Description
Exam Name: Virginia Real Estate Salesperson Exam
Exam Code: Virginia Real Estate Salesperson
Related Certification(s): Real Estate Licensing Exams Certification
Certification Provider: Real Estate Licensing
Actual Exam Duration: 120 Minutes
Number of Virginia Real Estate Salesperson practice questions in our database: 120
Expected Virginia Real Estate Salesperson Exam Topics, as suggested by Real Estate Licensing :
- Module 1: Property Ownership: This section of the exam measures the skills of a Salesperson and covers the understanding of property types, legal descriptions, encumbrances, and different forms of ownership. Candidates are expected to recognize how liens, easements, and rights affect property use and value, as well as how ownership can be structured individually, jointly, or through entities.
- Module 2: Land Use Controls: This section of the exam measures the skills of a Broker and covers government and private restrictions on land use. It includes zoning rules, property taxes, eminent domain, and deed restrictions, all of which impact how property may be developed or used within the state.
- Module 3: Valuation: This section of the exam measures the skills of a Salesperson and covers methods used to estimate property value. Candidates are tested on appraisals, the sales comparison approach, the cost approach, income analysis, and the ability to prepare comparative market analyses to guide buyers and sellers.
- Module 4: Financing: This section of the exam measures the skills of a Broker and covers the principles of real estate lending. It addresses loan types, mortgage terms, government-backed loans, financing laws, and the lending process from application to closing.
- Module 5: Contracts: This section of the exam measures the skills of a Salesperson and covers general contract law and agreements related to real estate transactions. It includes valid contract elements, enforceability, purchase and lease agreements, contingencies, amendments, and the proper handling of multiple offers.
- Module 6: Agency: This section of the exam measures the skills of a Broker and covers the formation of agency relationships, types of representation agreements, fiduciary duties, and disclosure requirements. Candidates must demonstrate understanding of agency termination, conflicts of interest, and responsibilities toward clients and customers.
- Module 7: Property Disclosures: This section of the exam measures the skills of a Salesperson and covers disclosure responsibilities regarding property condition, environmental issues, and material facts. It emphasizes compliance with state and federal rules to ensure buyers and tenants receive accurate information about the property.
- Module 8: Property Management: This section of the exam measures the skills of a Broker and covers the duties of property managers in tenant selection, fair housing compliance, lease agreements, financial handling, maintenance oversight, and the responsibilities defined in property management contracts.
- Module 9: Transfer of Title: This section of the exam measures the skills of a Salesperson and covers the transfer of real estate ownership. It reviews deed types, title insurance, closing procedures, settlement practices, and special cases such as foreclosures, probate, and short sales.
- Module 10: Practice of Real Estate: This section of the exam measures skills of a Broker and covers professional duties, antidiscrimination laws, advertising rules, antitrust regulations, confidentiality, and supervisory responsibilities. It also includes the correct handling of client funds and adherence to ethical standards.
Reviews
There are no reviews yet.