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VANED NATIONAL REAL ESTATE EXAM 2025
UPDATED ACTUAL EXAM WITH CORRECT
SOLUTIONS.
Question: A sublessee is a(n) - correct answer- . Tenant
Question: A major disadvantage of owning investment property
might be - correct answer- Lack of Liquidity
Question: The most favorable thing about a VA loan is that -
correct answer- VA loans guarranty gives the veteran favorable
financing terms because the lender is protected from loss
Question: Once the funds of a construction loan are disbursed
to the contractor, and if the sub-contractor is not paid, - correct
answer- . The sub-contractor can file a lien against the home,
even if the home is sold, after it closes
Question: Marie dies intestate, and her property will transfer
according to intestate succession. This means - correct
answer- . The courts will give the property based on state law
,2 | Page
Question: A seller cannot get marketable title due to a break in
the chain of title. He will need - correct answer-
- correct answer- . Quiet title Action
Question: Which is the term used for the person or organization
who acts as an intermediary for the purpose of obtaining
financing? - correct answer- Mortgage Broker
Question: Seller Andy had a custom table made to fit in a
corner of his study, attached to the floorboards on one end.
When he sells his home the table will be considered - correct
answer- A fixture
Question: The term lis pendent refers to - correct answer- .
Advance notice of a lawsuit to be filed
Question: What kind of zoning would require that a developer
build 10% of the homes in a subdivision for low-income
families? - correct answer- Inclusionary
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Question: Functional obsolescence can be caused by - correct
answer- . An over-improvement of the property
Question: An owner may properly refuse to rent to a
prospective tenant because the prospective tenant is - correct
answer- A drug addict with abusive behavior
Question: 'A' purchased a commercial lot from 'B' based on 'B's
fraudulent representation as to lot size, zoning, and water
connections. 'A' cannot use the parcel purchased. What
remedy should 'A' seek? - correct answer- Recission
Question: An offer is accepted one day after the offer period
expires. How could the offeror create a valid contract? - correct
answer- Have the offeror sign a waiver of the offer period
Question: A broker has an exclusive-right-to sell listing. A buyer
offers to purchase the listed property. The buyer knows that the
broker is an agent of the seller, yet tells the agent in confidence
that she may be willing to increase his offer by $10,000 if it is
not accepted by the seller. The broker - correct answer-
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- correct answer- . Must convey this information to the seller
Question: To perfect a lien against personal property, a creditor
would record a(n) - correct answer- . Financing Statment
Question: A property manager needs to have a bid on floor
coverings based on this statement of fact. "The building he
manages is 90' by 60'. Sixty percent of the building will be
carpeted at a cost of $16.00 per square yard, and the
remainder will be tiled at a cost of $8.00 per square yard.
Estimate the cost of the floor covering. - correct answer- $7,680
Question: - correct answer-
A FSBO seller and buyer agree to terms on a contract to
purchase. The buyer then finds a structural defect during his
inspection, and cancels the contract. - correct answer- The
FSBO seller makes cosmetic repairs to cover the damage, and
lists the property with Agent M and informs him of the defect.
Buyer C buys the home, and does not perform an inspection.
Only after closing and moving into the home does buyer C
discover the material defect. Who is liable? Both FSBO and
Agent M are liabe
VANED NATIONAL REAL ESTATE EXAM 2025
UPDATED ACTUAL EXAM WITH CORRECT
SOLUTIONS.
Question: A sublessee is a(n) - correct answer- . Tenant
Question: A major disadvantage of owning investment property
might be - correct answer- Lack of Liquidity
Question: The most favorable thing about a VA loan is that -
correct answer- VA loans guarranty gives the veteran favorable
financing terms because the lender is protected from loss
Question: Once the funds of a construction loan are disbursed
to the contractor, and if the sub-contractor is not paid, - correct
answer- . The sub-contractor can file a lien against the home,
even if the home is sold, after it closes
Question: Marie dies intestate, and her property will transfer
according to intestate succession. This means - correct
answer- . The courts will give the property based on state law
,2 | Page
Question: A seller cannot get marketable title due to a break in
the chain of title. He will need - correct answer-
- correct answer- . Quiet title Action
Question: Which is the term used for the person or organization
who acts as an intermediary for the purpose of obtaining
financing? - correct answer- Mortgage Broker
Question: Seller Andy had a custom table made to fit in a
corner of his study, attached to the floorboards on one end.
When he sells his home the table will be considered - correct
answer- A fixture
Question: The term lis pendent refers to - correct answer- .
Advance notice of a lawsuit to be filed
Question: What kind of zoning would require that a developer
build 10% of the homes in a subdivision for low-income
families? - correct answer- Inclusionary
,3 | Page
Question: Functional obsolescence can be caused by - correct
answer- . An over-improvement of the property
Question: An owner may properly refuse to rent to a
prospective tenant because the prospective tenant is - correct
answer- A drug addict with abusive behavior
Question: 'A' purchased a commercial lot from 'B' based on 'B's
fraudulent representation as to lot size, zoning, and water
connections. 'A' cannot use the parcel purchased. What
remedy should 'A' seek? - correct answer- Recission
Question: An offer is accepted one day after the offer period
expires. How could the offeror create a valid contract? - correct
answer- Have the offeror sign a waiver of the offer period
Question: A broker has an exclusive-right-to sell listing. A buyer
offers to purchase the listed property. The buyer knows that the
broker is an agent of the seller, yet tells the agent in confidence
that she may be willing to increase his offer by $10,000 if it is
not accepted by the seller. The broker - correct answer-
, 4 | Page
- correct answer- . Must convey this information to the seller
Question: To perfect a lien against personal property, a creditor
would record a(n) - correct answer- . Financing Statment
Question: A property manager needs to have a bid on floor
coverings based on this statement of fact. "The building he
manages is 90' by 60'. Sixty percent of the building will be
carpeted at a cost of $16.00 per square yard, and the
remainder will be tiled at a cost of $8.00 per square yard.
Estimate the cost of the floor covering. - correct answer- $7,680
Question: - correct answer-
A FSBO seller and buyer agree to terms on a contract to
purchase. The buyer then finds a structural defect during his
inspection, and cancels the contract. - correct answer- The
FSBO seller makes cosmetic repairs to cover the damage, and
lists the property with Agent M and informs him of the defect.
Buyer C buys the home, and does not perform an inspection.
Only after closing and moving into the home does buyer C
discover the material defect. Who is liable? Both FSBO and
Agent M are liabe
