Moseley Final Exam Questions With
Correct Answers
What is not a valid method to describe real property?
|| || || || || || || || ||
a.
Metes and bounds
|| ||
b.
Street address
||
c.
Government method of survey || || ||
d.
All of the above are valid methods
|| || || || || ||
All of the above are valid methods
|| || || || || ||
An agent engaged by a buyer would breach her fiduciary duties by
|| || || || || || || || || || || ||
showing properties that the buyer is interested in to other
|| || || || || || || || || ||
prospective buyers. ||
Select one:||
True
,False
False
The Virginia Residential Landlord and Tenant Act does not apply to
|| || || || || || || || || || ||
which of the following dwellings:
|| || || ||
a.
All residential rentals
|| ||
b.
All apartment complexes
|| ||
c.
All duplexes
||
d.
single family houses when the owner rents 2 or fewer homes
|| || || || || || || || || ||
single family houses when the owner rents 2 or fewer homes
|| || || || || || || || || ||
A broker has the buyer's earnest money deposited in an escrow
|| || || || || || || || || || ||
account. The amount of the deposit exceeds the amount of the
|| || || || || || || || || || ||
broker's commission for the sale. The broker can ONLY remove his
|| || || || || || || || || || ||
commission for the sale: || || ||
a.
,Anytime since the offer has been accepted and there is a valid sales
|| || || || || || || || || || || ||
contract
||
b.
When the closing is completed
|| || || ||
c.
Anytime as long as the seller consents
|| || || || || ||
d.
Once the buyer has officially moved into the property
|| || || || || || || ||
When the closing is completed
|| || || ||
Is a Virginia broker allowed to establish a firm office in her
|| || || || || || || || || || || ||
residential home? ||
a.
Yes, if the office is kept separate from the living space
|| || || || || || || || || ||
b.
No, a firm office cannot operate on a residential property
|| || || || || || || || ||
c.
Not unless the home office is at least 500 square feet in size
|| || || || || || || || || || || ||
d.
Yes, as long as there is a separate office parking area
|| || || || || || || || || ||
a.
, Yes, if the office is kept separate from the living space
|| || || || || || || || || ||
Owner Kelly is leaving the area for a one year period. She asks
|| || || || || || || || || || || || ||
Salesperson Boren to manage her rental home for $45 per month
|| || || || || || || || || || ||
while she is gone. In this situation, which of the following
|| || || || || || || || || || ||
statements is true? || ||
a.
This is fine because the time element is not longer than one year
|| || || || || || || || || || || ||
b.
This is fine because the compensation is less than $1,000
|| || || || || || || || ||
c.
Boren must put the $45 in an interest-bearing escrow account
|| || || || || || || || ||
d.
Boren must work through his broker
|| || || || ||
d.
Boren must work through his broker
|| || || || ||
When acting as a buyer's agent, what responsibilities should the
|| || || || || || || || || ||
broker have towards the seller of the property?
|| || || || || || ||
a.
Correct Answers
What is not a valid method to describe real property?
|| || || || || || || || ||
a.
Metes and bounds
|| ||
b.
Street address
||
c.
Government method of survey || || ||
d.
All of the above are valid methods
|| || || || || ||
All of the above are valid methods
|| || || || || ||
An agent engaged by a buyer would breach her fiduciary duties by
|| || || || || || || || || || || ||
showing properties that the buyer is interested in to other
|| || || || || || || || || ||
prospective buyers. ||
Select one:||
True
,False
False
The Virginia Residential Landlord and Tenant Act does not apply to
|| || || || || || || || || || ||
which of the following dwellings:
|| || || ||
a.
All residential rentals
|| ||
b.
All apartment complexes
|| ||
c.
All duplexes
||
d.
single family houses when the owner rents 2 or fewer homes
|| || || || || || || || || ||
single family houses when the owner rents 2 or fewer homes
|| || || || || || || || || ||
A broker has the buyer's earnest money deposited in an escrow
|| || || || || || || || || || ||
account. The amount of the deposit exceeds the amount of the
|| || || || || || || || || || ||
broker's commission for the sale. The broker can ONLY remove his
|| || || || || || || || || || ||
commission for the sale: || || ||
a.
,Anytime since the offer has been accepted and there is a valid sales
|| || || || || || || || || || || ||
contract
||
b.
When the closing is completed
|| || || ||
c.
Anytime as long as the seller consents
|| || || || || ||
d.
Once the buyer has officially moved into the property
|| || || || || || || ||
When the closing is completed
|| || || ||
Is a Virginia broker allowed to establish a firm office in her
|| || || || || || || || || || || ||
residential home? ||
a.
Yes, if the office is kept separate from the living space
|| || || || || || || || || ||
b.
No, a firm office cannot operate on a residential property
|| || || || || || || || ||
c.
Not unless the home office is at least 500 square feet in size
|| || || || || || || || || || || ||
d.
Yes, as long as there is a separate office parking area
|| || || || || || || || || ||
a.
, Yes, if the office is kept separate from the living space
|| || || || || || || || || ||
Owner Kelly is leaving the area for a one year period. She asks
|| || || || || || || || || || || || ||
Salesperson Boren to manage her rental home for $45 per month
|| || || || || || || || || || ||
while she is gone. In this situation, which of the following
|| || || || || || || || || || ||
statements is true? || ||
a.
This is fine because the time element is not longer than one year
|| || || || || || || || || || || ||
b.
This is fine because the compensation is less than $1,000
|| || || || || || || || ||
c.
Boren must put the $45 in an interest-bearing escrow account
|| || || || || || || || ||
d.
Boren must work through his broker
|| || || || ||
d.
Boren must work through his broker
|| || || || ||
When acting as a buyer's agent, what responsibilities should the
|| || || || || || || || || ||
broker have towards the seller of the property?
|| || || || || || ||
a.
