Self-learning and self-evaluation functions

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Any electronic equipment available on the APP online version

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Simple language

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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Bobby took out a commercial mortgage to pay for his new podcast studio. It is an interest-only loan of $800,000 with an interest rate of 4.5%. How much will Bobby pay in interest over the year?

A) $36.000
B) $3,500
C) $45,000
D) $10,500

2. An licensee in Virginia writes an online ad. It MUST include all of the below:

A) the licensee's name, and the city and state in which the licensee's place of business is located
B) the licensee's name, the name of the firm in which the licensee is active, and the city and state in which the licensee's place of business is located
C) the licensee's name and the name of the firm in which the licensee is active
D) the licensee's name, the name of the firm in which the licensee is active, the city and state in which the licensee's place of business is located, and the licensee's phone number

3. Which of the following is a unique quality of limited service agents in Virginia?

A) Limited service agents can assist in residential transactions ONLY.
B) Limited service agents can assist in neither residential nor commercial transactions.
C) Limited service agents can assist in commercial transactions ONLY.
D) Limited service agents can assist in both residential and commercial transactions.

4. A leasehold agreement where the base rent changes is called a:

A) net lease
B) percentage lease
C) variable lease
D) lease-purchase agreement

5. In Virginia, a supervising broker is:

A) a broker who is NOT affiliated with the brokerage representing a principal in a real estate transaction
B) a broker who has been designated by a principal broker to oversee the provision of real estate brokerage services by associate brokers and salespersons assigned to a branch office or a real estate team
C) a broker who opts to work under another broker and has no agents assigned to them
D) the licensed broker of a firm who takes responsibility for the actions of the firm and licensees; there is only one in the firm

Solutions: