Virginia Real Estate Salesperson Exam –
Verified Practice Questions & Answers
with Detailed Rationales (2026 Edition)
1. Which statement best describes the statute of frauds in
Virginia real estate transactions?
A. It requires notarization of all contracts
B. It requires certain contracts to be in writing to be
enforceable
C. It applies only to leases under one year
D. It requires all real estate contracts to be recorded
The statute of frauds requires that certain agreements,
including real estate sale contracts and leases longer than
one year, must be in writing to be legally enforceable. Oral
agreements are generally not sufficient.
2. A broker receives an earnest money deposit. In Virginia,
the broker must deposit it:
A. Within 10 business days into any personal account
B. In a escrow/trust account no later than the timeframe
required by law/regulation
C. Only after ratified contract delivery
D. Within 30 days of closing
,Virginia law requires brokers to promptly deposit earnest
money into an escrow or trust account according to
regulatory timelines. Commingling or delaying deposit is a
violation.
3. Which fiduciary duty requires a broker to disclose
material facts to a client?
A. Obedience
B. Loyalty
C. Disclosure
D. Accounting
Disclosure obligates a broker to inform clients of all material
facts that could affect their decision-making, even if it is not
favorable to the client’s position.
4. A property is assessed at $300,000 and taxed at $1.10 per
$100 of assessed value. What is the annual tax?
A. $2,200
B. $3,000
C. $3,300
D. $33,000
300,000 ÷ 100 = 3,000; 3,000 × 1.10 = 3,300.
5. Which clause in a deed guarantees the grantor owns the
property and has the right to transfer it?
,A. Habendum clause
B. Covenant of seisin
C. Quitclaim clause
D. Escrow clause
The covenant of seisin guarantees the grantor owns the
estate being conveyed and has the legal right to transfer it.
6. In Virginia, an agency relationship is typically created by:
A. Operation of law only
B. Express or implied agreement between parties
C. Court order
D. Recording a deed
Agency relationships are created by mutual consent, either
express (written or oral agreement) or implied through
conduct.
7. Which of the following is NOT a characteristic of a general
lien?
A. It attaches to all property
B. It may arise from court judgments
C. It applies only to a specific parcel of land
D. It can affect personal and real property
A general lien attaches to all assets of a debtor, not just one
specific property.
, 8. A licensee in Virginia must disclose:
A. Only known structural defects
B. Material adverse facts actually known to them
C. Only facts requested by the buyer
D. Future zoning changes only
Licensees must disclose known material facts that could affect
value or desirability, but are not required to discover hidden
defects.
9. Which type of ownership includes the right of
survivorship?
A. Tenancy in common
B. Joint tenancy
C. Cooperative ownership
D. Severalty ownership
Joint tenancy includes right of survivorship, meaning
ownership passes automatically to surviving co-owners.
10. What is the primary purpose of the Virginia Real Estate
Board?
A. Set federal housing policy
B. Regulate and enforce licensing laws for real estate
professionals
C. Appraise property values
D. Approve mortgage loans
Verified Practice Questions & Answers
with Detailed Rationales (2026 Edition)
1. Which statement best describes the statute of frauds in
Virginia real estate transactions?
A. It requires notarization of all contracts
B. It requires certain contracts to be in writing to be
enforceable
C. It applies only to leases under one year
D. It requires all real estate contracts to be recorded
The statute of frauds requires that certain agreements,
including real estate sale contracts and leases longer than
one year, must be in writing to be legally enforceable. Oral
agreements are generally not sufficient.
2. A broker receives an earnest money deposit. In Virginia,
the broker must deposit it:
A. Within 10 business days into any personal account
B. In a escrow/trust account no later than the timeframe
required by law/regulation
C. Only after ratified contract delivery
D. Within 30 days of closing
,Virginia law requires brokers to promptly deposit earnest
money into an escrow or trust account according to
regulatory timelines. Commingling or delaying deposit is a
violation.
3. Which fiduciary duty requires a broker to disclose
material facts to a client?
A. Obedience
B. Loyalty
C. Disclosure
D. Accounting
Disclosure obligates a broker to inform clients of all material
facts that could affect their decision-making, even if it is not
favorable to the client’s position.
4. A property is assessed at $300,000 and taxed at $1.10 per
$100 of assessed value. What is the annual tax?
A. $2,200
B. $3,000
C. $3,300
D. $33,000
300,000 ÷ 100 = 3,000; 3,000 × 1.10 = 3,300.
5. Which clause in a deed guarantees the grantor owns the
property and has the right to transfer it?
,A. Habendum clause
B. Covenant of seisin
C. Quitclaim clause
D. Escrow clause
The covenant of seisin guarantees the grantor owns the
estate being conveyed and has the legal right to transfer it.
6. In Virginia, an agency relationship is typically created by:
A. Operation of law only
B. Express or implied agreement between parties
C. Court order
D. Recording a deed
Agency relationships are created by mutual consent, either
express (written or oral agreement) or implied through
conduct.
7. Which of the following is NOT a characteristic of a general
lien?
A. It attaches to all property
B. It may arise from court judgments
C. It applies only to a specific parcel of land
D. It can affect personal and real property
A general lien attaches to all assets of a debtor, not just one
specific property.
, 8. A licensee in Virginia must disclose:
A. Only known structural defects
B. Material adverse facts actually known to them
C. Only facts requested by the buyer
D. Future zoning changes only
Licensees must disclose known material facts that could affect
value or desirability, but are not required to discover hidden
defects.
9. Which type of ownership includes the right of
survivorship?
A. Tenancy in common
B. Joint tenancy
C. Cooperative ownership
D. Severalty ownership
Joint tenancy includes right of survivorship, meaning
ownership passes automatically to surviving co-owners.
10. What is the primary purpose of the Virginia Real Estate
Board?
A. Set federal housing policy
B. Regulate and enforce licensing laws for real estate
professionals
C. Appraise property values
D. Approve mortgage loans
