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VIRGINIA EXAM PRACTICE EXAM||
QUESTIONS AND 199% CORRECT ANSWERS
ALREADY GRADED A+|| LATEST AND
COMPLETE UPDATE 2025 WITH VERIFIED
SOLUTIONS GUARANTEED A+
The types of agency relationship that are recognized under Virginia agency law
include all of the following EXCEPT
a. standard agent.
b. limited service agent.
c. independent contractor.
d. designated agent. - ANSWER: independent contractor
A triple murder was committed on a property six months ago. Virginia law
requires that disclosure of this fact be made
a. in the MLS listing.
b. prior to writing an offer to purchase.
c. three days prior to settlement.
d. in none of these. - ANSWER: in none of these
All of the following statements regarding the first-time homebuyers savings
accounts allowed in Virginia are true EXCEPT
a. account holders may contribute up to $50,000.
b. principal and interest up to $150,000 may be withdrawn without paying state
taxes.
c. funds must be used for real estate transaction costs listed on the Settlement
Statement (HUD-1).
d. funds may be held privately. - ANSWER: funds may be held privately
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The 2014 Virginia General Assembly changed the "trigger number" that
determines if a landlord is subject to the Virginia Residential Landlord Tenant Act
(VRLTA) to
a. two owned properties.
b. two rental properties plus a principal residence.
c. four rental properties in an urban area.
d. 10 rental properties in an urban area. - ANSWER: two rental properties plus a
principal residence
Ideally, all brokerage relationships end with a successful transaction that goes to
settlement. Other legal ways for termination of the relationship include all of the
following EXCEPT
a. mutual agreement by all parties.
b. a default by either party.
c. a request from either client or broker.
d. a licensee's withdrawal if a client refuses to consent to disclosed dual agency. -
ANSWER: a request from either client or broker
Virginia agency law lists seven statutory duties to be performed by all licensees.
The only one of these duties that allows for some variation is in the duty to
a. perform according to the terms of the brokerage relationship.
b. promote the best interests of the client.
c. maintain confidentiality of all personal and financial information.
d. exercise ordinary care. - ANSWER: promote the best interests of the client
The primary purpose for creating the new Disclosure of Dual Agency or Dual
Representation form was to
VIRGINIA EXAM PRACTICE EXAM||
QUESTIONS AND 199% CORRECT ANSWERS
ALREADY GRADED A+|| LATEST AND
COMPLETE UPDATE 2025 WITH VERIFIED
SOLUTIONS GUARANTEED A+
The types of agency relationship that are recognized under Virginia agency law
include all of the following EXCEPT
a. standard agent.
b. limited service agent.
c. independent contractor.
d. designated agent. - ANSWER: independent contractor
A triple murder was committed on a property six months ago. Virginia law
requires that disclosure of this fact be made
a. in the MLS listing.
b. prior to writing an offer to purchase.
c. three days prior to settlement.
d. in none of these. - ANSWER: in none of these
All of the following statements regarding the first-time homebuyers savings
accounts allowed in Virginia are true EXCEPT
a. account holders may contribute up to $50,000.
b. principal and interest up to $150,000 may be withdrawn without paying state
taxes.
c. funds must be used for real estate transaction costs listed on the Settlement
Statement (HUD-1).
d. funds may be held privately. - ANSWER: funds may be held privately
, 2|Page
The 2014 Virginia General Assembly changed the "trigger number" that
determines if a landlord is subject to the Virginia Residential Landlord Tenant Act
(VRLTA) to
a. two owned properties.
b. two rental properties plus a principal residence.
c. four rental properties in an urban area.
d. 10 rental properties in an urban area. - ANSWER: two rental properties plus a
principal residence
Ideally, all brokerage relationships end with a successful transaction that goes to
settlement. Other legal ways for termination of the relationship include all of the
following EXCEPT
a. mutual agreement by all parties.
b. a default by either party.
c. a request from either client or broker.
d. a licensee's withdrawal if a client refuses to consent to disclosed dual agency. -
ANSWER: a request from either client or broker
Virginia agency law lists seven statutory duties to be performed by all licensees.
The only one of these duties that allows for some variation is in the duty to
a. perform according to the terms of the brokerage relationship.
b. promote the best interests of the client.
c. maintain confidentiality of all personal and financial information.
d. exercise ordinary care. - ANSWER: promote the best interests of the client
The primary purpose for creating the new Disclosure of Dual Agency or Dual
Representation form was to
