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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor?

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

2. Why do lenders need liquidity?

A) to qualify for FHA insurance
B) so loans can be packaged together to create MBSs
C) so they can put their money in long-term assets
D) so they have the funds to originate more loans

3. A form of insurance that protects the policyholder by covering any losses they might incur as a result of theft or fraud by specified individuals is:

A) a risk management bond
B) a security bond
C) a liability bond
D) a fidelity bond

4. Lola has an easement that allows her to cross her neighbor's back lot to reach her home. It runs with the land. What kind of easement does Lola have?

A) easement for light and air
B) easement by prescription
C) easement in gross
D) easement appurtenant

5. An area has been rezoned as residential, but a neighborhood store has been legacied in and allowed to continue its business.
This is an example of:

A) nonconforming use
B) area variance
C) amendment
D) conditional-use permit

Solutions: