Mosley Practice Exam – 1 Questions
With Correct Answers
A lease where the tenant pays taxes and maintenance costs is a:
| | | | | | | | | | |
Net lease|
All of the following transactions are exempt from the Virginia Property
| | | | | | | | | | |
Disclosure Act, except: | |
Transactions that occur without the help of a broker
| | | | | | | |
Nancy and Kevin enter into a valid sales contract. Nancy makes all the
| | | | | | | | | | | | |
required disclosures, but fails to mention that her home was the
| | | | | | | | | | |
birthplace of a famous rock star. Fans trespass the premises on a daily
| | | | | | | | | | | | |
basis because of that history. In fact, this is the reason Nancy decided to
| | | | | | | | | | | | | |
sell. How likely is it that Nancy has violated Virginia's disclosure laws?
| | | | | | | | | | |
Very unlikely, because the events do not physically impact the house
| | | | | | | | | |
,Broker Antonio has been found guilty of blockbusting, of the potential
| | | | | | | | | | |
penalties which should he not be concerned about ?
| | | | | | | |
Up to 1 year in jail
| | | | |
Which of the following firm names is in compliance with board
| | | | | | | | | | |
regulations?
Zen Realty or Broker Bill Realty
| | | | |
Escrow agents hold money or documents for a third party until the
| | | | | | | | | | | |
transaction is complete, who would not be allowed to act as an escrow
| | | | | | | | | | | | |
agent?
Salesperson
An associate broker is described as a:
| | | | | |
Broker working for another broker
| | | |
An agent engaged by a buyer would breach her fiduciary duties by
| | | | | | | | | | | |
showing properties that the buyer is interested in to other prospective
| | | | | | | | | | |
buyers.
,False
Which of the following choices is NOT subject to the Virginia Landlord-
| | | | | | | | | | |
Tenant Act? |
A motel room rented for a period of 30 days
| | | | | | | | |
Which of the following actions is an example of commingling?
| | | | | | | | |
Placing earned commissions in the same account as earnest money
| | | | | | | | | |
deposits
A licensee contacts a homeowner and tries to obtain a listing for the
| | | | | | | | | | | | |
property. When must agency disclosure be provided to the
| | | | | | | | |
homeowner?
Before the owner agrees to list the property
| | | | | | |
Jon and Julie enter into a valid sales contract. Pursuant to state law, Jon
| | | | | | | | | | | | | |
gathers information about the property condition (including appliances,
| | | | | | | |
structural elements, and exterior items). However, Jon gets tired of
| | | | | | | | | |
, gathering information and instead decides to sell his home "as is." Can
| | | | | | | | | | | |
Jon do this without violating the law?
| | | | | |
Yes, as long as Jon completes the necessary paperwork
| | | | | | | |
Stephanie recently became a licensed real estate agent and wants to
| | | | | | | | | | |
have business cards made to hand out to potential clients. When
| | | | | | | | | | |
Stephanie designs her new business cards which of the following can
| | | | | | | | | | |
she choose to omit?
| | |
Agent's License Number | |
When a salesperson transfers from one broker to another, it is the
| | | | | | | | | | | |
Broker's responsibility to: | |
Send the license to the Board
| | | | |
Which of the following actions is NOT an act of real estate brokerage?
| | | | | | | | | | | |
Selling a business for a relative
| | | | |
If a broker purchases property through a "straw man" and does not
| | | | | | | | | | | |
disclose that information, which of the following statements is true?
| | | | | | | | |
With Correct Answers
A lease where the tenant pays taxes and maintenance costs is a:
| | | | | | | | | | |
Net lease|
All of the following transactions are exempt from the Virginia Property
| | | | | | | | | | |
Disclosure Act, except: | |
Transactions that occur without the help of a broker
| | | | | | | |
Nancy and Kevin enter into a valid sales contract. Nancy makes all the
| | | | | | | | | | | | |
required disclosures, but fails to mention that her home was the
| | | | | | | | | | |
birthplace of a famous rock star. Fans trespass the premises on a daily
| | | | | | | | | | | | |
basis because of that history. In fact, this is the reason Nancy decided to
| | | | | | | | | | | | | |
sell. How likely is it that Nancy has violated Virginia's disclosure laws?
| | | | | | | | | | |
Very unlikely, because the events do not physically impact the house
| | | | | | | | | |
,Broker Antonio has been found guilty of blockbusting, of the potential
| | | | | | | | | | |
penalties which should he not be concerned about ?
| | | | | | | |
Up to 1 year in jail
| | | | |
Which of the following firm names is in compliance with board
| | | | | | | | | | |
regulations?
Zen Realty or Broker Bill Realty
| | | | |
Escrow agents hold money or documents for a third party until the
| | | | | | | | | | | |
transaction is complete, who would not be allowed to act as an escrow
| | | | | | | | | | | | |
agent?
Salesperson
An associate broker is described as a:
| | | | | |
Broker working for another broker
| | | |
An agent engaged by a buyer would breach her fiduciary duties by
| | | | | | | | | | | |
showing properties that the buyer is interested in to other prospective
| | | | | | | | | | |
buyers.
,False
Which of the following choices is NOT subject to the Virginia Landlord-
| | | | | | | | | | |
Tenant Act? |
A motel room rented for a period of 30 days
| | | | | | | | |
Which of the following actions is an example of commingling?
| | | | | | | | |
Placing earned commissions in the same account as earnest money
| | | | | | | | | |
deposits
A licensee contacts a homeowner and tries to obtain a listing for the
| | | | | | | | | | | | |
property. When must agency disclosure be provided to the
| | | | | | | | |
homeowner?
Before the owner agrees to list the property
| | | | | | |
Jon and Julie enter into a valid sales contract. Pursuant to state law, Jon
| | | | | | | | | | | | | |
gathers information about the property condition (including appliances,
| | | | | | | |
structural elements, and exterior items). However, Jon gets tired of
| | | | | | | | | |
, gathering information and instead decides to sell his home "as is." Can
| | | | | | | | | | | |
Jon do this without violating the law?
| | | | | |
Yes, as long as Jon completes the necessary paperwork
| | | | | | | |
Stephanie recently became a licensed real estate agent and wants to
| | | | | | | | | | |
have business cards made to hand out to potential clients. When
| | | | | | | | | | |
Stephanie designs her new business cards which of the following can
| | | | | | | | | | |
she choose to omit?
| | |
Agent's License Number | |
When a salesperson transfers from one broker to another, it is the
| | | | | | | | | | | |
Broker's responsibility to: | |
Send the license to the Board
| | | | |
Which of the following actions is NOT an act of real estate brokerage?
| | | | | | | | | | | |
Selling a business for a relative
| | | | |
If a broker purchases property through a "straw man" and does not
| | | | | | | | | | | |
disclose that information, which of the following statements is true?
| | | | | | | | |
