VIRGINIA LICENSE LAW AND MATH PRACTICE
FINAL EXAM SCRIPT 2026 COMPLETE
QUESTIONS AND ANSWERS
◍ Which of the following people involved in a real estate transaction are
"Principal to a transaction" according to Virginia real estate law?
1.Selling broker
2.Buyer
3.Listing broker
4.Appraiser Answer:2.
◍ The minimum educational requirement for a licensee during the first
year after obtaining a real estate salesperson's license in Virginia consists
of?
1.15 hours of classroom hours only
2.30 hours of classroom, or correspondence or other distance learning
3. 28 hours of classroom or distance learning.
,4. 25 hours of classroom or distance learning Answer:2
◍ A party to a real estate transaction including without limitation a seller
or buyer, landlord, or tenant, optionor or optionee, licensor or licensee,
describes which of the following?
1.Real estate broker
2.Real estate salesperson
3.Principal to a transaction
4Affiliate broker Answer:3.
◍ Performing which activity is exempt from holding a Virginia real
estate license?
1.trustee performing their duties under a living trust instrument
2.A LLC offering to sell a condo for another for a fee
3.Offers to list a friends time share for a fee
4.Negotiates a 1031 tax exchange for their landlord for free rent
Answer:1
,◍ When may the Board adjust the required hours for re-licensure of a
broker and salesperson?
1. 2 years
2. 3 years
3. year-by-year basis
4. 4 years Answer:3
◍ An auctioneer selling real estate at a public auction for the owner does
not need to have a real estate license, if the auction is open for only ___
hours.
1. 12
2. 24
3. 36
4. 48 Answer:4.
◍ Unless agreed upon in writing by the principles of the transaction.
Any licensed real estate licensee in Virginia acting on behalf of a
, landlord client in connection with a lease. Shall deposit monies into an
escrow account with in how many days?
1. by the end of the fifth business banking day
2. Within Reasonable time
3. By the end of the tenth business day
4. By the end of the fifth calendar day Answer:1
◍ A broker's salaried employee may not do the following without a real
estate license?
1.Provide the prospective tenants with factual information about the
lease
2. Accept applications for leases
3.Accept security deposits and rentals for such real estate
4.Negotiate the amounts of such security deposits, rentals, or leases on
behalf of the owner or broker Answer:4.
◍ A person or business entity who for compensation, sells or offers for
sale, units or interest in condominiums, cooperative interests, or time-
shares in a time-share program, describes a
FINAL EXAM SCRIPT 2026 COMPLETE
QUESTIONS AND ANSWERS
◍ Which of the following people involved in a real estate transaction are
"Principal to a transaction" according to Virginia real estate law?
1.Selling broker
2.Buyer
3.Listing broker
4.Appraiser Answer:2.
◍ The minimum educational requirement for a licensee during the first
year after obtaining a real estate salesperson's license in Virginia consists
of?
1.15 hours of classroom hours only
2.30 hours of classroom, or correspondence or other distance learning
3. 28 hours of classroom or distance learning.
,4. 25 hours of classroom or distance learning Answer:2
◍ A party to a real estate transaction including without limitation a seller
or buyer, landlord, or tenant, optionor or optionee, licensor or licensee,
describes which of the following?
1.Real estate broker
2.Real estate salesperson
3.Principal to a transaction
4Affiliate broker Answer:3.
◍ Performing which activity is exempt from holding a Virginia real
estate license?
1.trustee performing their duties under a living trust instrument
2.A LLC offering to sell a condo for another for a fee
3.Offers to list a friends time share for a fee
4.Negotiates a 1031 tax exchange for their landlord for free rent
Answer:1
,◍ When may the Board adjust the required hours for re-licensure of a
broker and salesperson?
1. 2 years
2. 3 years
3. year-by-year basis
4. 4 years Answer:3
◍ An auctioneer selling real estate at a public auction for the owner does
not need to have a real estate license, if the auction is open for only ___
hours.
1. 12
2. 24
3. 36
4. 48 Answer:4.
◍ Unless agreed upon in writing by the principles of the transaction.
Any licensed real estate licensee in Virginia acting on behalf of a
, landlord client in connection with a lease. Shall deposit monies into an
escrow account with in how many days?
1. by the end of the fifth business banking day
2. Within Reasonable time
3. By the end of the tenth business day
4. By the end of the fifth calendar day Answer:1
◍ A broker's salaried employee may not do the following without a real
estate license?
1.Provide the prospective tenants with factual information about the
lease
2. Accept applications for leases
3.Accept security deposits and rentals for such real estate
4.Negotiate the amounts of such security deposits, rentals, or leases on
behalf of the owner or broker Answer:4.
◍ A person or business entity who for compensation, sells or offers for
sale, units or interest in condominiums, cooperative interests, or time-
shares in a time-share program, describes a
