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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What is a building permit?

A) legal document from a local authority that authorizes a construction or remodeling project
B) document that permits landowners to use land in a way that is typically not permitted by land use restrictions of zoning law
C) written permission from the government to seize private property for public use
D) document that permits changing the zoning of one small area within the existing zoning

2. Any non-natural structure built on or affixed to land is an:

A) improvement
B) encumbrance
C) emblements
D) appurtenance

3. Which of the following is TRUE?

A) Virginia does not enforce rent control.
B) Virginia enforces rent control state-wide.
C) Virginia does enforce rent control, but only in large cities.
D) Virginia does enforce rent control, but only for commercial properties.

4. The EGI of a building is $300,000. The operating costs are $30,000.
What is the NOI of the building?

A) $332,000
B) $264,000
C) $270,000
D) $215,000

5. An appraiser will most likely follow all of these steps in their appraisal, EXCEPT:

A) gathering and recording data
B) estimating the land value
C) reconciling the value estimates
D) setting a listing price for the property

Solutions: