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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What is the purpose of the Do Not Call Registry?

A) It regulates telemarketing activities from commercial organizations.
B) It governs the use of commercial email advertising.
C) It has three main truth-in-advertising provisions.
D) It bans bait-and-switch ads.

2. When an individual hails a cab and tells the driver where they want to be taken, that passenger has entered into what kind of contract?

A) unilateral
B) express
C) implied
D) written

3. Which of these ownership concepts gives each co-owner the right to possession of the whole property?

A) equitable interest
B) undivided interest
C) sole proprietorship
D) unity of time

4. You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?

A) $300,000-$330,000
B) $345.000-$360.000
C) $330.000-$345,000
D) $360.000-$375,000

5. Lillian is buying a home for $355,000. She is going to put down $75,000 as her down payment on her conventional loan. Will Lillian be required to pay private mortgage insurance?

A) Yes, PMI is required until she reaches 50% equity.
B) No, but it depends solely on her credit score.
C) No, her down payment is large enough to avoid PMI.
D) Yes, her down payment does not meet the requirements to eliminate PMI.

Solutions: