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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The creation of express agency is best handled via a(n):

A) listing agreement or ratified actions
B) listing agreement or buyer representation agreement
C) oral agreement or ratified actions
D) oral agreement or buyer representation agreement

2. Which of the following provides the BEST explanation for why disclosure of material facts is required?

A) The material a property is made of can influence its value.
B) If known, they could cause a buyer or seller to take a different course of action.
C) All facts related to a real estate transaction must be disclosed.
D) Not all material facts are readily discernible.

3. Which of these ownership concepts gives each co-owner the right to possession of the whole property?

A) equitable interest
B) unity of time
C) undivided interest
D) sole proprietorship

4. The four phases of an environmental site assessment are, in order:

A) remediation, investigation, testing, management
B) testing, investigation, remediation, management
C) investigation, testing, remediation, management
D) management, investigation, testing, remediation

5. Contracts for the initial purchase of a cooperative interest may be rescinded without penalty how many days after either contract ratification or receipt of the POS?

A) 14 days
B) 21 days
C) 5 days
D) 10 days

Solutions: