q&A

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After an investigation by the DPOR, what comes next in the complaint process? a. A hearing is held. b.. A meeting is held between the parties involved to determine the facts of the matter. c. Interviews with witnesses and statements are obtained. d. Interviews with witnesses and statements are ...

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Virginia hic State Test Practice 2 exam
2024 updated Q&A
After an investigation by the DPOR, what comes next in the complaint process?

a. A hearing is held.

b.. A meeting is held between the parties involved to determine the facts of the matter.

c. Interviews with witnesses and statements are obtained.

d. Interviews with witnesses and statements are obtained. - CORRECT ANSWER-b.. A
meeting is held between the parties involved to determine the facts of the matter.

Which of the following does Virginia's Condominium Act NOT do?

a. Establishes condo owners' rights

b. Mandates that all condo associations file a declaration

c. Regulates how condos are created and sold

d. Regulates the kind of mortgages that buyers can get - CORRECT ANSWER-d.
Regulates the kind of mortgages that buyers can get

Who usually pays the recordation tax in Virginia?

a. the buyer

b. the lender

c. the listing agent

d. the seller - CORRECT ANSWER-a. the buyer

Which of the following would most likely be regulated by a POA?

a. Allowable age for POA members

b. Curfew for POA members

c. Exterior paint for all POA residences

,d. Interior furnishings for all POA residences - CORRECT ANSWER-c. Exterior paint for
all POA residences

In Virginia, the floodplain consists of the floodway and the ______.

a. Flood discharge area

b. Flood fringe

c. Property within a one mile radius

d. Surrounding community - CORRECT ANSWER-b. flood fringe

Gerald is selling a property that is not on public water and sewer systems. Per the
purchase agreement he has signed with the buyers, he must provide a certificate
proving that water from the well is safe, and that the sewage disposal system works.
When must the certificate be dated?

a. Not more than 15 days prior to settlement

b. Not more than 20 days prior to settlement

c. Not more than 25 days prior to settlement

d. Not more than 30 days prior to settlement - CORRECT ANSWER-d. Not more than
30 days prior to settlement

In Virginia, how long must completed real estate forms be kept on file with the broker?

a. A minimum of three years

b. At least six months

c. One year

d. Seven years - CORRECT ANSWER-a. A minimum of three years

Salesperson Nicola just told her principal broker Carter that she's going to transfer to
another brokerage. What duties, if any, does Carter have in this transaction?

a. Carter must return Nicola's license to the VREB within 10 days.

b. He has to fill out and submit Nicola's transfer request form.

c. He must sign and file a transfer request with the VREB that includes the new
sponsoring broker's signature.

, d. Nothing; Nicola and her new principal broker are responsible for completing the
transfer. - CORRECT ANSWER-a. Carter must return Nicola's license to the VREB
within 10 days.

Are stigmatized property disclosures required in Virginia?

a. No, stigmatized property disclosures are not required in Virginia.

b. Yes, if the stigmatization is a death or felony that occurred within the last two years.

c. Yes, this affects the physical structure of the property and must be disclosed.

d. Yes, this is material to the property and must be disclosed. - CORRECT ANSWER-a.
No, stigmatized property disclosures are not required in Virginia.

Identify the landlord who is trying to include a prohibited clause in the rental agreement.

a. Bob is a little bitter about a past experience and includes in a warning that he will sue
any client who does not allow him access to an apartment that is leaking water into the
unit below

b. Frank's lease states that the security deposit shall be equal to two months' rent

c. Lance's lease includes a statement that damages to the property will be added to the
following month's rent

d. Stacey asks all tenants to read the Virginia Residential Landlord Tenant Act so they
will know their rights and states this in her rental agreement - CORRECT ANSWER-c.
Lance's lease includes a statement that damages to the property will be added to the
following month's rent

Which of the following is true about the Chesapeake Bay Preservation Act and its
effects?

a. Anyone who is selling property in the area that's affected by this act must provide
additional disclosures to potential buyers.

b. The act protects the Chesapeake Bay waterways, so houses in this area require
extra disclosure forms for any sales transactions.

c. The act restricts growth along the Chesapeake Bay waterway, so owners with
properties affected by the act can't build on to them.

d. Those who want to buy a property in an area affected by this act should work to find
out how the additional restrictions affect the property. - CORRECT ANSWER-d. Those

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