Virginia Real Estate Salesperson Exam
Practice Questions And Correct Answers
(Verified Answers) Plus Rationale 2026
Q&A| Instant Download Pdf
1. A buyer enters into a valid real estate contract but later refuses to
proceed without legal justification. Which remedy is most likely
available to the seller?
A. Rescission only
B. Punitive damages
C. Specific performance
D. Automatic termination without consequence
Answer: C
When a buyer breaches a valid real estate contract, the seller may
seek specific performance, which is a court order requiring the buyer
to complete the purchase because real estate is considered unique.
2. Which document officially transfers ownership of real property from
seller to buyer?
A. Mortgage
, B. Deed
C. Title insurance policy
D. Purchase agreement
Answer: B
A deed is the legal instrument used to transfer ownership interest in
real property from one party to another.
3. A listing agreement without a defined termination date is generally
considered:
A. Void
B. Illegal
C. Voidable
D. Not enforceable
Answer: C
A listing agreement lacking essential terms such as duration may be
voidable because it fails to clearly define the contractual obligations
of the parties.
4. Which type of agency relationship gives the broker the most authority
to act on behalf of a client?
A. Universal agency
B. General agency
C. Special agency
D. Dual agency
Answer: A
, Universal agency grants the broadest authority, allowing the agent
to act on all legal matters for the principal.
5. A property owner refuses to sell to a qualified buyer because of race.
This violates:
A. State contract law only
B. Fair Housing Act
C. Antitrust laws
D. Property tax regulations
Answer: B
The Fair Housing Act prohibits discrimination in housing transactions
based on protected classes such as race.
6. Which clause in a mortgage allows the lender to demand full
repayment upon sale of the property?
A. Defeasance clause
B. Escalation clause
C. Due-on-sale clause
D. Subordination clause
Answer: C
A due-on-sale clause requires the borrower to repay the full loan
balance when the property is sold or transferred.
7. The primary purpose of a deed of trust is to:
A. Transfer ownership immediately
B. Serve as collateral for a loan
, C. Eliminate taxes on property
D. Establish zoning rights
Answer: B
A deed of trust secures a loan by placing property as collateral, with
a trustee holding legal title until repayment.
8. Which appraisal approach is most commonly used for residential
properties?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Residual approach
Answer: C
The sales comparison approach evaluates similar recently sold
properties to determine value, making it ideal for residential real
estate.
9. A property owned by two people with unequal shares but rights of
survivorship is called:
A. Tenancy in common
B. Joint tenancy
C. Tenancy by entirety
D. Severalty
Answer: B
Practice Questions And Correct Answers
(Verified Answers) Plus Rationale 2026
Q&A| Instant Download Pdf
1. A buyer enters into a valid real estate contract but later refuses to
proceed without legal justification. Which remedy is most likely
available to the seller?
A. Rescission only
B. Punitive damages
C. Specific performance
D. Automatic termination without consequence
Answer: C
When a buyer breaches a valid real estate contract, the seller may
seek specific performance, which is a court order requiring the buyer
to complete the purchase because real estate is considered unique.
2. Which document officially transfers ownership of real property from
seller to buyer?
A. Mortgage
, B. Deed
C. Title insurance policy
D. Purchase agreement
Answer: B
A deed is the legal instrument used to transfer ownership interest in
real property from one party to another.
3. A listing agreement without a defined termination date is generally
considered:
A. Void
B. Illegal
C. Voidable
D. Not enforceable
Answer: C
A listing agreement lacking essential terms such as duration may be
voidable because it fails to clearly define the contractual obligations
of the parties.
4. Which type of agency relationship gives the broker the most authority
to act on behalf of a client?
A. Universal agency
B. General agency
C. Special agency
D. Dual agency
Answer: A
, Universal agency grants the broadest authority, allowing the agent
to act on all legal matters for the principal.
5. A property owner refuses to sell to a qualified buyer because of race.
This violates:
A. State contract law only
B. Fair Housing Act
C. Antitrust laws
D. Property tax regulations
Answer: B
The Fair Housing Act prohibits discrimination in housing transactions
based on protected classes such as race.
6. Which clause in a mortgage allows the lender to demand full
repayment upon sale of the property?
A. Defeasance clause
B. Escalation clause
C. Due-on-sale clause
D. Subordination clause
Answer: C
A due-on-sale clause requires the borrower to repay the full loan
balance when the property is sold or transferred.
7. The primary purpose of a deed of trust is to:
A. Transfer ownership immediately
B. Serve as collateral for a loan
, C. Eliminate taxes on property
D. Establish zoning rights
Answer: B
A deed of trust secures a loan by placing property as collateral, with
a trustee holding legal title until repayment.
8. Which appraisal approach is most commonly used for residential
properties?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Residual approach
Answer: C
The sales comparison approach evaluates similar recently sold
properties to determine value, making it ideal for residential real
estate.
9. A property owned by two people with unequal shares but rights of
survivorship is called:
A. Tenancy in common
B. Joint tenancy
C. Tenancy by entirety
D. Severalty
Answer: B
