Real Estate Licensing Virginia Real Estate Salesperson Exam Questions Instant Access

Question 1

In order to protect the public interest, Virginia requires real estate professionals to get licenses. What kinds of licenses are offered?

Asales agent, broker, and property manager

Bbroker and assistant broker

Cresidential and commercial

Dbroker, salesperson, and firm

Answer : D

Virginia issues three types of real estate licenses:

Broker -- may operate independently, supervise others, and run a firm.

Salesperson -- must work under a broker.

Firm -- a business entity license allowing a company to operate as a brokerage.

Other options:

(A) Property manager is not a separate license category in Virginia.

(B) Assistant broker not a recognized license.

Code of Virginia 54.1-2106.1 (Licensing requirements)

Virginia Real Estate Board Regulations (Licensing categories)

Question 2

Which of the following is TRUE?

AVirginia enforces rent control state-wide.

BVirginia does enforce rent control, but only for commercial properties.

CVirginia does enforce rent control, but only in large cities.

DVirginia does not enforce rent control.

Answer : D

Virginia law does not allow or enforce rent control anywhere in the state.

Rental prices are governed by market conditions and lease agreements.

The Virginia Residential Landlord and Tenant Act (VRLTA) provides protections for tenants but does not regulate rental pricing.

Other options:

(A), (B), (C) Incorrect, as Virginia law expressly prohibits local rent control ordinances.

Reference (Virginia Real Estate):

Code of Virginia 55.1-1204 (VRLTA -- rent regulation)

Virginia Real Estate Principles -- Landlord-tenant law

A490-02REGS.pdf -- Leasing curriculum

Question 3

You're doing a CMA on a three-bedroom, two-bath, seven- year-old property. Choose the BEST comp from the following list:

Aa six-bedroom, four-bath, newly built property located a quarter mile away that sold six weeks ago

Ba three-bedroom, two-bath, seven-year-old property located a quarter mile away that sold two years ago

Ca three-bedroom, two-and-a-half bath, 15-year-old property located 20 miles away that sold 12 weeks ago

Da three-bedroom, one-bath, 12-year-old property located a quarter mile away that sold three months ago

Answer : B

When preparing a Comparative Market Analysis (CMA):

The best comp is most similar in location, age, size, and features.

Timeliness matters (more recent sales are preferred), but similarity in property type/size carries greater weight.

Analysis of options:

(A) Six-bedroom, new build = too dissimilar.

(B) Same size, age, and location --- best match, though sold 2 years ago.

(D) Closer in time but has fewer bedrooms/baths and is older.

Thus, (B) is the closest comparable.

Virginia Real Estate Principles & Practices -- CMA and appraisal methods

Real Estate Exam Prep -- Valuation & Market Analysis

Question 4

Vicarious liability is the common law concept that:

Alicense holders may ONLY be held liable if violations are brought to court

Ba person is liable for the actions of those acting with authority on that individual's behalf

Cbrokers are free from taking responsibility for their agents' actions

Dagents cannot be held liable for violating fiduciary duties, while brokers can

Answer : B

Vicarious liability is a common law concept where a person in authority is responsible for the actions of another acting on their behalf:

In real estate, brokers are vicariously liable for the actions of their salespersons/agents when those actions are within the scope of their authority.

This does not absolve agents of their own liability, but it means the broker shares responsibility for ensuring compliance with real estate law and ethical standards.

Other options:

(A) Wrong -- liability doesn't depend on whether violations are taken to court.

(D) Wrong -- both brokers and agents can be held liable.

Reference (Virginia Real Estate):

Virginia Code 54.1-2101 et seq. (Broker supervisory responsibilities)

Real Estate Board Regulations 18 VAC 135-20-160

A490-02REGS.pdf -- Agency law & fiduciary duties

Question 5

A licensee could be found liable for all of the following EXCEPT:

Afailure to disclose a latent defect that the licensee should have reasonably known

Bfailure to disclose a known latent defect to the buyer

Cattempting to conceal a known latent defect

Dfailure to disclose an unknown latent defect in an inaccessible location

Answer : D

A latent defect is a hidden defect not readily discoverable by ordinary inspection. Under Virginia law, licensees are responsible for:

Disclosing known latent defects (B, C).

Not concealing or misrepresenting property conditions.

Exercising reasonable care, meaning they may also be liable for defects they should have reasonably known (A).

However, a licensee cannot be held liable for failing to disclose a defect that is:

Unknown to them, and

In an inaccessible location (e.g., behind walls, underground).

Thus, the correct exception is (D).

Reference (Virginia Real Estate):

Code of Virginia 55.1-703 (Property condition disclosures)

Virginia Real Estate Board Regulations 18 VAC 135-20-300 (Standards of Conduct)

A490-02REGS.pdf -- Disclosure requirements

Question 6

Which of these is a federal law that aims to protect people and the environment from the harmful effects of air pollution?

AClean Air Act

BSafe Drinking Water Act

CSuperfund Amendments and Reauthorization Act

DCERCLA

Answer : A

The Clean Air Act (CAA) is the federal law designed to protect human health and the environment from the harmful effects of air pollution.

It authorizes the EPA to set air quality standards, regulate emissions from industries and vehicles, and enforce compliance.

Other options:

(B) Safe Drinking Water Act protects water quality.

(D) CERCLA (Comprehensive Environmental Response, Compensation, and Liability Act) governs cleanup of hazardous waste sites (''Superfund'').

Reference (Virginia Real Estate):

Clean Air Act, 42 U.S.C. 7401 et seq.

Virginia Real Estate Principles -- Environmental issues section

Question 7

Arnav is interested in a residential property because he loves the antique light fixtures installed in every room. Corey is the license holder helping Arnav find a property. Which of the following is MOST TRUE about Corey's situation?

ACorey should specify verbally whether the light fixtures are the seller's personal property.

BCorey should not address the light fixtures, as it is safe to assume light fixtures will convey with the property title.

CCorey should mention the light fixtures to his sponsoring broker in case issues come up later.

DCorey should specify in writing whether the light fixtures are the seller's personal property.

Answer : D

Fixtures are items attached to the property and usually transfer with the real estate. Light fixtures are typically considered fixtures, not personal property.

However, disputes can arise if sellers intend to take them.

To avoid ambiguity, the agent should specify in writing in the contract whether fixtures convey.

Other options:

(A) Verbal agreements are unenforceable under the Statute of Frauds.

(B) While fixtures usually convey, assumptions create disputes.

Reference (Virginia Real Estate):

Code of Virginia 11-2 (Statute of Frauds)

Virginia Real Estate Principles -- Fixtures vs. Personal Property

A490-02REGS.pdf -- Contracts & property section