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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Norah just purchased a warehouse with dimensions of 25 ft. by 15 ft. She wants to carpet the floor. How many square YARDS of carpet does she need?

A) 80 sq. yds.
B) 375 sq. yds.
C) 125 sq. yds.
D) 41.67 sq. yds.

2. In Virginia, the grantor tax rate is currently $0.50 per $500 of the sales price. How much would the taxes be on a $756,000 home purchase?

A) $7,560
B) $1,512
C) $756
D) $15,120

3. What is one way that a contract for deed differs from a standard real estate sales contract?

A) A contract for deed includes a financing clause.
B) A contract for deed has the purchase price in it.
C) A contract for deed's purchase price section details the buyer's payment plan to the seller.
D) A contract for deed includes a section about a flip tax.

4. A home is being sold "as is." Evaluate this situation.

A) The seller is indicating that they believe their home to be in pristine condition.
B) The seller is planning to tear down the house before closing.
C) The seller does not have to disclose any defects to the buyer.
D) The seller is signaling that they do not want to do any repairs, regardless of what is found in the inspection.

5. Which of the following is NOT an option that a seller has after receiving a counteroffer?

A) discharge the contract
B) allow the offer to expire
C) accept the offer
D) reject the offer in writing

Solutions: