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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. When an individual hails a cab and tells the driver where they want to be taken, that passenger has entered into what kind of contract?

A) unilateral
B) implied
C) written
D) express

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

A) failure to disclose a latent defect that the licensee should have reasonably known
B) attempting to conceal a known latent defect
C) failure to disclose an unknown latent defect in an inaccessible location
D) failure to disclose a known latent defect to the buyer

3. Alana is renting a three-bedroom home for one year. Alana is the:

A) tenant or lessee
B) holdover tenant
C) tenant or lessor
D) optionor

4. According to the Virginia Residential Landlord Tenant Act (VRLTA) what is the maximum amount a landlord may keep as a security deposit?

A) one month's rent
B) two months' rent
C) $2,000
D) six months' rent

5. 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.

Solutions: