Virginia Real Estate Salesperson Exam Version 3
Practice exam for Salesperson and Broker License Exam under Real Estate Exams (Licensing Exams). 5 sample questions.
Sample Questions
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Question 1
A property is listed for $219,900. An offer of $210,000 is submitted to the listing licensee. The offer includes a free-standing stove and refrigerator. The seller accepts the price and the refrigerator, but is not willing to leave the stove. The listing licensee makes the change in the contract to exclude the stove. The seller signs and initials the change. The listing licensee contacts the buyer’s licensee by phone regarding the change. The buyers orally accept the change. Which of the following is true regarding this situation?
Correct Answer: A
Rationale: Changing terms creates a counteroffer that rejects the original. Real estate contracts require written acceptance under statute of frauds. Oral acceptance is invalid. Licensee cannot sign for buyer.
Rationale: Changing terms creates a counteroffer that rejects the original. Real estate contracts require written acceptance under statute of frauds. Oral acceptance is invalid. Licensee cannot sign for buyer.
Question 2
Under the terms of a land contract, the buyer is entitled to an executed deed to the property upon
Correct Answer: D
Rationale: Land contract gives equitable title during payments. Legal title transfers only when full payment is made. Possession and down payment do not convey deed.
Rationale: Land contract gives equitable title during payments. Legal title transfers only when full payment is made. Possession and down payment do not convey deed.
Question 3
Planned unit development zoning is also termed
Correct Answer: C
Rationale: PUD allows mixed uses and flexibility, often called cluster zoning to group buildings. Buffer separates uses. Downzoning reduces density. Exclusionary limits types.
Rationale: PUD allows mixed uses and flexibility, often called cluster zoning to group buildings. Buffer separates uses. Downzoning reduces density. Exclusionary limits types.
Question 4
In preparing for a listing presentation for a newly constructed home, an agent needs to know all but which one of the following on comparable homes?
Correct Answer: C
Rationale: CMA uses actual sales data: date, price, size. Assessor’s value is not market-based and often outdated or formula-driven.
Rationale: CMA uses actual sales data: date, price, size. Assessor’s value is not market-based and often outdated or formula-driven.
Question 5
A listing agent who intentionally conceals a material defect may be liable to the buyer for
Correct Answer: B
Rationale: Intentional concealment of known material fact is fraud. Misrepresentation can be innocent. Negligence is careless. Falsification is altering documents.
Rationale: Intentional concealment of known material fact is fraud. Misrepresentation can be innocent. Negligence is careless. Falsification is altering documents.