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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The government sends Ken a notice stating that his house and neighborhood will be demolished to build a much- needed water treatment plant. What is the government required to offer Ken in exchange for taking his property?

A) whatever they decide is reasonable
B) nothing, since it is for the public good
C) whatever Ken asks for
D) just compensation

2. A legally competent party to a contract will:

A) have reached the age of majority and be literate
B) not be mentally incompetent or intoxicated by drugs or alcohol and have legal representation
C) have reached the age of majority and not be mentally incompetent or intoxicated by drugs or alcohol
D) be literate and not be mentally incompetent or intoxicated by drugs or alcohol

3. Which of these is a person who is licensed to represent one of the parties in a real estate transaction in exchange for a commission or other valuable consideration?

A) assistant broker
B) broker
C) appraiser
D) salesperson

4. Janay lives in and is licensed as a salesperson in North Carolina but wants to practice real estate in Virginia. Which of the following is true?

A) The REB requires real estate professionals to have residency in the state of Virginia, so Janay cannot practice in Virginia.
B) The REB does not recognize or transfer licenses from other states, so Janay will need to complete all salesperson pre-licensure requirements.
C) Janay only needs to take and pass the state portion of the licensing exam.
D) The REB will require Janay to take a special licensing course for out-of-state residents.

5. If a condo owner is selling their unit, which of these documents should they present to a buyer?

A) resale certificate
B) Closing Disclosure
C) Loan Estimate
D) HUD-1

Solutions: