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| Section | Objectives |
|---|---|
| Land Use Controls & Regulations | - Government restrictions
|
| Property Ownership | - Types of ownership
|
| Real Estate Calculations | - Math applications
|
| Financing | - Mortgage concepts
|
| Contracts | - Real estate contracts
|
| Virginia Law & Regulations | - State-specific rules
|
| Agency Relationships | - Broker-client relationships
|
| Real Estate Practice & Ethics | - Professional conduct
|
| Valuation and Market Analysis | - Appraisal concepts
|
Question 1
What is the purpose of the Do Not Call Registry?
A. It governs the use of commercial email advertising.
B. It regulates telemarketing activities from commercial organizations.
C. It has three main truth-in-advertising provisions.
D. It bans bait-and-switch ads.
Question 2
What is a deed containing the strongest and broadest form of guarantee of title?
A. quitclaim deed
B. special warranty deed
C. bargain and sale deed
D. general warranty deed
Question 3
Bobby took out a commercial mortgage to pay for his new podcast studio. It is an interest-only loan of $800,000 with an interest rate of 4.5%. How much will Bobby pay in interest over the year?
A. $10,500
B. $45,000
C. $3,500
D. $36.000
Question 4
The duty of obedience does not include requests or instructions that are:
A. not put in writing
B. unnecessary
C. illegal or unethical in any way
D. ethical and legal but not advisable
Question 5
Vicarious liability is the common law concept that:
A. agents cannot be held liable for violating fiduciary duties, while brokers can
B. a person is liable for the actions of those acting with authority on that individual's behalf
C. brokers are free from taking responsibility for their agents' actions
D. license holders may ONLY be held liable if violations are brought to court
Solutions:
| Question 1 Answer: B | Question 2 Answer: D | Question 3 Answer: D | Question 4 Answer: C | Question 5 Answer: B |
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