VA Real Estate Moseley Test EXAM
(updated 2026) Questions & Answers
Latest Already Graded A+ UPDATE
2026/27
Regarding closing procedures, what is the role of the Consumer Financial Protection
Bureau (CFPB)?
a.
Regulates HUD forms
b.
Enforces RESPA
c.
Regulates interest rates
d.
Enforces PITI -CORRECTANSWER Enforces RESPA
The Consumer Financial Protection Bureau (CFPB) enforces RESPA. RESPA is the
Federal law which regulates closing procedures to ensure that lenders fully inform
buyers and sellers of all settlement costs and that lenders do not engage in unfair
practices.
1.6 Property taxes on cooperative units are assessed in the form of:
a.
,Individual tax bills for each unit
b.
A single tax bill for entire property then prorated among individual units
c.
Assessed based on the type of unit
d.
Both A and C -CORRECTANSWER A single tax bill for entire property then prorated
among individual units
The best CORRECTANSWER is B, in a cooperative, real estate taxes are assessed
against the entire parcel of real estate, which is then prorated among the proprietary
tenants.
1.8 The right or privilege that one has to use the property of another is:
a.
A license
b.
A lease
c.
An easement
d.
All of the above -CORRECTANSWER All of the above
,A Freehold Estate (ownership interest) is land in which one has both possession and
(indefinite) ownership rights in real property.
A Non-Freehold Estate in real property, also known as a leasehold estate, only conveys
the right of possession without the right of ownership. Non-freehold estates are for a
definite duration, unlike a freehold estate which is for an indeterminable duration.
So, both freehold and non-freehold have the right of possession. The freehold estate
also has the right of ownership where non-freehold does not have ownership rights.
They both differ in duration.
2.2 What benefit would an owner get from a Deed In Lieu of Foreclosure?
a.
Cancellation of entire debt
b.
Avoid publicity of foreclosure
c.
Avoid a deficiency judgement
d. All of the above -CORRECTANSWER All of the above
A deed in lieu of foreclosure or "friendly foreclosure" is when the borrower and lender
agree to transfer property by deed from the borrower to the lender and the lender
cancels the entire debt. This is beneficial to both borrower and owner in saving
foreclosure expenses. Also, the borrower escapes the publicity of the foreclosure and
, potential deficiency judgements while the lender escapes the uncertainty of judicial
foreclosure and public auction.
2.6 Which of the following transfers is an example of involuntary alienation?
a.
Property transferred by descent
b.
Property transferred by a will
c.
Property transferred by a trust
d.
Property transferred by a deed -CORRECTANSWER Property transferred by descent
This is a form of involuntary alienation because absent a will the state (not the
deceased) determines the disposition of property. The question of who inherits the
descendant's estate (after the payment of applicable debts) is handled in each state by
the laws of descent and distribution, also known as "intestate succession" statutes.
Transferring property using a will, trust or deed are examples of voluntary alienation.
2.8 All of the following statements are true about valid restrictive covenants except:
a.
The covenant runs with the land
b.
(updated 2026) Questions & Answers
Latest Already Graded A+ UPDATE
2026/27
Regarding closing procedures, what is the role of the Consumer Financial Protection
Bureau (CFPB)?
a.
Regulates HUD forms
b.
Enforces RESPA
c.
Regulates interest rates
d.
Enforces PITI -CORRECTANSWER Enforces RESPA
The Consumer Financial Protection Bureau (CFPB) enforces RESPA. RESPA is the
Federal law which regulates closing procedures to ensure that lenders fully inform
buyers and sellers of all settlement costs and that lenders do not engage in unfair
practices.
1.6 Property taxes on cooperative units are assessed in the form of:
a.
,Individual tax bills for each unit
b.
A single tax bill for entire property then prorated among individual units
c.
Assessed based on the type of unit
d.
Both A and C -CORRECTANSWER A single tax bill for entire property then prorated
among individual units
The best CORRECTANSWER is B, in a cooperative, real estate taxes are assessed
against the entire parcel of real estate, which is then prorated among the proprietary
tenants.
1.8 The right or privilege that one has to use the property of another is:
a.
A license
b.
A lease
c.
An easement
d.
All of the above -CORRECTANSWER All of the above
,A Freehold Estate (ownership interest) is land in which one has both possession and
(indefinite) ownership rights in real property.
A Non-Freehold Estate in real property, also known as a leasehold estate, only conveys
the right of possession without the right of ownership. Non-freehold estates are for a
definite duration, unlike a freehold estate which is for an indeterminable duration.
So, both freehold and non-freehold have the right of possession. The freehold estate
also has the right of ownership where non-freehold does not have ownership rights.
They both differ in duration.
2.2 What benefit would an owner get from a Deed In Lieu of Foreclosure?
a.
Cancellation of entire debt
b.
Avoid publicity of foreclosure
c.
Avoid a deficiency judgement
d. All of the above -CORRECTANSWER All of the above
A deed in lieu of foreclosure or "friendly foreclosure" is when the borrower and lender
agree to transfer property by deed from the borrower to the lender and the lender
cancels the entire debt. This is beneficial to both borrower and owner in saving
foreclosure expenses. Also, the borrower escapes the publicity of the foreclosure and
, potential deficiency judgements while the lender escapes the uncertainty of judicial
foreclosure and public auction.
2.6 Which of the following transfers is an example of involuntary alienation?
a.
Property transferred by descent
b.
Property transferred by a will
c.
Property transferred by a trust
d.
Property transferred by a deed -CORRECTANSWER Property transferred by descent
This is a form of involuntary alienation because absent a will the state (not the
deceased) determines the disposition of property. The question of who inherits the
descendant's estate (after the payment of applicable debts) is handled in each state by
the laws of descent and distribution, also known as "intestate succession" statutes.
Transferring property using a will, trust or deed are examples of voluntary alienation.
2.8 All of the following statements are true about valid restrictive covenants except:
a.
The covenant runs with the land
b.
