VIRGINIA REAL ESTATE STUDY 2026 EXAM QUESTIONS
AND ANSWERS SURE A+
✔✔As of July 1, 2012, property management agreements must include all of the
following EXCEPT
A) be in writing
B) have a suggested termination date of one year
C) state the amount of management fees
D) state the services to be rendered - ✔✔B
✔✔A seller offers a broker a listing agreement that contains the following clause: "Seller
must receive amount of $60,000 firn the sale of this property. Seller agrees that the
selling agent will receive, as his or her total compensation, any proceeds that remain
beyond that amount after satisfaction of seller's mortgage loan and any closing costs
incurred by the seller." Based on these facts, the broker
A) must decline this listing agreement because the clause violates REB regulations
B) must decline this listing agreement because it is not the standard form used in
Virginia
C) may accept this listing agreement because the clause is standard in an open listing.
D) may accept this listing agreement because it specifically limits the amount of the
compensation. - ✔✔A
✔✔A typical right-to-represent buyer agreement should contain all of the following
EXCEPT
A) statement of the duties to be performed
B) disclosure of how the broker will be paid
C) marketing plan
D) assurance that buyer has not entered into any other buyer representation agreement
- ✔✔C
, ✔✔Which of the following does NOT constitute the exercise of eminent domain by the
process of condemnation?
A) a county taking a farmers cropland for a highway
B) the state taking private woodland for the construction of a roadside visitor center
C) a county zoning ordinance change
D) port authority of Hampton Roads taking riparian rights for a pier - ✔✔C
✔✔All of the following items could be excluded from an augmented estate except
A) a condominium owned by the deceased spouse
B) a small farm willed to the deceased by his grandmother
C) a beach property sold with the spouses consent
D) a 52-foot sailboat purchased during the marriage - ✔✔D
✔✔Which of the statements concerning the homestead exemption is TRUE?
A) exemption is automatic; every homeowner has one
B) the homeowners filing for homestead exemption indicates financial difficulties
C) the homestead exemption is protection against claims for taxes, mechanics liens,
and deeds of trust against the property
D) the family bible, wedding rings, and burial plots are in addition to the $5,000 - ✔✔D
✔✔All of the following are true of an easement by necessity EXCEPT
A) it must be an appurtenant easement
B) both the dominant and the service the estates must have at some time in the past
been owned by the same person
C) inconvenience is a basis for the easement
D) the only reasonable means of access is over the servient estate - ✔✔C
✔✔A married couple owns real property as tenants by the entirety. One spouse dies
owing money to creditors. I'm this situation, the surviving spouse owns the entire
property
A) in severalty and is liable to the creditors
B) and is not liable to the creditors
C) except for a share owned by the creditors
D) and the creditors cannot make any claim to the property - ✔✔D
✔✔Which of the following is TRUE regarding Virginia's community property laws?
A) since 2001, the Virginia statue is patterned after California's stature
B) Virginia only recognizes some community property provisions
C) augmented estates are the same as community property provisions
D) Virginia is not a community property state - ✔✔D
✔✔Two partners in a successful accounting practice are in the process of purchasing a
small office condominium for their practice. They would NOT be able to take title as
A) tenants by the entirety (husband and wife)
AND ANSWERS SURE A+
✔✔As of July 1, 2012, property management agreements must include all of the
following EXCEPT
A) be in writing
B) have a suggested termination date of one year
C) state the amount of management fees
D) state the services to be rendered - ✔✔B
✔✔A seller offers a broker a listing agreement that contains the following clause: "Seller
must receive amount of $60,000 firn the sale of this property. Seller agrees that the
selling agent will receive, as his or her total compensation, any proceeds that remain
beyond that amount after satisfaction of seller's mortgage loan and any closing costs
incurred by the seller." Based on these facts, the broker
A) must decline this listing agreement because the clause violates REB regulations
B) must decline this listing agreement because it is not the standard form used in
Virginia
C) may accept this listing agreement because the clause is standard in an open listing.
D) may accept this listing agreement because it specifically limits the amount of the
compensation. - ✔✔A
✔✔A typical right-to-represent buyer agreement should contain all of the following
EXCEPT
A) statement of the duties to be performed
B) disclosure of how the broker will be paid
C) marketing plan
D) assurance that buyer has not entered into any other buyer representation agreement
- ✔✔C
, ✔✔Which of the following does NOT constitute the exercise of eminent domain by the
process of condemnation?
A) a county taking a farmers cropland for a highway
B) the state taking private woodland for the construction of a roadside visitor center
C) a county zoning ordinance change
D) port authority of Hampton Roads taking riparian rights for a pier - ✔✔C
✔✔All of the following items could be excluded from an augmented estate except
A) a condominium owned by the deceased spouse
B) a small farm willed to the deceased by his grandmother
C) a beach property sold with the spouses consent
D) a 52-foot sailboat purchased during the marriage - ✔✔D
✔✔Which of the statements concerning the homestead exemption is TRUE?
A) exemption is automatic; every homeowner has one
B) the homeowners filing for homestead exemption indicates financial difficulties
C) the homestead exemption is protection against claims for taxes, mechanics liens,
and deeds of trust against the property
D) the family bible, wedding rings, and burial plots are in addition to the $5,000 - ✔✔D
✔✔All of the following are true of an easement by necessity EXCEPT
A) it must be an appurtenant easement
B) both the dominant and the service the estates must have at some time in the past
been owned by the same person
C) inconvenience is a basis for the easement
D) the only reasonable means of access is over the servient estate - ✔✔C
✔✔A married couple owns real property as tenants by the entirety. One spouse dies
owing money to creditors. I'm this situation, the surviving spouse owns the entire
property
A) in severalty and is liable to the creditors
B) and is not liable to the creditors
C) except for a share owned by the creditors
D) and the creditors cannot make any claim to the property - ✔✔D
✔✔Which of the following is TRUE regarding Virginia's community property laws?
A) since 2001, the Virginia statue is patterned after California's stature
B) Virginia only recognizes some community property provisions
C) augmented estates are the same as community property provisions
D) Virginia is not a community property state - ✔✔D
✔✔Two partners in a successful accounting practice are in the process of purchasing a
small office condominium for their practice. They would NOT be able to take title as
A) tenants by the entirety (husband and wife)
