A city added curbs and gutters to six blocks for the benefit of the ad

Virginia State Real Estate Exam

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Question 1 of 5.

A city added curbs and gutters to six blocks for the benefit of the adjacent property owners. This improvement will most likely be paid for by

A. raising the city's property taxes.

B. a special assessment levied against the adjacent property owners.

C. a general lien filed against the adjacent property owners.

D. an appropriation from the city's general funding.

Explanation: Curbs and gutters that benefit specific parcels of land are classic examples of improvements financed by a special assessmentÃ¢â‚¬â€a charge levied only on the properties that receive the direct benefitÃ¢â‚¬â€rather than by general taxes or general-fund appropriations. The other choices describe broader funding mechanisms or incorrect legal devices.

Question 2 of 5.

A minor has entered into a written contract for the sale of inherited property. This agreement is:

A. a void contract

B. a binding contract

C. an illegal contract

D. a voidable contract

Explanation: A minor's contract is not automatically void or illegal; instead it is voidable at the minor's election. It is binding unless disaffirmed by the minor before majority or within a statutory period. Hence, voidable is the correct characterization.

Question 3 of 5.

Alicen needs the property's legal description to finish the contract. The best place to obtain the information is from the:

A. lender

B. listing agent

C. deed at closing

D. buyer's title commitment

Explanation: The buyer's title commitment (or binder) contains the exact legal description that will appear on the final policy and is the most authoritative source among the choices given. The deed at closing is not yet prepared, and the listing agent's data may be secondary.

Question 4 of 5.

A seller receives multiple offers and will accept only a cash offer. The broker will present:

A. the highest cash offer to the seller

B. the highest offer to the seller

C. only cash offers to the seller

D. all offers to the seller

Explanation: When the principal has given clear instruction to consider only cash offers, the agent's fiduciary duty is to obey that lawful instruction. Therefore the broker must screen out non-cash offers and present every remaining cash offer, not just the highest one.

Question 5 of 5.

Covenant of quiet enjoyment means:

A. that the owner gives up the right to enter the premises for any reason

B. that no tenant may cause disturbances such as loud music or barking dogs

C. that in multi-floor buildings tenants may not wear high heels or steel-tipped shoes

D. that the tenant can occupy the premises without interference from the owner or anyone else

Explanation: The covenant of quiet enjoyment guarantees the tenant undisturbed possession against the landlord or superior claimants; it is not about tenant behavior or building rules.