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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. If a partner is only an investor and only has liability up to the amount of their investment, they are considered a:

A) limited partner
B) tenant in common
C) general partner
D) tenant in partnership

2. What does the VRLTA aim to do?

A) regulate owner-occupied REO properties in Virginia
B) establish uniform laws to regulate leasehold interests and improve leasing practices in Virginia
C) monitor commercial leasing practices in Virginia
D) regulate landlord maintenance practices for industrial warehouses across the United States

3. An licensee in Virginia writes an online ad. It MUST include all of the below:

A) the licensee's name, the name of the firm in which the licensee is active, the city and state in which the licensee's place of business is located, and the licensee's phone number
B) the licensee's name, the name of the firm in which the licensee is active, and the city and state in which the licensee's place of business is located
C) the licensee's name and the name of the firm in which the licensee is active
D) the licensee's name, and the city and state in which the licensee's place of business is located

4. Which of the following can be described as a nonexclusive listing agreement that gives multiple brokers (and owners themselves) the right to sell property, and the individual who is considered to have procured the cause of the sale is the one who will receive the commission?

A) open listing
B) net listing
C) exclusive agency agreement
D) exclusive right-to-sell agreement

5. What is the legal doctrine by which the decedent's property will pass to the state without their consent if that individual dies without a will, a surviving spouse, lineal descendants, or other known heirs?

A) eminent domain
B) variance
C) escheat
D) police power

Solutions: