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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:

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

2. Which of the following is TRUE?

A) Virginia does not enforce rent control.
B) Virginia does enforce rent control, but only for commercial properties.
C) Virginia does enforce rent control, but only in large cities.
D) Virginia enforces rent control state-wide.

3. Which of the following is correct about implied and express contracts?

A) Implied contracts can be legally binding, while express contracts cannot.
B) Express contracts can be legally binding, while implied contracts cannot.
C) Express contracts explicitly state the terms of the contract, while implied contracts are established by the parties' actions.
D) Implied contracts explicitly state the terms of the contract, while express contracts are established by the parties' actions.

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

A) undivided interest
B) sole proprietorship
C) unity of time
D) equitable interest

5. What do ostensible agency and agency by estoppel have in common?

A) They are both forms of third-party agency no longer recognized in the U.S.
B) They both arise when a third party correctly believes that agency exists between a principal and an agent.
C) They both concern a third party's decision to go unrepresented in a transaction.
D) They both arise when a third party is ted to mistakenly believe that agency exists between a principal and an agent.

Solutions: