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Below are free Virginia broker real estate practice exam questions that will closely resemble your licensing exam. Review these questions and see what you know! The answers are provided beneath the question set.
1. Trevon’s landlord Lucia is pretty good, but she isn’t doing one thing that must be done. For which of these infractions can Trevon take action or seek restitution, according to the Virginia Residential Landlord and Tenant Act?
- Lucia doesn’t allow for rent payments to be made between the first and 15th of the month—she says rent is due the fifth.
- Lucia doesn’t maintain the cleanliness of Trevon’s rental unit.
- Lucia hasn’t fixed the electric panels in Trevon’s building, which are definitely not up to code.
- Lucia hasn’t landscaped the apartment building’s common areas.
2. Which of the following statements is true regarding HOA/POA disclosure laws?
- HOA/POAs are not allowed to charge fees for delivering their disclosure packets electronically
- HOAs/POAs are responsible to assemble their disclosure packets and deliver it when they receive a written request.
- Seller agents are responsible for making sure that disclosure packets are delivered to buyers within three days of their request.
- Sellers are required to assemble a packet of information about their HOA/POA and provide it to potential buyers upon request.
3. The Virginia Condominium Act is concerned that condo owners and potential buyers have the information they need to make informed decisions. To that end, which of the following does this act regulate?
- That all condo developments adopt the same CC&Rs
- That all owners associations allow everyone in the development to run for board member positions
- That the legal definition of a condominium is posted in all development common areas
- The information that must be included in public offering statements
4. Which of the following is true about the Chesapeake Bay Preservation Act and its effects?
- "Anyone who is selling property in the area that’s affected by this act must provide additional disclosures to potential buyers.
- The act protects the Chesapeake Bay waterways, so houses in this area require extra disclosure forms for any sales transactions.
- The act restricts growth along the Chesapeake Bay waterway, so owners with properties affected by the act can’t build on to them.
- Those who want to buy a property in an area affected by this act should work to find out how the additional restrictions affect the property.
5. Which one of the following brokers is providing adequate supervision and training for their new licensees?
- Anita follows her licensee every day to ensure there are no mishaps or violations of regulations.
- Brannon reviews and discusses licensees’ work to make sure it meets regulations, and provides training opportunities to all associates.
- Deshi only allows associates to perform real estate activities inside the brokerage itself.
- Pamela holds quarterly meetings that discuss performance objectives of the licensee based on the number of sales transactions completed.
6. Which of these is a rule that governs how escrow money can be disbursed?
- Brokers can disburse escrow money at the conclusion of the transaction to settle the agreement between the parties.
- Brokers can disburse escrow money in a different way than the contract indicates.
- If the contract doesn’t give any instructions about the escrow account, the money always goes back to the client who paid it.
- Licensees must open an escrow account on the same day that they receive escrow money.
7. " Which of the following pieces of information does Linda, a Virginia real estate salesperson who works for Big Valley Realty, NOT have to include on her business cards?"
- “Associated with Big Valley Realty”
- Big Valley Realty’s phone number
- Her work phone number
- The name and number of her sponsoring broker
8. The Virginia Fair Housing Office’s list of protected classes includes these groups in addition to the federally protected classes.
- Elderliness, sexual orientation, and military status
- Gender identity, elderliness, and smokers
- Income status, veteran status, and gender identity
- Source of funds, students, and sexual orientation
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