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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. A partially amortizing loan will include:

A) a balloon payment
B) equal monthly payments that contribute to both principal and interest until the
C) multiple lenders
D) non-refinancing clauses

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

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

3. Trystan and Nia enter into a contract for the sale of a tiny house. Trystan is 17. Closing is supposed to occur in two weeks. This contract is:

A) executory and voidable
B) executory and void
C) executed and void
D) executed and voidable

4. John is a landlord. He has an applicant for an apartment who uses a cane. John tells her that she should go to the complex across the street, as they have more first-floor units available, and he doesn't want her to have to climb the stairs in his building. She thanks him for the tip. Evaluate.

A) John steered the applicant, but it was okay since she expressed appreciation.
B) John did nothing wrong. He simply evaluated the applicant and tried to do what was best for her.
C) John steered the applicant, which was a risky move, but it paid off this time.
D) John steered the applicant, which is never okay, even if she expressed appreciation.

5. Ernest is a third-party trustee who is holding a title for the lender of a home loan that is secured by a trust deed. The title gives Ernest limited rights sufficient to carry out the terms of the trust. What kind of title does Ernest hold?

A) dirty title
B) skinny title
C) naked title
D) clean title

Solutions: