Virginia Real Estate Exam Prep

VA Salesperson Practice Exam

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Virginia Sample Practice Real Estate Exam Questions and Answers

Virginia State Section

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Question 1

Which of the following isn't part of a deed?

A	Habendum
B	Premises
C	acknowledgement
D	novation

Question 2

Which of the following is required for an applicant to receive a Real Estate License?

A	Must be 25 or older
B	Must have a Bachelors degree
C	Must have lived in the state for more than a year
D	Must sit and pass the required exam

Question 3

What tenancies does Virginia allow?

A	Neither
B	Tenancy by the entirerty
C	Joint tenancy
D	Both

Question 4

In what circumstances, if any, can a broker in Virginia who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	In most circumstances, except when the buyer and seller are related
B	None; the broker may only collect compensation from one party to a transaction
C	Only when both buyer and seller give informed consent to this arrangement
D	Only when both buyer and seller have legal representation

Question 5

What is homestead protection?

A	Net cash remaining to investor after sale of investment property
B	The estimated value that an asset will have at then end of it's useful life
C	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
D	Gradual subsidence of waters, leaving dry land

Question 6

Mortgage "discount" points only apply if which of the following conditions are met?

A	The seller has agreed to pay 1% of the closing costs
B	The interest rate on the mortgage loan has been lowered by 2% for each point charged
C	The loan does not close and the buyer owes the lender for services rendered
D	The interest rate on the mortgage loan has been lowered by 1% for each point charged

Question 7

Standing trees would be considered:

A	Emblements
B	Personal Property
C	Chattels
D	Real property

Question 8

Is Virginia a community property state?

A	No
B	Yes

Question 9

What is a holographic will?

A	a will and testament that has been entirely handwritten and signed by the testator.
B	a standard boiler plate will.
C	a will that displays in 3D
D	a will that has been approved by each family member.

Question 10

Does Virginia allow Holographic wills?

A	No
B	Yes

Question 11

Which of the following would not put a sales person in jeopardy of losing their license in Virginia?

A	Convicted of a felony
B	Depositing his/her clients escrow money into a personal account
C	Placing an ad claiming to be a broker when they are not.
D	Being authorized to accept and excessive commission.

Question 12

Does Virginia allow reciprocity with other states?

A	No
B	Yes

Question 13

How soon can a broker receive a commission check after a closing in Virginia?

A	Once the offer sheet is signed.
B	When the Buyer moves in.
C	After the transaction is completed and funded.
D	Once the seller agrees to the price.

Question 14

The Salesperson license fee costs how much?

A	$170.00.
B	$160.00
C	$125.00
D	$150.00

Question 15

Which is not necessary for a valid contract?

A	offer
B	acceptance
C	due date
D	legal object

Question 16

What term means "going to the state?"

A	police power
B	Taxation
C	escheat
D	Eminent Domain

Question 16 Explanation:

Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 17

An easement by prescription may establish:

A	a claim to title
B	homestead rights
C	who owes back taxes
D	use of property

Question 18

Does Virginia have dower laws?

A	No
B	Yes

Question 19

Which of the following is a landlord's option for a tenant not paying the rent?

A	lock the tenant out of the apartment
B	unlawful detainer action in court
C	shutoff the gas
D	shut off the power

Question 20

Does Virginia have homestead laws?

A	No
B	Yes

Question 21

The license law is administered by:

A	The Real Estate Board
B	Virginia Department of Real Estate
C	Virginia Real Estate Commission
D	The commission for Real Estate

Question 22

Who is responsible for maintaining a habitable property and for complying with local housing and building codes?

A	Agent
B	Lessor
C	Lessee
D	Buyer

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