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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) quitclaim deed
D) special warranty deed

2. When an individual hails a cab and tells the driver where they want to be taken, that passenger has entered into what kind of contract?

A) unilateral
B) express
C) written
D) implied

3. An agreement that gives only one broker and the owner the right to sell the property is called a(n):

A) open listing
B) exclusive agency listing
C) exclusive right-to-sell listing
D) net listing

4. Contracts for the initial purchase of a cooperative interest may be rescinded without penalty how many days after either contract ratification or receipt of the POS?

A) 14 days
B) 21 days
C) 10 days
D) 5 days

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) naked title
C) skinny title
D) clean title

Solutions: