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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What is the goal of the Sherman Antitrust Act?

A) to ensure the fair treatment of all Americans seeking housing
B) to prohibit deceit, misrepresentations, and other fraud in the sale of securities
C) to promote fair competition on behalf of American consumers
D) to protect consumers against inaccurate and unfair credit billing and credit card practices

2. Per se violations are:

A) acts that are in violation of CAN-SPAM
B) acts that are considered inherently illegal
C) acts that are in violation of the TCPA
D) acts that are NOT considered inherentty illegal

3. Alex is supposed to decide by 6 p.m. Tuesday if she wants to exercise her option to terminate the purchase agreement of the home she is buying. Alex can't make up her mind, but on Wednesday, 10 a.m., she finally makes a decision: She wants to terminate. Can she?

A) No, because the phrase "as is" is included in the contract.
B) Yes, because the phrase "subject to" is included in the contract.
C) Yes, because the phrase "caveat emptor" is included in the contract.
D) No, because the phrase "time is of the essence" is included in the contract.

4. An opinion of title, a certificate of title, a Torrens certificate, and title insurance are all examples of:

A) chain of title
B) evidence of title
C) cloud on a title
D) equitable title

5. All of the following are examples of legal descriptions of property EXCEPT:

A) Lot E, Block 14 of West Lake Village, Orange County, Texas
B) 8647 Notting Hill Drive, Berkshire, Colorado 52467
C) Lot A, Block 2 of Shady Tree Subdivision, Madison County, Wisconsin
D) SW 1/4 of NW 1/4 of NE 1/2 of T3N R4E of Meridian 16

Solutions: