VA REAL ESTATE PRACTICE EXAM 4
2025 QUESTIONS AND ANSWERS
A broker is NOT required to hold money in an escrow account if:
A. The deposit amount is less than $500
B. All parties to the transaction have agreed, in writing
C. Closing is scheduled in less than 30 days
D. The purchaser is a non-profit organization - ANS All parties to the transaction have agreed,
in writing
According to the Virginia Landlord-Tenant Act, a landlord's right to access rented property is
NOT restricted in which of the following circumstances?
A. Abandonment
B. Frozen water pipes
C. Emergency situations
D. All of the above - ANS All of the above
The unit owners of a condo project are unhappy with their association's management. As a
result, they want to amend the bylaws. What is the minimum percentage of affirmative votes to
change the bylaws?
A. 33.33%
B. 66.66%
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C. 75%
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, D. A simple majority - ANS A simple majority
The initial purchaser of a time-share estate has a statutory right to rescind a contract to
purchase. How long is this rescission period?
A. 5 days
B. 7 days
C. 10 days
D. None of the above - ANS 7 days
Juan obtains his license on May 3rd. How much continuing education must Juan complete?
A. 8 hours within the first year
B. 16 hours within the first two years
C. 30 hours within the first year
D. 30 hours before he can actually receive his license - ANS 30 hours within the first year
A violation of the Virginia License Law may subject a broker to:
A. Suspension of his license and a fine
B. A fine only
C. Revocation of his license and a fine
D. All of the above - ANS All of the above
A salesperson could have his license suspended or revoked for which of the following reasons?
A. Raising the price on a contract in order to influence a lender
2
B. Giving a false address in order to obtain a license
Page
@COPYRIGHT FYNDLAY 2025/2026
2025 QUESTIONS AND ANSWERS
A broker is NOT required to hold money in an escrow account if:
A. The deposit amount is less than $500
B. All parties to the transaction have agreed, in writing
C. Closing is scheduled in less than 30 days
D. The purchaser is a non-profit organization - ANS All parties to the transaction have agreed,
in writing
According to the Virginia Landlord-Tenant Act, a landlord's right to access rented property is
NOT restricted in which of the following circumstances?
A. Abandonment
B. Frozen water pipes
C. Emergency situations
D. All of the above - ANS All of the above
The unit owners of a condo project are unhappy with their association's management. As a
result, they want to amend the bylaws. What is the minimum percentage of affirmative votes to
change the bylaws?
A. 33.33%
B. 66.66%
1Page
C. 75%
@COPYRIGHT FYNDLAY 2025/2026
, D. A simple majority - ANS A simple majority
The initial purchaser of a time-share estate has a statutory right to rescind a contract to
purchase. How long is this rescission period?
A. 5 days
B. 7 days
C. 10 days
D. None of the above - ANS 7 days
Juan obtains his license on May 3rd. How much continuing education must Juan complete?
A. 8 hours within the first year
B. 16 hours within the first two years
C. 30 hours within the first year
D. 30 hours before he can actually receive his license - ANS 30 hours within the first year
A violation of the Virginia License Law may subject a broker to:
A. Suspension of his license and a fine
B. A fine only
C. Revocation of his license and a fine
D. All of the above - ANS All of the above
A salesperson could have his license suspended or revoked for which of the following reasons?
A. Raising the price on a contract in order to influence a lender
2
B. Giving a false address in order to obtain a license
Page
@COPYRIGHT FYNDLAY 2025/2026
