West Virginia
Real Estate Salesperson
Final Assessment (Qns & Ans)
2025
General Instructions
1. Read All Questions Carefully: Make sure you understand each question.
2. Time Management: You have a specific amount of time to complete the exam.
Keep an eye on the clock and pace yourself.
3. Allowed Materials: Only use materials that are explicitly allowed. Unauthorized
materials can lead to disqualification.
4. ANS Format: Follow the required format for your ANS. For example, multiple-
choice questions might need you to select the best ANS, while essay questions
require detailed responses.
5. Academic Integrity: Adhere to the university's honor code. Any form of cheating or
plagiarism is strictly prohibited.
6. Technical Requirements: Ensure your computer and internet connection are
stable. For online exams, you might need a webcam and microphone for proctoring
purposes.
7. Submission: Submit your ANS before the time expires. Late submissions might
not be accepted.
©2024/2025
,1. Which of the following is the primary purpose of risk
management in real estate?
A) Improve profitability
B) Identify potential losses
C) Increase property value
D) Enhance marketing strategies
Correct ANS: B) Identify potential losses
2. What is the term for transferring risk to another party through
a contract?
A) Avoidance
B) Mitigation
C) Insulation
D) Transfer
Correct ANS: D) Transfer
3. Which of the following best describes a "hedging" strategy in
real estate investment?
A) Certainty of profit
©2024/2025
, B) Technique to minimize losses
C) Complete risk elimination
D) Investing in high-risk areas
Correct ANS: B) Technique to minimize losses
### Contract Law
4. An essential element of a valid contract is:
A) Oral agreement
B) Mutual consideration
C) Written documentation only
D) Verbal confirmation
Correct ANS: B) Mutual consideration
5. Which clause in a real estate contract allows a buyer to exit a
contract if certain conditions are not met?
A) Liquidated damages clause
B) Contingency clause
C) Force majeure clause
D) Indemnification clause
©2024/2025
, Correct ANS: B) Contingency clause
6. In the event of a breach of contract, the non-breaching party is
entitled to:
A) Punitive damages only
B) Expectation damages
C) Nominal damages only
D) Consequential damages only
Correct ANS: B) Expectation damages
### The Code of Ethics, Buyer Representation, and Your Value
Proposition
7. According to the National Association of Realtors' Code of
Ethics, which duty is paramount?
A) Loyalty to clients
B) Duty to the public
C) Obligation to colleagues
D) Financial gain
Correct ANS: A) Loyalty to clients
©2024/2025
Real Estate Salesperson
Final Assessment (Qns & Ans)
2025
General Instructions
1. Read All Questions Carefully: Make sure you understand each question.
2. Time Management: You have a specific amount of time to complete the exam.
Keep an eye on the clock and pace yourself.
3. Allowed Materials: Only use materials that are explicitly allowed. Unauthorized
materials can lead to disqualification.
4. ANS Format: Follow the required format for your ANS. For example, multiple-
choice questions might need you to select the best ANS, while essay questions
require detailed responses.
5. Academic Integrity: Adhere to the university's honor code. Any form of cheating or
plagiarism is strictly prohibited.
6. Technical Requirements: Ensure your computer and internet connection are
stable. For online exams, you might need a webcam and microphone for proctoring
purposes.
7. Submission: Submit your ANS before the time expires. Late submissions might
not be accepted.
©2024/2025
,1. Which of the following is the primary purpose of risk
management in real estate?
A) Improve profitability
B) Identify potential losses
C) Increase property value
D) Enhance marketing strategies
Correct ANS: B) Identify potential losses
2. What is the term for transferring risk to another party through
a contract?
A) Avoidance
B) Mitigation
C) Insulation
D) Transfer
Correct ANS: D) Transfer
3. Which of the following best describes a "hedging" strategy in
real estate investment?
A) Certainty of profit
©2024/2025
, B) Technique to minimize losses
C) Complete risk elimination
D) Investing in high-risk areas
Correct ANS: B) Technique to minimize losses
### Contract Law
4. An essential element of a valid contract is:
A) Oral agreement
B) Mutual consideration
C) Written documentation only
D) Verbal confirmation
Correct ANS: B) Mutual consideration
5. Which clause in a real estate contract allows a buyer to exit a
contract if certain conditions are not met?
A) Liquidated damages clause
B) Contingency clause
C) Force majeure clause
D) Indemnification clause
©2024/2025
, Correct ANS: B) Contingency clause
6. In the event of a breach of contract, the non-breaching party is
entitled to:
A) Punitive damages only
B) Expectation damages
C) Nominal damages only
D) Consequential damages only
Correct ANS: B) Expectation damages
### The Code of Ethics, Buyer Representation, and Your Value
Proposition
7. According to the National Association of Realtors' Code of
Ethics, which duty is paramount?
A) Loyalty to clients
B) Duty to the public
C) Obligation to colleagues
D) Financial gain
Correct ANS: A) Loyalty to clients
©2024/2025
