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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. A home is being sold "as is." Evaluate this situation.

A) The seller does not have to disclose any defects to the buyer.
B) The seller is planning to tear down the house before closing.
C) The seller is signaling that they do not want to do any repairs, regardless of what is found in the inspection.
D) The seller is indicating that they believe their home to be in pristine condition.

2. An agreement that gives only one broker and the owner the right to sell the property is called a(n):

A) exclusive agency listing
B) exclusive right-to-sell listing
C) open listing
D) net listing

3. The creation of express agency is best handled via a(n):

A) oral agreement or ratified actions
B) listing agreement or buyer representation agreement
C) listing agreement or ratified actions
D) oral agreement or buyer representation agreement

4. What would make claims based on a contract unenforceable?

A) the statute of limitations and doctrine of laches
B) mutual assent, lawful objective, and reality of consent
C) specific performance, rescission, and forfeiture
D) assignment, mediation, and arbitration

5. A leasehold agreement where the base rent changes is called a:

A) net lease
B) lease-purchase agreement
C) variable lease
D) percentage lease

Solutions: