VA Real Estate Practice Exam Tested Questions With Verified Correct Answers Already Passed

VA Real Estate Practice Exam Tested Questions With Verified Correct Answers Already Passed A broker is NOT required to hold money in an escrow account if: A. The deposit amount is less than $500 B. All parties to the transaction have agreed, in writing C. Closing is scheduled in less than 30 days D. The purchaser is a non-profit organization - ANSWER : All parties to the transaction have agreed, in writing According to the Virginia Landlord-Tenant Act, a landlord's right to access rented property is NOT restricted in which of the following circumstances? A. Abandonment B. Frozen water pipes C. Emergency situations D. All of the above - ANSWER : All of the above The unit owners of a condo project are unhappy with their association's management. As a result, they want to amend the bylaws. What is the minimum percentage of affirmative votes to change the bylaws? A. 33.33% B. 66.66% C. 75% D. A simple majority - ANSWER : A simple majority The initial purchaser of a time-share estate has a statutory right to rescind a contract to purchase. How long is this rescission period? A. 5 days B. 7 days C. 10 days D. None of the above - ANSWER : 7 days