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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The creation of express agency is best handled via a(n):

A) oral agreement or buyer representation agreement
B) listing agreement or buyer representation agreement
C) listing agreement or ratified actions
D) oral agreement or ratified actions

2. Which of these is likely to be the lien with the highest priority?

A) tax lien
B) mortgage
C) mechanic's lien
D) attachment lien

3. Who regulates fair housing advertising?

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

4. Mindy experienced a foreclosure process that included being named as a defendant in a lawsuit by her lender and seeing her home sold in a foreclosure sale. From that information, what can you guess about the category of foreclosure used and who holds the title to the property?

A) A nonjudicial foreclosure was necessary because Mindy holds the title.
B) A nonjudicial foreclosure was necessary because a trustee holds the title.
C) A judicial foreclosure was necessary because Mindy holds the title.
D) A judicial foreclosure was necessary because the lender holds the title.

5. What is a deed containing the strongest and broadest form of guarantee of title?

A) quitclaim deed
B) general warranty deed
C) bargain and sale deed
D) special warranty deed

Solutions: