Virginia State Test Practice 2 Exam With Complete Questions and Answers

Virginia State Test Practice 2 Exam With Complete Questions and Answers After an investigation by the DPOR, what comes next in the complaint process? a. A hearing is held. b.. A meeting is held between the parties involved to determine the facts of the matter. c. Interviews with witnesses and statements are obtained. d. Interviews with witnesses and statements are obtained. - answerb.. A meeting is held between the parties involved to determine the facts of the matter. Which of the following does Virginia's Condominium Act NOT do? a. Establishes condo owners' rights b. Mandates that all condo associations file a declaration c. Regulates how condos are created and sold d. Regulates the kind of mortgages that buyers can get - answerd. Regulates the kind of mortgages that buyers can get Who usually pays the recordation tax in Virginia? a. the buyer b. the lender c. the listing agent d. the seller - answera. the buyer Which of the following would most likely be regulated by a POA? a. Allowable age for POA members b. Curfew for POA members c. Exterior paint for all POA residences d. Interior furnishings for all POA residences - answerc. Exterior paint for all POA residences In Virginia, the floodplain consists of the floodway and the ______. a. Flood discharge area b. Flood fringe c. Property within a one mile radius d. Surrounding community - answerb. flood fringe Gerald is selling a property that is not on public water and sewer systems. Per the purchase agreement he has signed with the buyers, he must provide a certificate proving that water from the well is safe, and that the sewage disposal system works. When must the certificate be dated? a. Not more than 15 days prior to settlement b. Not more than 20 days prior to settlement c. Not more than 25 days prior to settlement d. Not more than 30 days prior to settlement - answerd. Not more than 30 days prior to settlement In Virginia, how long must completed real estate forms be kept on file with the broker? a. A minimum of three years b. At least six months c. One year d. Seven years - answera. A minimum of three years Salesperson Nicola just told her principal broker Carter that she's going to transfer to another brokerage. What duties, if any, does Carter have in this transaction? a. Carter must return Nicola's license to the VREB within 10 days. b. He has to fill out and submit Nicola's transfer request form. c. He must sign and file a transfer request with the VREB that includes the new sponsoring broker's signature. d. Nothing; Nicola and her new principal broker are responsible for completing the transfer. - answera. Carter must return Nicola's license to the VREB within 10 days. Are stigmatized property disclosures required in Virginia? a. No, stigmatized property disclosures are not required in Virginia. b. Yes, if the stigmatization is a death or felony that occurred within the last two years. c. Yes, this affects the physical structure of the property and must be disclosed. d. Yes, this is material to the property and must be disclosed. - answera. No, stigmatized property disclosures are not required in Virginia. Identify the landlord who is trying to include a prohibited clause in the rental agreement. a. Bob is a little bitter about a past experience and includes in a warning that he will sue any client who does not allow him access to an apartment that is leaking water into the unit below b. Frank's lease states that the security deposit shall be equal to two months' rent c. Lance's lease includes a statement that damages to the property will be added to the following month's rent d. Stacey asks all tenants to read the Virginia Residential Landlord Tenant Act so they will know their rights and states this in her rental agreement - answerc. Lance's lease includes a statement that damages to the property will be added to the following month's rent Which of the following is true about the Chesapeake Bay Preservation Act and its effects? a. Anyone who is selling property in the area that's affected by this act must provide additional disclosures to potential buyers.