Real Exam Questions and Verified Correct Answers JUST
RELEASED
Which regulation sets forth the Virginia Real Estate Board's licensing regulations?
a. Code of Virginia Title 53, Chapter 20
b. Real Estate Settlement Agents Act
c. Sherman Act
d. Virginia Administrative Code Title 18, Agency 135, Chapter 20 - answer>>>d. Virginia Administrative
Code Title 18, Agency 135, Chapter 20
In Virginia, how many hours of approved real estate courses must an individual complete before taking
the real estate broker's exam?
a. 180
b. 30
c. 60
d. 75 - answer>>>a. 180
Which of the following statements best describes a standard agent?
a. They are not required to perform all duties required by statute.
b. They only work for buyers.
c. They only work for sellers.
d. They perform duties required by statute throughout the transactional process. - answer>>>d. They
perform duties required by statute throughout the transactional process.
Which of the following should licensees be careful to avoid when interacting with an opposing party
who has a limited-service agent?
,a. Creating unintended dual agency
b. Interacting directly with the opposing party
c. Interacting with the limited service agent
d. Maintaining the confidentiality of information shared by the opposing party - answer>>>a. Creating
unintended dual agency
When a dispute arises between a condo association and an owner, where should the parties look to find
information about dispute resolution?
a. Condominium bylaws
b. Condominium declaration
c. Federal Fair Housing Act
d. The Virginia Condominium Act - answer>>>a. Condominium bylaws
Which of the following situations is the best example of a designated agency?
a. Agent Devin represents seller Angie, and agent Denise represents buyer Alex. Alex is
buying Angie's condo. Devin and Denise both work for Blue Skies Realty.
b. Agent Devin represents seller Angie, and agent Donovan represents buyer Alex. Alex is
buying Angie's condo. Agent Devin works for Blue Skies Realty and Donovan works for
Happy Homes Realty.
c. Agent Devin represents seller Angie and buyer Alex. Alex is buying Angie's condo.
d. Agent Devin represents seller Angie. The buyer Alex is unrepresented. Alex is buying
Angie's condo. - answer>>>a. Agent Devin represents seller Angie, and agent Denise represents buyer
Alex. Alex is
buying Angie's condo. Devin and Denise both work for Blue Skies Realty.
Which of the following can hold a Virginia broker's license?
,a. A brokerage company only
b. A person only
c. A person or an entity
d. A salesperson with more than five years' experience - answer>>>c. A person or an entity
After an investigation by the DPOR, what comes next in the complaint process?
a. A hearing is held.
b. A meeting is held between the parties involved to determine the facts of the matter.
c. Interviews with witnesses and statements are obtained.
d. The fee or penalty is assessed. - answer>>>b. A meeting is held between the parties involved to
determine the facts of the matter.
How often should a principal broker conduct an audit (or arrange to have one done)?
a. Every four years
Every three years
c. Every two years
Every year - answer>>>c. Every two years
According to the disclosure statement, what is a seller's disclosure requirement if they know that the
parcel of land behind their property is being rezoned for commercial development?
a. The seller is required to disclose this information.
b. The seller makes no representations.
c. The seller must provide the buyer with a zoning map.
d. This condition is not material to the property and need not be disclosed. - answer>>>b. The seller
makes no representations.
Why does a designated agency relationship require a disclosure signed by both parties?
, a. Because although each party is represented by a different licensee, all brokerage agreements are in
the broker's name. Consumers must be made aware of this.
b. Because the buyer's interests must take priority over the seller's interests.
c. Because the seller's interests must take priority over the buyer's interests.
d. It doesn't. - answer>>>a. Because although each party is represented by a different licensee, all
brokerage
Broker Zeke is busy and doesn't have time to go to the bank, so he deposits his client's earnest money
funds into his personal account. He plans to move the funds to the appropriate account within a week.
This violation is an example of ______.
a. Commingling
b. Contractural Interference
c. Failure to disclose an agency relationship
d. Performing services that would qualify as practice of law - answer>>>a. Commingling
Karen just received her real estate license in Virginia. She must take post-licensing education this year
and then she can renew her license next year. What type of license does Karen have?
a. Associate broker
b. Broker
c. Managing broker
d. Salesperson - answer>>>d. Salesperson
Which of the following is NOT an example of a misrepresentation or omission?
a. Kari knows that the low rent she's advertising for some new apartments is too good to be
true, but she advertises it anyway.
b. Katherine's ad for her newly-renovated home states, "new from the studs up." Her