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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:

SectionWeightObjectives
National Portion (120 questions)80%- Property Transfer and Title
  • 1. Title insurance
  • 2. Deeds and ownership transfer
  • 3. Title transfer procedures
- Financing and Settlement
  • 1. Loan application process
  • 2. Settlement procedures
  • 3. Mortgage types and financing
  • 4. Closing costs
- Property Ownership and Land Use
  • 1. Zoning and land use regulations
  • 2. Land characteristics and types
  • 3. Encumbrances and liens
  • 4. Property ownership forms
- Contracts and Agreements
  • 1. Purchase and sale agreements
  • 2. Listing agreements
  • 3. Lease agreements
  • 4. Contract formation and requirements
- Property Disclosures and Valuations
  • 1. Comparative market analysis
  • 2. Property valuation methods
  • 3. Material disclosure requirements
- Practice and Ethics
  • 1. Ethics and professional conduct
  • 2. Trust fund handling
  • 3. Fair housing laws
  • 4. License law requirements
- Agency and Fiduciary Duties
  • 1. Agent duties to clients and customers
  • 2. Fiduciary responsibilities
  • 3. Agency relationships
Virginia State Portion (30 questions)20%- Virginia Real Estate License Law
  • 1. Licensing requirements and procedures
  • 2. License renewal and continuing education
  • 3. Virginia Real Estate Board regulations
- Virginia-Specific Statutes
  • 1. Virginia fair housing regulations
  • 2. Virginia Real Estate License Act
  • 3. State-specific disclosure requirements
- Virginia Contracts and Practices
  • 1. Virginia-specific contract requirements
  • 2. Common law vs. statutory requirements

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

Question #1

An appraiser will most likely follow all of these steps in their appraisal, EXCEPT:

  • A. estimating the land value
  • B. gathering and recording data
  • C. setting a listing price for the property
  • D. reconciling the value estimates
Answer: C

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Question #2

In Virginia, what is the difference between the REB and theFHB?

  • A. The REB reports to HUD, while the FHB does not.
  • B. The FHB is responsible for the enforcement of the fair housing law for real estate licensees. The REB is responsible for all other violators.
  • C. They are the same thing.
  • D. The REB is responsible for the enforcement of the fair housing law for real estate licensees. The FHB is responsible for all other violators.
Answer: D

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Question #3

Clarence owns three rental homes he doesn't have time to oversee himself. He decides to hire George to take care of his rental units in the hopes of maximizing the return on his investment. What role is George filling?

  • A. appraisal manager
  • B. property manager
  • C. sponsoring broker
  • D. broker's agent
Answer: B

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Question #4

What form of co-ownership features individual, undivided interest in the property and includes rights of inheritance rather than survivorship?

  • A. joint tenancy
  • B. severalty
  • C. tenancy in common
  • D. tenancy by the entirety
Answer: C

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Question #5

What is a building permit?

  • A. document that permits landowners to use land in a way that is typically not permitted by land use restrictions of zoning law
  • B. written permission from the government to seize private property for public use
  • C. legal document from a local authority that authorizes a construction or remodeling project
  • D. document that permits changing the zoning of one small area within the existing zoning
Answer: C

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