In one set of embodiments, new hardware-assisted virtualization features for a CPU are provided that include, among other things: (1) a new control structure that allows a kernel level hypervisor component to set, for each configurable property/setting maintained in an existing control structure, whether the property/setting is accessible from an unprivileged hypervisor mode of the CPU, (2) another new control structure that allows the kernel level hypervisor component to set, for each of a plurality of guest events or operations, whether the guest event or operation will cause a transition from a privileged or unprivileged guest mode of the CPU to the unprivileged hypervisor mode, and (3) the ability for the CPU to transition directly from the unprivileged hypervisor mode to the privileged or unprivileged guest mode.