VIRGINIA REAL ESTATE LICENSE
EXAM 2026/2027 | 120 DPOR
PRACTICE QUESTIONS & ANSWERS
WITH RATIONALES | SALESPERSON
CERTIFICATION STUDY GUIDE
1. In Virginia, which contract element is essential for a valid real estate sales
contract?
A. Acknowledgment by a notary
B. Recording with the circuit court
C. Offer, acceptance, and consideration
D. Attorney review period
Correct: C
Rationale: Offer, acceptance, and consideration are fundamental elements of a valid
contract in Virginia. Notarization, recording, and attorney review are not required for
validity, though they may affect enforceability or priority .
2. Which Virginia law requires sellers of residential property to provide a
disclosure statement?
A. Virginia Residential Property Disclosure Act
B. Virginia Fair Housing Law
C. Virginia Condominium Act
D. Virginia Uniform Statewide Building Code
Correct: A
Rationale: The Virginia Residential Property Disclosure Act mandates sellers to furnish
a disclosure statement regarding property conditions. The Fair Housing Law,
Condominium Act, and Building Code address different regulatory areas .
3. For a Virginia salesperson, which activity requires a separate mortgage loan
originator license?
A. Negotiating a purchase price
B. Advertising a listing
C. Taking a loan application
D. Preparing a comparative market analysis
Correct: C
Rationale: Taking a loan application constitutes mortgage loan origination, requiring a
,separate MLO license under Virginia law. Negotiating price, advertising, and preparing
a CMA are real estate brokerage activities .
4. In Virginia, which deed provides the greatest warranty to a grantee?
A. Quitclaim deed
B. Special warranty deed
C. Bargain and sale deed
D. General warranty deed
Correct: D
Rationale: A general warranty deed includes covenants of seisin, quiet enjoyment, and
warranty against all encumbrances, offering the broadest protection. Quitclaim, special
warranty, and bargain and sale deeds provide lesser or no warranties .
5. Under Virginia residential landlord-tenant law, what is the maximum security
deposit for a rental unit?
A. One month's rent
B. Two months' rent
C. Three months' rent
D. No statutory limit
Correct: B
Rationale: Virginia Code § 55.1-1226 limits security deposits to no more than two
months' rent. One month is too low, three months exceeds the cap, and there is a
statutory limit .
6. A buyer submits an offer with a 10-day financing contingency. On day 8, the
buyer is denied financing. What must the buyer do to protect their earnest
money under Virginia law?
A. Nothing; the contingency automatically terminates the contract and requires
refund.
B. Notify the seller in writing within the contingency period of the financing denial.
C. Wait for the seller to demand release of the earnest money before acting.
D. Provide oral notice to the listing agent within 48 hours of denial.
Correct: B
Rationale: Virginia contract law requires the buyer to give written notice of financing
denial within the contingency period to preserve the right to earnest money refund. The
contingency is not automatic; the buyer must affirmatively act. Oral notice is
insufficient, and waiting shifts the advantage to the seller .
7. A Virginia salesperson receives an earnest money deposit from a buyer.
Within what timeframe must this deposit be delivered to the principal broker?
A. Within 24 hours
B. Within 5 business banking days
C. Within 10 calendar days
D. Within 30 days
, Correct: B
Rationale: Virginia law requires salespersons to deliver earnest money deposits to their
principal broker within five business banking days of receipt. The broker must then
deposit the funds into an escrow account. Delaying beyond this timeframe violates
Virginia escrow requirements .
8. Which Virginia state agency has regulatory authority over real estate
licensees?
A. Virginia Real Estate Commission
B. Department of Professional and Occupational Regulation (DPOR)
C. Virginia Department of Commerce
D. Attorney General's Office
Correct: B
Rationale: The Department of Professional and Occupational Regulation (DPOR) is the
state agency that regulates real estate licensees in Virginia. Within DPOR, the Virginia
Real Estate Board (VREB) administers licensing and enforcement .
9. In Virginia, a salesperson may receive compensation directly from which
source?
A. The buyer at closing
B. The seller at closing
C. Only through the supervising broker
D. Any party to the transaction
Correct: C
Rationale: Virginia law prohibits salespersons from receiving compensation directly
from buyers or sellers. All compensation must flow through the supervising broker.
Accepting payment directly violates Virginia Real Estate License Law and can result in
disciplinary action .
10. A Virginia broker must maintain transaction records for at least how long?
A. 1 year
B. 3 years
C. 5 years
D. 10 years
Correct: B
Rationale: Virginia law requires brokers to retain real estate transaction records for a
minimum of three years from the date of closing or termination of the listing
agreement. These records must be available for inspection by the Virginia Real Estate
Board during audits .
11. A Virginia salesperson license applicant must complete how many hours of
Board-approved pre-license education?
A. 45 hours
B. 60 hours
EXAM 2026/2027 | 120 DPOR
PRACTICE QUESTIONS & ANSWERS
WITH RATIONALES | SALESPERSON
CERTIFICATION STUDY GUIDE
1. In Virginia, which contract element is essential for a valid real estate sales
contract?
A. Acknowledgment by a notary
B. Recording with the circuit court
C. Offer, acceptance, and consideration
D. Attorney review period
Correct: C
Rationale: Offer, acceptance, and consideration are fundamental elements of a valid
contract in Virginia. Notarization, recording, and attorney review are not required for
validity, though they may affect enforceability or priority .
2. Which Virginia law requires sellers of residential property to provide a
disclosure statement?
A. Virginia Residential Property Disclosure Act
B. Virginia Fair Housing Law
C. Virginia Condominium Act
D. Virginia Uniform Statewide Building Code
Correct: A
Rationale: The Virginia Residential Property Disclosure Act mandates sellers to furnish
a disclosure statement regarding property conditions. The Fair Housing Law,
Condominium Act, and Building Code address different regulatory areas .
3. For a Virginia salesperson, which activity requires a separate mortgage loan
originator license?
A. Negotiating a purchase price
B. Advertising a listing
C. Taking a loan application
D. Preparing a comparative market analysis
Correct: C
Rationale: Taking a loan application constitutes mortgage loan origination, requiring a
,separate MLO license under Virginia law. Negotiating price, advertising, and preparing
a CMA are real estate brokerage activities .
4. In Virginia, which deed provides the greatest warranty to a grantee?
A. Quitclaim deed
B. Special warranty deed
C. Bargain and sale deed
D. General warranty deed
Correct: D
Rationale: A general warranty deed includes covenants of seisin, quiet enjoyment, and
warranty against all encumbrances, offering the broadest protection. Quitclaim, special
warranty, and bargain and sale deeds provide lesser or no warranties .
5. Under Virginia residential landlord-tenant law, what is the maximum security
deposit for a rental unit?
A. One month's rent
B. Two months' rent
C. Three months' rent
D. No statutory limit
Correct: B
Rationale: Virginia Code § 55.1-1226 limits security deposits to no more than two
months' rent. One month is too low, three months exceeds the cap, and there is a
statutory limit .
6. A buyer submits an offer with a 10-day financing contingency. On day 8, the
buyer is denied financing. What must the buyer do to protect their earnest
money under Virginia law?
A. Nothing; the contingency automatically terminates the contract and requires
refund.
B. Notify the seller in writing within the contingency period of the financing denial.
C. Wait for the seller to demand release of the earnest money before acting.
D. Provide oral notice to the listing agent within 48 hours of denial.
Correct: B
Rationale: Virginia contract law requires the buyer to give written notice of financing
denial within the contingency period to preserve the right to earnest money refund. The
contingency is not automatic; the buyer must affirmatively act. Oral notice is
insufficient, and waiting shifts the advantage to the seller .
7. A Virginia salesperson receives an earnest money deposit from a buyer.
Within what timeframe must this deposit be delivered to the principal broker?
A. Within 24 hours
B. Within 5 business banking days
C. Within 10 calendar days
D. Within 30 days
, Correct: B
Rationale: Virginia law requires salespersons to deliver earnest money deposits to their
principal broker within five business banking days of receipt. The broker must then
deposit the funds into an escrow account. Delaying beyond this timeframe violates
Virginia escrow requirements .
8. Which Virginia state agency has regulatory authority over real estate
licensees?
A. Virginia Real Estate Commission
B. Department of Professional and Occupational Regulation (DPOR)
C. Virginia Department of Commerce
D. Attorney General's Office
Correct: B
Rationale: The Department of Professional and Occupational Regulation (DPOR) is the
state agency that regulates real estate licensees in Virginia. Within DPOR, the Virginia
Real Estate Board (VREB) administers licensing and enforcement .
9. In Virginia, a salesperson may receive compensation directly from which
source?
A. The buyer at closing
B. The seller at closing
C. Only through the supervising broker
D. Any party to the transaction
Correct: C
Rationale: Virginia law prohibits salespersons from receiving compensation directly
from buyers or sellers. All compensation must flow through the supervising broker.
Accepting payment directly violates Virginia Real Estate License Law and can result in
disciplinary action .
10. A Virginia broker must maintain transaction records for at least how long?
A. 1 year
B. 3 years
C. 5 years
D. 10 years
Correct: B
Rationale: Virginia law requires brokers to retain real estate transaction records for a
minimum of three years from the date of closing or termination of the listing
agreement. These records must be available for inspection by the Virginia Real Estate
Board during audits .
11. A Virginia salesperson license applicant must complete how many hours of
Board-approved pre-license education?
A. 45 hours
B. 60 hours
