Real Estate Licensing Virginia-Real-Estate-Salesperson Actual Free Exam Questions & Community Discussion

Exam Code/Number: Virginia-Real-Estate-Salesperson
Exam Name/Title: Virginia Real Estate Salesperson Exam
Certification Provider: Real Estate Licensing
Corresponding Certification: Real Estate Licensing Certification

Exam Questions: 125
Updated On: Jun 03, 2026

Question #41

An licensee in Virginia writes an online ad. It MUST include all of the below:

A. the licensee's name, the name of the firm in which the licensee is active, the city and state in which the licensee's place of business is located, and the licensee's phone number

B. the licensee's name, and the city and state in which the licensee's place of business is located

C. the licensee's name and the name of the firm in which the licensee is active

D. the licensee's name, the name of the firm in which the licensee is active, and the city and state in which the licensee's place of business is located

Discussion 0

Correct Answer: C Vote an answer

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Question #42

Rosa is trying to get approved for a loan so she can purchase a new home. What type of value will the lender use to determine whether or not to approve Rosa's loan?

A. insurable value

B. appraised value

C. market value

D. assessed value

Discussion 0

Correct Answer: B Vote an answer

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Question #43

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

A. listing agreement or ratified actions

B. listing agreement or buyer representation agreement

C. oral agreement or ratified actions

D. oral agreement or buyer representation agreement

Discussion 0

Correct Answer: B Vote an answer

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Question #44

Mindy experienced a foreclosure process that included being named as a defendant in a lawsuit by her lender and seeing her home sold in a foreclosure sale. From that information, what can you guess about the category of foreclosure used and who holds the title to the property?

A. A nonjudicial foreclosure was necessary because a trustee holds the title.

B. A nonjudicial foreclosure was necessary because Mindy holds the title.

C. A judicial foreclosure was necessary because Mindy holds the title.

D. A judicial foreclosure was necessary because the lender holds the title.

Discussion 0

Correct Answer: C Vote an answer

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Question #45

Which of these ownership concepts gives each co-owner the right to possession of the whole property?

A. undivided interest

B. sole proprietorship

C. equitable interest

D. unity of time

Discussion 0

Correct Answer: A Vote an answer

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Question #46

Your client is buying a home. At closing, they pull you aside and whisper that the documents they're being asked to sign don't match the Closing Disclosure - suddenly, there are thousands of dollars of new fees. Is this a red flag for predatory lending? Why or why not?

A. No. As long as the title company has no objections, it doesn't matter if the Closina Disclosure and the real closina documents match.

B. No. It's normal for lenders to have significant last-minute changes to their fees.

C. Yes. The fees should match what was on the Closing Disclosure. Otherwise, that's a major red flag.

D. Yes. No client should be paying fees at closing. Those should always be pre-paid to the lender at least three days in advance.

Discussion 0

Correct Answer: C Vote an answer

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Question #47

What would make claims based on a contract unenforceable?

A. specific performance, rescission, and forfeiture

B. mutual assent, lawful objective, and reality of consent

C. the statute of limitations and doctrine of laches

D. assignment, mediation, and arbitration

Discussion 0

Correct Answer: C Vote an answer

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Question #48

Which of these describes a leasehold estate?

A. Shannon lives in her uncle's apartment and has the right to occupy it for the remainder of her life. After that, the property reverts back to her uncte.

B. Jung owns a building. He lives upstairs and runs the store downstairs.

C. Terrence occupies an apartment he doesn't own. He pays his landlord rent every month.

D. Janet owns a property she inherited from her father. There's a stipulation on the deed that it is only to be used for a residence. Otherwise, it reverts to him.

Discussion 0

Correct Answer: C Vote an answer

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Question #49

A form of insurance that protects the policyholder by covering any losses they might incur as a result of theft or fraud by specified individuals is:

A. a liability bond

B. a security bond

C. a fidelity bond

D. a risk management bond

Discussion 0

Correct Answer: C Vote an answer

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Question #50

Which of the following is NOT an option that a seller has after receiving a counteroffer?

A. accept the offer

B. reject the offer in writing

C. allow the offer to expire

D. discharge the contract

Discussion 0

Correct Answer: D Vote an answer

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