VRES - Virginia Real Estate Salesperson Exam

Question 1: A landlord in Newport News signs a written lease with a new tenant and also hands over the statement of tenant rights and responsibilities published by the state housing department. Which of the following states the deadline for delivering copies of both?

At the moment of signing

Within thirty calendar days

Within ten business days

Before the tenant takes possession

Question 2: A landlord in Harrisonburg never offers his tenant a written rental agreement and simply collects rent each month. The tenant later asks what terms actually govern the arrangement. Which of the following describes the statutory default that applies?

A twelve-month term with monthly installments

A month-to-month tenancy terminable at will

A tenancy at sufferance

A week-to-week tenancy under common law

Question 3: An owner living in Maryland rents out a house she owns in Prince William County and manages it herself from out of state. Which of the following does the Virginia Residential Landlord and Tenant Act require of her?

A Virginia real estate license

A surety bond filed with the locality

Quarterly inspections of the property

Appointment of a resident agent

Question 4: An investor buys a fully occupied fourplex in Roanoke and asks what becomes of the security deposits the prior owner collected from the sitting tenants. Which of the following describes the arrangement the Act contemplates about those existing deposits?

Tenants must re-deposit with the new owner

Deposits transfer with the property

The prior owner returns them at closing

Deposits are forfeited on sale

Question 5: A sailor renting an apartment near the Norfolk naval base receives permanent change of station orders midway through a twelve-month lease and needs out. Which of the following describes the option the Virginia Residential Landlord and Tenant Act gives him?

He may sublet without the landlord's consent

He must pay the remaining term

Early termination by military personnel is permitted

He may withhold rent meanwhile

Question 6: A tenant in Richmond reports a persistent plumbing failure to the local code office, and the landlord responds two weeks later by raising her rent sharply and threatening nonrenewal. Which of the following describes that conduct under the Act?

Prohibited retaliatory conduct

Permissible if applied to the whole building

Permissible, since rent is set by agreement

Actionable only through the eviction diversion program

Question 7: A property manager in Chesapeake collects several different sums from a tenant and needs to know which of them the Act treats as rent for purposes of the escrow and accounting rules. Which of the following falls outside that definition?

Prepaid rent paid two months ahead

A late charge specified in the lease

A monthly parking charge

The security deposit

Question 8: A tenant in Lynchburg violates a lease provision that has nothing to do with paying rent, and the landlord prepares a notice of termination. Which of the following states the cure period and termination date the statute requires?

Cure in seven, terminate in fourteen

Cure in ten, terminate in twenty

Cure in twenty-one, terminate in thirty

Cure in thirty, terminate in sixty

Question 9: A single-family rental in Chesterfield County is sold at foreclosure, and the purchaser intends to move into the house as her own primary residence while a tenant is still living there. Which of the following notice must she give?

Ninety days notice to the tenant

Thirty days notice to the tenant

Notice at the next rent due date

No notice, since foreclosure ends the lease

Question 10: A landlord preparing to lease a house in Virginia Beach reviews the disclosures the Act specifically requires of him, each paired with a remedy if he fails to give it. Which of the following is one of those required lease disclosures?

The age of roof and systems

The identity of the mortgage servicer

The last property tax assessment

Location in a military noise zone

Question 11: A buyer financing a house in Fairfax County signs a security instrument that names a third party to hold legal title with a power of sale. Which of the following identifies the parties to that instrument in Virginia?

Mortgagor and mortgagee only

Borrower, lender, and trustee

Grantor, grantee, and settlement agent

Vendor, vendee, and escrow holder

Question 12: A Virginia borrower defaults on a deed of trust and asks who will actually conduct the sale of the property if the lender proceeds. Which of the following describes the ordinary Virginia process for a residential deed of trust?

A circuit court commissioner appointed by decree

The lender, acting through its loan servicer

The trustee, under the power of sale

The sheriff, under a writ of execution

Question 13: A trustee is preparing two foreclosure sales, one on an owner-occupied house in Staunton and one on a vacant commercial parcel. Which of the following states the written notice periods the statute requires for each before each of those sales?

Sixty days house, fourteen days parcel

Thirty days for each property

Fourteen days house, sixty days parcel

Ninety days house, thirty days parcel

Question 14: A deed of trust on a rural parcel in Bedford County says nothing at all about how a foreclosure sale must be advertised before it takes place. Which of the following describes the advertising the statute then requires of that sale?

A single notice posted at the courthouse

Once a week for two successive weeks

Three consecutive daily publications

Once a week for four successive weeks

Question 15: A trustee in Danville has completed the required advertisements for a foreclosure and is now choosing a date for the auction itself. Which of the following describes the window within which that sale must occur under the statute?

Three to fifteen days after the last

Within sixty days of the first

Eight days after first, thirty after last

The first business day after advertising

Question 16: A trustee conducting a Virginia deed of trust foreclosure needs to select the place of the sale and wants to follow the statute rather than whatever local custom suggests. Which of the following describes the locations the Code contemplates?

Only the county administration building

At the premises or the courthouse

Only a licensed auction house

Wherever the beneficiary directs in writing

Question 17: Amendments adopted in recent years to Virginia's deed of trust statutes added a procedural safeguard that applies when a trustee forecloses on owner-occupied residential property in Virginia. Which of the following describes that added requirement of the trustee?

Affidavits confirming notice to the owner

Advance court approval of the sale

An independent appraisal filed with the clerk

Written consent from the local governing body

Question 18: A Virginia homeowner whose house sold at a trustee's foreclosure auction wants to reclaim the property by paying the debt in full. Which of the following describes her position under Virginia's non-judicial process for a deed of trust?

One year to redeem after sale

Redemption until the trustee's deed records

Her equity of redemption ended

Redemption by matching the winning bid

Question 19: A property owners' association in Loudoun County has an owner who is many months behind on assessments, and the board asks what enforcement tool reaches the property itself. Which of the following describes the remedy the Act provides?

A tax sale conducted by the treasurer

Suspension of the owner's voting rights

Reversion of the lot to the association

A lien for assessments, subject to foreclosure

Question 20: A closing statement for a Virginia sale shows a state recordation tax computed against the consideration stated in the deed. Which of the following describes the rate and the party who customarily bears that charge on a Virginia deed?

Twenty-five cents per hundred, the buyer

Fifty cents per five hundred, the buyer

One dollar per thousand, the seller

Ten cents per hundred, the seller

VRES Virginia Real Estate Salesperson Exam - Set 5 - Part 1