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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. In Virginia, a supervising broker is:

A) a broker who opts to work under another broker and has no agents assigned to them
B) the licensed broker of a firm who takes responsibility for the actions of the firm and licensees; there is only one in the firm
C) a broker who has been designated by a principal broker to oversee the provision of real estate brokerage services by associate brokers and salespersons assigned to a branch office or a real estate team
D) a broker who is NOT affiliated with the brokerage representing a principal in a real estate transaction

2. Which of the following contracts has no legal effect and typically involves an illegal act, fraud, misrepresentation,duress, or undue influence?

A) a void contract
B) an implied contract
C) a valid contract
D) an oral contract

3. Which listing agreement allows multiple real estate brokers (and the owners themselves) the right to sell the property, with a commission being paid to whoever is the procuring cause of the sale?

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

4. If a condo owner is selling their unit, which of these documents should they present to a buyer?

A) HUD-1
B) Loan Estimate
C) resale certificate
D) Closing Disclosure

5. Sellers and license holders are required to disclose lead- based paint hazards on all properties built before:

A) 1978
B) 1976
C) 1972
D) 1974

Solutions: