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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Which of the following can be described as a nonexclusive listing agreement that gives multiple brokers (and owners themselves) the right to sell property, and the individual who is considered to have procured the cause of the sale is the one who will receive the commission?

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

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

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

3. What is a building permit?

A) written permission from the government to seize private property for public use
B) document that permits changing the zoning of one small area within the existing zoning
C) legal document from a local authority that authorizes a construction or remodeling project
D) document that permits landowners to use land in a way that is typically not permitted by land use restrictions of zoning law

4. In Virginia, the grantor tax rate is currently $0.50 per $500 of the sales price. How much would the taxes be on a $756,000 home purchase?

A) $7,560
B) $15,120
C) $756
D) $1,512

5. The relationship between a property manager and the property owner is most comparable to that of a:

A) tenant with a landlord
B) cashier with the owner of a store
C) stockholder with the board of directors of a corporation
D) salesperson with their broker

Solutions: