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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The consummation of a real estate sale is known as the:

A) signing of the contract
B) option period
C) closing
D) offer and acceptance

2. Which of these is a naturally occurring radioactive gas that emanates from rocks, soil, and water and can cause lung cancer?

A) radon
B) carbon monoxide
C) chlorofluorocarbons
D) chlordane

3. Which of the following is correct about implied and express contracts?

A) Express contracts can be legally binding, while implied contracts cannot.
B) Express contracts explicitly state the terms of the contract, while implied contracts are established by the parties' actions.
C) Implied contracts can be legally binding, while express contracts cannot.
D) Implied contracts explicitly state the terms of the contract, while express contracts are established by the parties' actions.

4. In Virginia, how many years do records need to be kept for?

A) one year
B) three years
C) two years
D) five years

5. A partially amortizing loan will include:

A) multiple lenders
B) equal monthly payments that contribute to both principal and interest until the
C) a balloon payment
D) non-refinancing clauses

Solutions: