Virginia-Real-Estate-Salesperson Exam Questions Vce & Virginia-Real-Estate-Salesperson Sample Questions

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Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q62-Q67):

NEW QUESTION # 62
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:

Answer: D

Explanation:
When zoning laws change, an existing property use that was legal under the old zoning but is not permitted under the new zoning is considered a nonconforming use.
Example: A neighborhood store that continues operation in an area rezoned as residential.
This use is often "grandfathered in" and allowed to continue, though expansion or major changes may not be permitted.
Other options:
(A) Amendment = change to zoning laws, not the use itself.
(C) Conditional-use permit = allows a use not typically permitted but approved under conditions.
(D) Area variance = exception to zoning requirements, usually related to lot size/setbacks.
Reference (Virginia Real Estate):
Virginia Code Title 15.2 - Local Zoning Authority
Virginia Principles of Real Estate - Zoning & Land Use section
A490-02REGS.pdf - Land use controls


NEW QUESTION # 63
You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?

Answer: C

Explanation:


NEW QUESTION # 64
Why do lenders need liquidity?

Answer: A

Explanation:
Liquidity is a lender's ability to quickly convert assets into cash.
When lenders sell loans on the secondary mortgage market or securitize them into mortgage-backed securities (MBSs), they regain capital.
This liquidity allows lenders to issue more loans to new borrowers.
Other options:
(A) MBSs are a method to create liquidity, not the purpose.
(C) Investing in long-term assets would reduce liquidity.
(D) FHA insurance does not require liquidity.
Reference:
Fannie Mae & Freddie Mac guidelines
Virginia Real Estate Finance Principles - Secondary Mortgage Market section


NEW QUESTION # 65
Who regulates fair housing advertising?

Answer: C

Explanation:
The U.S. Department of Housing and Urban Development (HUD) regulates fair housing advertising under the Fair Housing Act (1968).
HUD issues rules on wording, images, and equal housing opportunity statements in ads.
Other agencies:
(A) HMDA (Home Mortgage Disclosure Act) - focuses on lending data, not advertising.
(C) CRA (Community Reinvestment Act) - ensures banks serve all communities fairly.
(D) ECOA (Equal Credit Opportunity Act) - prohibits discrimination in lending, not ads.
Reference:
Fair Housing Act, 42 U.S.C. §3601 et seq.
HUD Fair Housing Advertising Guidelines
Virginia Fair Housing Law (Title 36, Chapter 5.1)


NEW QUESTION # 66
Per se violations are:

Answer: B

Explanation:
In antitrust law, a per se violation is an act that is considered inherently illegal, regardless of intent or outcome.
Examples in real estate:
Price-fixing (brokers agreeing on commission rates).
Market allocation (dividing territories or clients).
Group boycotts (agreeing not to deal with a competitor).
These acts automatically violate the Sherman Antitrust Act without requiring proof of harm.
Other options confuse per se violations with other laws like TCPA (Do Not Call) or CAN-SPAM (email).
Reference (Virginia Real Estate):
Sherman Antitrust Act, 15 U.S.C. §§ 1-7
Virginia Real Estate Principles - Antitrust section
A490-02REGS.pdf - Professional conduct and antitrust


NEW QUESTION # 67
......

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