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| Section | Weight | Objectives |
|---|---|---|
| Virginia State Portion | 33% | - Disclosure Requirements - Specific Acts Governing Real Estate Practice - Virginia Fair Housing Law and Regulations - Licensing Requirements and Regulations - Escrow Accounts and Trust Funds - Agency Definitions and Relationships |
| National Portion | 67% | - Transfer of Title - Valuation and Market Analysis - Property Condition and Disclosures - Contracts - Land Use Controls and Regulations - Property Ownership - General Principles of Agency - Practice of Real Estate - Financing - Real Estate Calculations |
1. What would make claims based on a contract unenforceable?
A) the statute of limitations and doctrine of laches
B) specific performance, rescission, and forfeiture
C) mutual assent, lawful objective, and reality of consent
D) assignment, mediation, and arbitration
2. What is a management proposal?
A) a report prepared by the property manager that informs the property owner(s) of their property's expenses, income, and disbursements
B) a subdivision plan that includes residential dwellings along with nonresidential real estate
C) a plan a property manager creates for managing a property, including an analysis of the market, financial standing, and operating budget
D) a budget for variable expenses
3. An area has been rezoned as residential, but a neighborhood store has been legacied in and allowed to continue its business.
This is an example of:
A) amendment
B) area variance
C) conditional-use permit
D) nonconforming use
4. The four phases of an environmental site assessment are, in order:
A) testing, investigation, remediation, management
B) management, investigation, testing, remediation
C) investigation, testing, remediation, management
D) remediation, investigation, testing, management
5. Which environmental law requires federal agencies to prepare environmental impact assessments and statements before undertaking a potentially impactful act?
A) The National Environmental Policy Act
B) Resource Conservation and Recovery Act
C) The Clean Air Act
D) The Clean Water Act
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: A |
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