Virginia Real Estate Practice Exam
Questions With Correct Answers
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 - CORRECT
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ANSWER✔✔-a. Commingling |
Which regulation sets forth the Virginia Real Estate Board's licensing
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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 -
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CORRECT ANSWER✔✔-d. Virginia Administrative Code Title 18, Agency
| | | | | | | |
135, Chapter 20
| |
Karen just received her real estate license in Virginia. She must take
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post-licensing education this year and then she can renew her license
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next year. What type of license does Karen have?
| | | | | | | |
a. Associate broker
| |
b. Broker
|
c. Managing broker
| |
d. Salesperson - CORRECT 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| |
carpenter has a different story. | | | |
,c. Kevin's MLS remarks note that the condo has the city's "most
| | | | | | | | | | | |
beautiful twilight view of | | |
downtown and the bay." | | |
d. Kim notes that the property is next to a "serene, peaceful green
| | | | | | | | | | | | |
space." It's next to an | | | |
industrial park. - CORRECT ANSWER✔✔-c. Kevin's MLS remarks note
| | | | | | | | |
that the condo has the city's "most beautiful twilight view of
| | | | | | | | | |
downtown and the bay." | | |
John is 18 and he wants to be a real estate broker in Virginia. He is ready
| | | | | | | | | | | | | | | |
|to complete the 180 hours of required real estate licensing coursework.
| | | | | | | | | | |
Is there anything that might prevent him from doing this?
| | | | | | | | |
a. No - you go, John!
| | | | |
b. Yes - he must be at least 19 years old.
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c. Yes - he must have at least three years of experience as a Virginia
| | | | | | | | | | | | | | |
salesperson before he | |
can become a broker.
| | |
d. Yes - he must schedule his exam before beginning the required
| | | | | | | | | | | |
coursework. - CORRECT ANSWER✔✔-c. Yes - he must have at least three | | | | | | | | | | |
years of experience as a Virginia salesperson before he
| | | | | | | | |
can become a broker.
| | |
, Daniel is a full-time member of the armed services. He is renting a
| | | | | | | | | | | | |
property, but just received orders to relocate to a new base in another
| | | | | | | | | | | | |
state for no less than two years. What actions could he take related to
| | | | | | | | | | | | | |
his existing lease?
| |
a. Abandon the leased property
| | | |
b. Ask to be evicted from the property
| | | | | | |
c. He must fulfill the provisions of the lease
| | | | | | | |
d. Use the orders to receive a military release from his lease obligation -
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CORRECT ANSWER✔✔-d. Use the orders to receive a military release
| | | | | | | | | |
from his lease obligation
| | |
Virginia's Big Valley Brokerage was just audited and the auditor found
| | | | | | | | | | |
several instances of noncompliance. What happens next?
| | | | | |
a. The brokerage's license will be temporarily suspended until the
| | | | | | | | | |
noncompliance issue is | |
resolved.
b. The licenses of all affiliated brokers will be temporarily suspended.
| | | | | | | | | |
c. The principal broker must address the noncompliance or create a plan
| | | | | | | | | | |
to do so.
| | |
d. The principal broker must pay for another more in-depth audit within
| | | | | | | | | | | |
six weeks. - CORRECT ANSWER✔✔-c. The principal broker must address
| | | | | | | | | |
the noncompliance or create a plan to do so.
| | | | | | | |
Questions With Correct Answers
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 - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-a. Commingling |
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 -
| | | | | | | | | | |
CORRECT ANSWER✔✔-d. Virginia Administrative Code Title 18, Agency
| | | | | | | |
135, Chapter 20
| |
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 - CORRECT 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| |
carpenter has a different story. | | | |
,c. Kevin's MLS remarks note that the condo has the city's "most
| | | | | | | | | | | |
beautiful twilight view of | | |
downtown and the bay." | | |
d. Kim notes that the property is next to a "serene, peaceful green
| | | | | | | | | | | | |
space." It's next to an | | | |
industrial park. - CORRECT ANSWER✔✔-c. Kevin's MLS remarks note
| | | | | | | | |
that the condo has the city's "most beautiful twilight view of
| | | | | | | | | |
downtown and the bay." | | |
John is 18 and he wants to be a real estate broker in Virginia. He is ready
| | | | | | | | | | | | | | | |
|to complete the 180 hours of required real estate licensing coursework.
| | | | | | | | | | |
Is there anything that might prevent him from doing this?
| | | | | | | | |
a. No - you go, John!
| | | | |
b. Yes - he must be at least 19 years old.
| | | | | | | | | |
c. Yes - he must have at least three years of experience as a Virginia
| | | | | | | | | | | | | | |
salesperson before he | |
can become a broker.
| | |
d. Yes - he must schedule his exam before beginning the required
| | | | | | | | | | | |
coursework. - CORRECT ANSWER✔✔-c. Yes - he must have at least three | | | | | | | | | | |
years of experience as a Virginia salesperson before he
| | | | | | | | |
can become a broker.
| | |
, Daniel is a full-time member of the armed services. He is renting a
| | | | | | | | | | | | |
property, but just received orders to relocate to a new base in another
| | | | | | | | | | | | |
state for no less than two years. What actions could he take related to
| | | | | | | | | | | | | |
his existing lease?
| |
a. Abandon the leased property
| | | |
b. Ask to be evicted from the property
| | | | | | |
c. He must fulfill the provisions of the lease
| | | | | | | |
d. Use the orders to receive a military release from his lease obligation -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-d. Use the orders to receive a military release
| | | | | | | | | |
from his lease obligation
| | |
Virginia's Big Valley Brokerage was just audited and the auditor found
| | | | | | | | | | |
several instances of noncompliance. What happens next?
| | | | | |
a. The brokerage's license will be temporarily suspended until the
| | | | | | | | | |
noncompliance issue is | |
resolved.
b. The licenses of all affiliated brokers will be temporarily suspended.
| | | | | | | | | |
c. The principal broker must address the noncompliance or create a plan
| | | | | | | | | | |
to do so.
| | |
d. The principal broker must pay for another more in-depth audit within
| | | | | | | | | | | |
six weeks. - CORRECT ANSWER✔✔-c. The principal broker must address
| | | | | | | | | |
the noncompliance or create a plan to do so.
| | | | | | | |
