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

SectionObjectives
Financing- Mortgage concepts
  • 1. Lending regulations basics
    • 2. Loan types and structures
      Virginia Law & Regulations- State-specific rules
      • 1. DPOR licensing rules
        • 2. Virginia real estate statutes
          Contracts- Real estate contracts
          • 1. Listing agreements
            • 2. Purchase agreements
              Agency Relationships- Broker-client relationships
              • 1. Fiduciary duties
                • 2. Disclosure requirements
                  Property Ownership- Types of ownership
                  • 1. Community vs separate property concepts
                    • 2. Joint tenancy / tenancy in common
                      Land Use Controls & Regulations- Government restrictions
                      • 1. Zoning and building codes
                        • 2. Environmental regulations
                          Real Estate Practice & Ethics- Professional conduct
                          • 1. Ethical practices in transactions
                            • 2. Fair housing laws
                              Valuation and Market Analysis- Appraisal concepts
                              • 1. Valuation approaches
                                • 2. Comparative Market Analysis (CMA)
                                  Real Estate Calculations- Math applications
                                  • 1. Commissions and prorations
                                    • 2. Area and valuation calculations

                                      Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

                                      1. In order to protect the public interest, Virginia requires real estate professionals to get licenses. What kinds of licenses are offered?

                                      A) broker, salesperson, and firm
                                      B) sales agent, broker, and property manager
                                      C) broker and assistant broker
                                      D) residential and commercial


                                      2. In Virginia, agents practicing no agency (transaction coordinators) are sometimes referred to as:

                                      A) dual agents
                                      B) appraisers
                                      C) intermediaries
                                      D) single agents


                                      3. Stigmatized properties are properties:

                                      A) with suppressed market value due to their physical condition or features
                                      B) with suppressed market value due to something that happened on or to the property, rather than the physical condition or features of the property
                                      C) with market prices far exceeding other similar properties within an area
                                      D) that are exempt from ad valorem taxes


                                      4. Who regulates fair housing advertising?

                                      A) ECOA
                                      B) HUD
                                      C) CRA
                                      D) HMDA


                                      5. The four phases of an environmental site assessment are, in order:

                                      A) testing, investigation, remediation, management
                                      B) remediation, investigation, testing, management
                                      C) management, investigation, testing, remediation
                                      D) investigation, testing, remediation, management


                                      Solutions:

                                      Question # 1
                                      Answer: A
                                      Question # 2
                                      Answer: C
                                      Question # 3
                                      Answer: B
                                      Question # 4
                                      Answer: B
                                      Question # 5
                                      Answer: C

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