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Fixtures – Answer Used to be personal property, now real property Tests of a fixture (5) - Answer- Method of attachment - Adaptability - Agreement - Relationships of parties - Intent Fructus Naturales – Answer Plants that grow automatically on the sold land Fructus industrials – Answer Has right to come back and harvest (corn, apples, oranges) for one season

The Virginia Real Estate Board administers which of the following statutes? - Answer-The Virginia Fair Housing Act Virginia License Law defines a broker's place of business as a: - Answer-Physical location where real estate business is regularly transacted The Virginia Real Estate Board is empowered to: - Answer-Levy Fines A non-resident broker may open an office in Virginia, provided she does which of the following actions? Select one: - Answer-Files an irrevocable consent to suits a...

The landlord has 45 days to give a written notice of any deductions to the tenant's deposit (and any amount due) after termination of the tenancy and delivery of possession. ________ is money placed into a trust by a third party to be turned over to a grantee upon fulfillment of a contract. - Answer-Escrow. Escrow is to be placed inside of an account by a third party to be turned back to the grantee upon fulfillment of contract. An auctioneer selling real estate at a public auction for...

A conventional loan could be: A) FHA Insured B) VA guaranteed C) HUD originated D) None of the above - Answer-The answer is D) None of the above Conventional loans are those which are not FHA-Insured or VA guaranteed. HUD Does original loans Surplus funds realized at foreclosure sale generally belong to the: A) Purchaser at the Sheriff's sale B) Sheriff C) Mortgagee D) Foreclosed owner - Answer-The answer is D) Foreclosed owner If the property is sold at foreclosure and the...

Research and education - Answer-- Full time investor - Answer- license requirements - Answer- what is real estate or real property? - Answer--land and the improvements made to land, and the rights to use them. Land - Answer--land starts at the center of the earth, passes through the earth's surface, and continues on into space. it is possible for one person to own the rights to use its surface (surface rights), and still another to own the rights to use the airspace above it (air ri...

Basic Licensing Terms: Active Status - Answer-Any broker salesperson that is legally engaging in regulated acts of real estate brokerage Basic Licensing Terms: Actively Engaged - Answer-One with an active licenses, engaged in at least 40 hours per week in regulated real estate activity. This applies to brokers experience requirement (must be salesperson for 36 of 48 months) and to licensees seeking reciprocity. Basic Licensing Terms: Applicant - Answer-One who applies to the Board for a re...

Each of the following is a test of whether or not something is a fixture, EXCEPT: a. method of attachment b. adaptability c. cost d. relationship of the parties - Answer-c. cost Which of the following would be the best definition of an appurtenance? a. the right to cross the land of another b. items or rights that would ordinarily pass with the sale of real property c. right to water from a flowing source d. the land and improvements - Answer-b. items or rights that would ordinarily ...

VREB Stands For - Answer-Virginia Real Estate Board Title 54.1, Chapter 21 of the Code of Virginia Defines - Answer-the composition and authority of the Virginia Real Estate Board; Also sets for the requirements for licensure, defines the duties a licensee must perform, how those duties must be performed and what happens when if the licensee breaches those duties How many meetings does the VREB hold a year? - Answer-8 meetings per year Members of the VREB serve a term of what length? - ...

If the Board receives a written complaint regarding the actions of a regulant, what is the first thing the Board will do? - Answer-Review the complaint for possible violation Which of the following is true regarding a branch office of a VA real estate firm? - Answer-The office must have a separate license. An unlicensed investor plans to open a real estate brokerage business. The business will be operated as a sole proprietorship. Which of the following is true? - Answer-The investor must ...

Does not pay the Transaction Recovery Fund assessment - Answer-A real estate license could be suspended without investigation if the licensee: No one, only brokers can pay referral fees and split commissions with other brokerage/firms - Answer-A salesperson decides to offer a $500 referral bonus to anyone that finds an acceptable buyer for his listing. The salesperson can pay this referral bonus to: Before the owner agrees to list the property - Answer-A licensee contacts a homeowner and t...

Broker Zeke is busy and doesn't have time to go to the bank, so he deposits his client's earnest money funds into his personal account. He plans to move the funds to the appropriate account within a week. This violation is an example of ______. a. Commingling b. Contractural Interference c. Failure to disclose an agency relationship d. Performing services that would qualify as practice of law - Answer-a. Commingling Which regulation sets forth the Virginia Real Estate Board's licens...

(virginia time share act) For an initial purchaser, there is a _________day right of rescission. Meanwhile, a buyer has a 5-day right of rescission in a time share resale. - Answer-7 If VA license applicant has had a license suspended or revoked in any jurisdiction because of association with disciplinary action - Answer-A very detailed explanation of the event/circumstances must be included with his license application If there was a prior misdemeanor involving moral turpitude, sexual off...

Which statement about encumbrances is correct? Select one: A. An encumbrance must increase real property value B. A lease is an example of an encumbrance C. Encumbrances can only be created by an owner of real property D. Both A and C - Answer-B The most predictable element of severance is: Select one: A. Attachment B. Intent C. Agreement D. Adaption - Answer-C Fred bought a new boat and hired a contractor to build a dock on his lakefront property. Fred did not pay the contractor...

Supply and demand - Answer-Oversupply lower prices undersupply higher prices Demographics - Answer-Population size population growth family size age and come Unemployment income - Answer-Unemployment rises supply may increase because homeowners are forced to sell their homes due to financial hardship Be a fixture - Answer-Former personal property that automatically conveys it is most Heterogeneous - Answer-Every piece of real estate is unique both in terms of location in terms of nat...

Appurtenances - Answer-A right, privilege, or improvement that "runs with the land" Easements - Answer-the right to cross over another's land Chattel - Answer-personal property Trade Fixtures - Answer-items used by a commercial tenant for business. Items must be removed by tenant by the end of their lease or becomes property of the landlord. Severence - Answer-removal of things attached to the land (e.g., trees) Assemblage - Answer-merging two or more properties into a common o...

A nonresident who obtains a license as an active salesperson in VA is required to - Answer-Activate with a Virginia licensed broker The purpose of the Virginia real estate license law and Board related rules and regulations is to - Answer-Protect the public interest Two brokers are involved in a dispute over a commission split. Which of the following could become involved in the settlement of their dispute? - Answer-A court having jurisdiction over the brokers If the board receives a wr...

Nucleotide - Answer-Monomer of DNA Nucleoside - Answer-Molecule of ribose plus base 2-deoxyribose - Answer-sugar that has a H at the 2' C Ribose - Answer-Name of five carbon sugar that is found in RNA Basepair - Answer-Two nucleotides, one with a purine & one with a pyrimidine, connected by H bonds Antiparallel means - Answer-the two polynucleotide chains/strands run in opposite directions What two factors are the main determination of the Tm of DNA - Answer-Amount of G:C's &...

The visible or measurable features of an individual refer to _____... - Answer-their physical appearance How many chromosomes are in a human sperm?.. - Answer-23 An allele that can mask the presence of a recessive allele is a ____ allele. - Answer-dominant During meiosis, what happens to homologous chromosomes? - Answer-they move apart from one another What is the genotype of a person with cystic fibrosis? - Answer-homozygous recessive Mexican hairless dogs are hairless because of...

We are all biological systems - Answer-Organisms Biology's core theme and explains unity and diversity of life - Answer-Evolution Characteristics of living things: - Answer--organized -responds to stimuli -metabolize -reproduce -are adapted Biological systems are HIERARCHICAl (related to) - Answer-1. cells- basic unit of life 2. tissues 3. organs 4. organ system 5. organisms Cell type: Prokaryote - Answer-Domain: Eubacteria and Archara Cell Type: Eukaryote - Answer-Domain:...

Virginia Principles of Real Estate Exam Questions with 100% correct Answers