Virginia Property Management Certification
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SECTION 1: PROPERTY MANAGEMENT FUNDAMENTALS AND
LICENSING
1. What is the primary purpose of Virginia's Property Management
Certification programs as offered through professional real estate providers?
A) To replace the requirement for a real estate broker's license in management
activities
B) To provide legally binding authority to manage properties independently
without oversight
C) To deliver structured education in Virginia-specific property law, leasing
practices, maintenance coordination, and ethical practices
D) To certify property managers through acquiring education based on Virginia's
property management laws, special rules, and procedures
D) To certify property managers through acquiring education based on
Virginia's property management laws, special rules, and procedures
Rationale: The Virginia Property Management Certification programs are
designed as educational and professional development programs that provide
structured education in Virginia-specific property law, leasing practices,
maintenance coordination, and ethical practices.
2. In Virginia, which of the following activities performed by a property
manager generally requires a real estate license?
A) Collecting rent from tenants
B) Arranging for maintenance and repairs
C) Negotiating leases and showing rental properties to prospective tenants
D) Managing a property owned by the property manager
,C) Negotiating leases and showing rental properties to prospective tenants
Rationale: In Virginia, property management itself does not require a specific
license; however, many activities performed by property managers are considered
real estate activities and require proper licensure. Activities such as negotiating
leases, showing properties, and answering questions about leases typically require
a real estate license.
3. Under Virginia law, a licensee engaged to manage real estate shall perform
in accordance with which of the following?
A) The terms of the lease agreement only
B) The terms of the property management agreement
C) The instructions of the tenants
D) The preferences of the local real estate board
B) The terms of the property management agreement
Rationale: According to Virginia Code § 54.1-2135, a licensee engaged to manage
real estate shall perform in accordance with the terms of the property management
agreement.
4. Which of the following is considered a primary responsibility of a property
manager?
A) Preparing federal tax returns
B) Marketing rental properties
C) Auditing financial statements of tenants
D) Representing tenants in court
B) Marketing rental properties
Rationale: Property managers are primarily responsible for ensuring the property
is occupied, which involves advertising and marketing units effectively.
5. Under Virginia law, which document commonly establishes the legal
relationship between a property owner and a property manager?
,A) Residential Purchase Agreement
B) Lease Agreement between tenant and property manager
C) Deed of Trust
D) Property Management Agreement outlining duties, authorizing compensation,
and fiduciary responsibilities
D) Property Management Agreement outlining duties, authorizing
compensation, and fiduciary responsibilities
Rationale: A property management agreement defines the scope of authority,
responsibilities, compensation structure, and fiduciary duties between the property
owner and the manager, establishing the legal framework for management
services.
6. Virginia law requires property management agreements in residential real
estate transactions to be in writing and must include which of the following?
A) A definite termination date or duration
B) The amount of management fees and how and when they are to be paid
C) The services to be rendered by the licensee
D) All of the above
D) All of the above
Rationale: Virginia Code § 54.1-2135 requires that property management
agreements be in writing and include a definite termination date or duration, the
amount of management fees, the services to be rendered, and other agreed-upon
terms.
7. If a property management agreement does not specify a definite
termination date or duration, when does the agreement terminate under
Virginia law?
A) 30 days after the date of the agreement
B) 60 days after the date of the agreement
C) 90 days after the date of the agreement
D) 180 days after the date of the agreement
C) 90 days after the date of the agreement
, Rationale: Under Virginia Code § 54.1-2135, if a property management agreement
does not specify a definite termination date or duration, the agreement shall
terminate 90 days after the date of the agreement.
8. Which of the following is a core duty of a licensee engaged to manage real
estate under Virginia law?
A) Exercise ordinary care
B) Guarantee rental income to the owner
C) Provide legal advice to tenants
D) Waive all maintenance obligations
A) Exercise ordinary care
Rationale: Under Virginia Code § 54.1-2135, a licensee engaged to manage real
estate shall exercise ordinary care.
9. A property manager in Virginia must disclose to the owner which of the
following in a timely manner?
A) The owner's personal financial information
B) Material facts of which the licensee has actual knowledge concerning the
property
C) The tenant's credit score
D) The property manager's personal income
B) Material facts of which the licensee has actual knowledge concerning the
property
Rationale: Under Virginia Code § 54.1-2135, a licensee engaged to manage real
estate shall disclose in a timely manner to the owner material facts of which the
licensee has actual knowledge concerning the property.
10. A property manager in Virginia must maintain confidentiality of which of
the following?
A) All personal and financial information received from the client during the
brokerage relationship
Exam Questions And Correct Answers (Verified
Answers) Plus Rationale 2026 Q&A | Instant
Download PDF
SECTION 1: PROPERTY MANAGEMENT FUNDAMENTALS AND
LICENSING
1. What is the primary purpose of Virginia's Property Management
Certification programs as offered through professional real estate providers?
A) To replace the requirement for a real estate broker's license in management
activities
B) To provide legally binding authority to manage properties independently
without oversight
C) To deliver structured education in Virginia-specific property law, leasing
practices, maintenance coordination, and ethical practices
D) To certify property managers through acquiring education based on Virginia's
property management laws, special rules, and procedures
D) To certify property managers through acquiring education based on
Virginia's property management laws, special rules, and procedures
Rationale: The Virginia Property Management Certification programs are
designed as educational and professional development programs that provide
structured education in Virginia-specific property law, leasing practices,
maintenance coordination, and ethical practices.
2. In Virginia, which of the following activities performed by a property
manager generally requires a real estate license?
A) Collecting rent from tenants
B) Arranging for maintenance and repairs
C) Negotiating leases and showing rental properties to prospective tenants
D) Managing a property owned by the property manager
,C) Negotiating leases and showing rental properties to prospective tenants
Rationale: In Virginia, property management itself does not require a specific
license; however, many activities performed by property managers are considered
real estate activities and require proper licensure. Activities such as negotiating
leases, showing properties, and answering questions about leases typically require
a real estate license.
3. Under Virginia law, a licensee engaged to manage real estate shall perform
in accordance with which of the following?
A) The terms of the lease agreement only
B) The terms of the property management agreement
C) The instructions of the tenants
D) The preferences of the local real estate board
B) The terms of the property management agreement
Rationale: According to Virginia Code § 54.1-2135, a licensee engaged to manage
real estate shall perform in accordance with the terms of the property management
agreement.
4. Which of the following is considered a primary responsibility of a property
manager?
A) Preparing federal tax returns
B) Marketing rental properties
C) Auditing financial statements of tenants
D) Representing tenants in court
B) Marketing rental properties
Rationale: Property managers are primarily responsible for ensuring the property
is occupied, which involves advertising and marketing units effectively.
5. Under Virginia law, which document commonly establishes the legal
relationship between a property owner and a property manager?
,A) Residential Purchase Agreement
B) Lease Agreement between tenant and property manager
C) Deed of Trust
D) Property Management Agreement outlining duties, authorizing compensation,
and fiduciary responsibilities
D) Property Management Agreement outlining duties, authorizing
compensation, and fiduciary responsibilities
Rationale: A property management agreement defines the scope of authority,
responsibilities, compensation structure, and fiduciary duties between the property
owner and the manager, establishing the legal framework for management
services.
6. Virginia law requires property management agreements in residential real
estate transactions to be in writing and must include which of the following?
A) A definite termination date or duration
B) The amount of management fees and how and when they are to be paid
C) The services to be rendered by the licensee
D) All of the above
D) All of the above
Rationale: Virginia Code § 54.1-2135 requires that property management
agreements be in writing and include a definite termination date or duration, the
amount of management fees, the services to be rendered, and other agreed-upon
terms.
7. If a property management agreement does not specify a definite
termination date or duration, when does the agreement terminate under
Virginia law?
A) 30 days after the date of the agreement
B) 60 days after the date of the agreement
C) 90 days after the date of the agreement
D) 180 days after the date of the agreement
C) 90 days after the date of the agreement
, Rationale: Under Virginia Code § 54.1-2135, if a property management agreement
does not specify a definite termination date or duration, the agreement shall
terminate 90 days after the date of the agreement.
8. Which of the following is a core duty of a licensee engaged to manage real
estate under Virginia law?
A) Exercise ordinary care
B) Guarantee rental income to the owner
C) Provide legal advice to tenants
D) Waive all maintenance obligations
A) Exercise ordinary care
Rationale: Under Virginia Code § 54.1-2135, a licensee engaged to manage real
estate shall exercise ordinary care.
9. A property manager in Virginia must disclose to the owner which of the
following in a timely manner?
A) The owner's personal financial information
B) Material facts of which the licensee has actual knowledge concerning the
property
C) The tenant's credit score
D) The property manager's personal income
B) Material facts of which the licensee has actual knowledge concerning the
property
Rationale: Under Virginia Code § 54.1-2135, a licensee engaged to manage real
estate shall disclose in a timely manner to the owner material facts of which the
licensee has actual knowledge concerning the property.
10. A property manager in Virginia must maintain confidentiality of which of
the following?
A) All personal and financial information received from the client during the
brokerage relationship
