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Virginia Real Estate License Exam Latest Update Actual Exam 260 Questions and 100% Verified Correct Answers Verified by Professor
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Virginia Real Estate License Exam Latest Update Actual Exam 260 Questions and 100% Verified Correct Answers Verified by Professor

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  • August 29, 2024
  • 74
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • virginia real estate license exam latest update 20

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  • Virginia Real Estate License
  • Virginia Real Estate License

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Virginia Real Estate License Exam Latest Update
2024-2025 Actual Exam 260 Questions and 100%
Verified Correct Answers Verified by Professor

A developer constructing a new condominium must submit a ____________ to the
Common Interest Community Board.


a. Declaration
b. Financial report
c. Position statement
d. Substantiation - CORRECT ANSWER: a. Declaration


A person performing real estate activities under the judgment or order of a Virginia
court, such as a trustee in a bankruptcy, is ______.


a. Not required to have a real estate license
b. Required to have a broker's license
c. Required to have at least a sales agent license
d. Required to have taken all pre-licensing courses, but passing the exam is not
required - CORRECT ANSWER: a. Not required to have a real estate license


A small condominium building has five units. Two of the units are for sale. The
remaining units are owned by Rory, Dawn, and John, respectively. As a group, they
decide they'd like to change the status of the building from condominium and instead
make it an income-producing apartment complex that they will manage, after
purchasing the two units that are for sale. How can they change the status of the
condominium?


a. Alter the original declaration to change the status of the property to an apartment
building.

,b. Complete a Request for Condominium Status Termination form, have all members
sign it,
and send it to the Common Community Interest Board for approval.
c. Create and sign, as a majority of the owners, a termination agreement.
d. Since there are no dissenting unit owners, Rory, Dawn, and John can treat the
property as
they like. They do not need to change the condominium status to go forward with their
plan. - CORRECT ANSWER: c. Create and sign, as a majority of the owners, a
termination agreement.


A timeshare owner has decided to sell her share, and has found a buyer. What does
she need to provide to the buyer?


a. A Certificate of Resale
b. A Disclosure of Timeshare Resale
c. A Resale Offering Statement
d. Nothing - CORRECT ANSWER: a. A Certificate of Resale


A Virginia resident has worked with the Virginia Housing Development Authority on their
first home purchase. The purchase is being secured by a deed of trust. Who are the
parties involved?


a. Trustee and beneficiary
b. Trustee and trustor
c. Trustee, trustor, beneficiary
d. Trustor and beneficiary - CORRECT ANSWER: c. Trustee, trustor, beneficiary


According to the disclosure statement, what is a seller's disclosure obligation if a sex
offender lives near their property?


a. The seller is required to disclose this information.

,b. The seller makes no representations.
c. The seller must obtain permission from any local sex offenders to release their
information
to buyers.
d. The seller must provide pictures, names and addresses of all sex offenders within a
five mile
radius. - CORRECT ANSWER: b. The seller makes no representations.


According to the disclosure statement, what is a seller's disclosure requirement if they
know that the parcel of land behind their property is being rezoned for commercial
development?


a. The seller is required to disclose this information.
b. The seller makes no representations.
c. The seller must provide the buyer with a zoning map.
d. This condition is not material to the property and need not be disclosed. - CORRECT
ANSWER: b. The seller makes no representations.


According to the Virginia Residential Landlord and Tenant Act, which of these
is a tenant's basic duty?


a. Maintain the property in a good, clean, and safe condition.
b. Make certain repairs to the property.
c. Pay rent on the last day of the month.
d. They may not disturb other tenants, affecting their quiet enjoyment. - CORRECT
ANSWER: a. Maintain the property in a good, clean, and safe condition


According to the VRLTA, a copy of the written rental agreement must be provided to the
tenant within ______________ of the agreement's effective date.


a. One month

, b. One week
c. Three days
d. Two weeks - CORRECT ANSWER: a. One month


After an investigation by the DPOR, what comes next in the complaint process?


a. A hearing is held.
b. A meeting is held between the parties involved to determine the facts of the matter.
c. Interviews with witnesses and statements are obtained.
d. The fee or penalty is assessed. - CORRECT ANSWER: b. A meeting is held between
the parties involved to determine the facts of the matter.


After looking up his property on an official zoning map, Nathan sees that the house he's
trying to sell is in a military noise zone of more than 65 average decibels. "It's never
noisy here at all, though!" he tells his agent, Jamal. "I'm outside all the time and can
only just barely hear the planes! Would it be okay if I didn't fill out this disclosure?" What
should Jamal say?


a. "If the noise really isn't troublesome, then you don't have to disclose it."
b. "Remember that Virginia is a caveat emptor state. You don't have to disclose this."
c. "You do have to disclose this because the buyer can find out this information pretty
easily."
d. "You must disclose this because otherwise, the buyer can take legal action against
you." - CORRECT ANSWER: d. "You must disclose this because otherwise, the buyer
can take legal action against you."


Agent Toby represents his seller clients, Mr. and Mrs. Poole. Which of these actions
would violate one of the statutory duties he owes them?


a. Toby advises them to list their house at a price that's a little lower than the Pooles first
suggest.

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