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Pass Virginia-Real-Estate-Salesperson Exam Confidently with Actual4Labs Real Dum

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Pass Virginia-Real-Estate-Salesperson Exam Confidently with Actual4Labs Real Dum

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Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q11-Q16):NEW QUESTION # 11
One township contains how many sections?
  • A. 0
  • B. 1
  • C. 2
  • D. 3
Answer: D
Explanation:
U. S. Public Land Survey System (PLSS)
Virginia Real Estate Principles - Land descriptions section
A490-02REGS.pdf - Legal descriptions curriculum
Explanation:
Under the Rectangular (Government) Survey System:
A township = 6 miles × 6 miles = 36 square miles.
Each township is divided into 36 sections.
Each section = 1 mile × 1 mile = 640 acres.
Reference (Virginia Real Estate):

NEW QUESTION # 12
What are mortgage-backed securities?
  • A. investment instruments that have packaged mortgages as collateral
  • B. promissory notes that reference a security instrument
  • C. notices that acknowledge a borrower's debt to the lender and promise to repay the holder of the note
  • D. the rights to real property being held by one party for the benefit of another
Answer: A
Explanation:
Mortgage-Backed Securities (MBS) are investment instruments created when lenders bundle groups of mortgages and sell them to investors. These securities are backed by the cash flow from the underlying mortgage loans.
Investors receive interest and principal payments derived from homeowners' mortgage payments.
MBS are often issued by government-sponsored entities like Fannie Mae, Freddie Mac, or Ginnie Mae.
They help provide liquidity in the mortgage market by allowing lenders to free up funds to make more loans.
Reference (Virginia Real Estate & Finance):
Virginia Principles of Real Estate textbook discussions on financing and secondary mortgage market Real Estate Settlement education material in A490-02REGS.pdf (Mortgage Finance section)

NEW QUESTION # 13
Which listing agreement allows multiple real estate brokers (and the owners themselves) the right to sell the property, with a commission being paid to whoever is the procuring cause of the sale?
  • A. net listing
  • B. exclusive right-to-sell listing
  • C. exclusive agency listing
  • D. open listing
Answer: D
Explanation:
An open listing is a nonexclusive agreement allowing:
Multiple brokers to market the property.
The seller to sell the property themselves.
A commission only being paid to the broker (or seller) who is the procuring cause of the sale.
Other agreements:
(B) Exclusive right-to-sell = listing broker gets commission no matter who sells.
(C) Exclusive agency = one broker represents seller, but seller can sell on their own without paying commission.
(D) Net listing = illegal in many states (broker keeps anything above seller's required price).
Reference (Virginia Real Estate):
Code of Virginia § 54.1-2137 (Agency agreements)
Virginia Real Estate Principles - Listing agreements
A490-02REGS.pdf - Brokerage & Listing curriculum

NEW QUESTION # 14
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. executed and voidable
  • B. executory and voidable
  • C. executed and void
  • D. executory and void
Answer: B
Explanation:
A contract is executory when its terms have not yet been fully performed (here, closing has not yet occurred).
Because Trystan is 17 years old, he is a minor under Virginia law (legal capacity begins at 18). A minor's contract is generally voidable at the option of the minor, but enforceable against the adult party.
Therefore, this contract is executory (not yet performed) and voidable (due to Trystan's age).
Reference:
Code of Virginia §1-204 (Age of majority = 18)
Virginia Real Estate Board Exam Outline - Contracts (capacity, validity, executory vs executed)

NEW QUESTION # 15
According to the Virginia Residential Landlord Tenant Act (VRLTA) what is the maximum amount a landlord may keep as a security deposit?
  • A. $2,000
  • B. two months' rent
  • C. six months' rent
  • D. one month's rent
Answer: B
Explanation:
Under the Virginia Residential Landlord and Tenant Act (VRLTA), a landlord may not demand or receive a security deposit exceeding the equivalent of two months' rent.
Deposit must be returned (with allowable deductions) within 45 days after lease termination.
This protects tenants from excessive deposits while allowing landlords some coverage for damages.
Other options:
(A) One month = incorrect, law allows more.
(C) $2,000 = not specified in law.
(D) Six months = excessive and prohibited.
Reference (Virginia Real Estate):
Virginia Code § 55.1-1226 (Security deposits)
Virginia Residential Landlord Tenant Act (VRLTA)
A490-02REGS.pdf - Landlord-tenant curriculum

NEW QUESTION # 16
......
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