Virginia State Exam Practice Questions With Correct Answers

Which of the following statements about the Notice of Disclosure Pursuant to Virginia Residential Property Disclosure Act is true? A. As part of the disclosure, the seller is required to provide a list of sex offenders living near the property. b. The buyer is required by law to request a copy of the disclosure. c. The disclosure form is not part of the purchase agreement. d. The disclosure form is part of the purchase agreement. - ANSWER-c. The disclosure form is not part of the purchase agreement. Which of the following transactions demonstrates designated agency? a. Benny, a licensee from New Days Realty, represents seller Carmine. Bert, a licensee from Expertise Realty, represents Cassandra, the buyer. b. Benny, a licensee, represents seller Carmine and buyer Cassandra. c. Licensee Benny represents seller Carmine, and licensee Boyd represents buyer Cassandra. They both work for New Days Realty. d. The seller, Carmine, is represented by licensee Benny. The buyer, Cassandra, is unrepresented. - ANSWER-c. Licensee Benny represents seller Carmine, and licensee Boyd represents buyer Cassandra. They both work for New Days Realty. A property is located in Planning District 15. Which facts must be disclosed? a. That either mining activities took place on the property or that it contains abandoned mines. b. That Planning District 15 is a flood-prone area. c. That Planning District 15 properties usually have special maintenance requirements because of their historical value. d. That these properties are affected by the Chesapeake Bay Act. - ANSWER-a. That either mining activities took place on the property or that it contains abandoned mines.