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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The VRLTA applies to:

A) anyone who owns one property
B) anyone who owns more than five rental properties
C) anyone who owns more than two rental properties
D) anyone who owns a commercial property

2. Which of the following discussions is a violation of antitrust laws and is also an anti-competitive practice?

A) brokers commenting on the siding color on a newly listed home in their area
B) brokers agreeing to not show a certain broker's listings to their clients because they don't like that broker
C) two brokers discussing new laws enacted in their county
D) two brokers discussing how to cooperate more effectively in a specific real estate transaction

3. Ben would like to construct a restaurant on a parcel of land. This particular parcel is not zoned for commercial use. Ben should go to the city and seek a(n):

A) exemption
B) use variance
C) deferrence
D) encroachment

4. Peter and Ned co-own a type of real estate business together. This business is legally treated the same as a single person, meaning it is technically ownership in severalty. Peter and Ned are also not liable for the organization's debt. What type of business do Peter and Ned own?

A) sole proprietorship
B) general partnership
C) corporation
D) limited partnership

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

Solutions: