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Virginia Test Questions with Solved Answers
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Virginia Test Questions with SolvedAnswers
In Virginia, which protected class would cover hoarding?
A)
Elderliness
B)
Age
C)
Familial status
D)
Handicap - -The answer is handicap. Of the eight protected classes in
Virginia's Fair Housing Act, handicap - physical, mental‒includes hoarding.
-The term Miss Utility commonly refers to
A)
the Virginia Underground Utility Act.
B)
the Virginia Utility Power Line Excavation Act.
C)
the Virginia Damage Prevention Act.
D)
the Virginia Underground Utility Damage Prevention Act. - -The answer is the
Virginia Underground Utility Damage Prevention Act. The term Miss Utility
commonly refers to this act.
-A broker's or firm's records of transactions must be retained
A)
for three years at the firm's or broker's place of business or five years offsite.
B)
for three years at the firm's or broker's place of business.
C)
for three years at the firm's or broker's place of business or five years online.
D)
for five years at the firm's or broker's place of business. - -The answer is for
three years at the firm's or broker's place of business. Both financial and
transaction records must be retained for this period.
-xxxx What is the time frame for a seller to provide a resale certificate
required under the terms of the sales contract?
,A)
No time frame for the delivery of the resale certificate by the seller
B)
10 days
C)
3 days
D)
14 days - -The answer is 14 days. The seller must deliver a resale certificate
(documentation) to the purchaser within 14 days of ordering it.
-Agent Ester is thinking of putting her own house on the market for sale. Will
she have to disclose that she's a licensee if another firm (not her own) lists
her house?
A)
If another firm lists her house for sale, she will not have to disclose her
licensee status.
B)
If Ester's firm lists her house for sale, she will have to disclose her licensee
status.
C)
Any method Ester uses to sell her home will require the disclosure of her
licensee status.
D)
If Ester just posts a FSBO sign in her front yard, she will have to disclose her
licensee status. - -The answer is any method Ester uses to sell her home will
require the disclosure of her licensee status. Failing to include a notice in all
advertising that the owner is a real estate licensee if the licensee owns or
has any ownership interest in the property advertised is a violation of the
REB regulations.
-xxxx Marcus showed his listing to an interested represented buyer. What
disclosure does Marcus need to make to the represented buyer?
A)
Marcus needs to make a disclosure of a possible conflict of interest.
B)
None is needed.
C)
Marcus needs to make a disclosure of brokerage relationship to the
represented buyer.
D)
Marcus should not show his listing to a buyer with an agent. - -The answer is
none is needed. Marcus has no obligation to make a disclosure to a buyer
who is represented by another agent.
,-Who is a customer?
A)
A customer is a person who has entered into a brokerage relationship with a
licensee.
B)
A customer is a person who has not entered into a brokerage relationship
with a licensee but whom the licensee has agreed to represent in a real
estate transaction involving the licensee's listing.
C)
A customer is a person who has entered into a brokerage relationship with a
licensee and signed a written agreement.
D)
A customer is a person who has not entered into a brokerage relationship
with a licensee. - -The answer is a customer is a person who has not entered
into a brokerage relationship with a licensee. If someone has entered into a
brokerage relationship agreement, that person is a client.
-Agent Jane's unlicensed assistant can perform all of the following EXCEPT
A)
show Jane's buyer clients property when Jane is sick.
B)
have keys made for lockbox use.
C)
prepare open house flyers and deliver them to the property.
D)
prepare a list of properties for Jane to show her new buyer client. - -The
answer is show Jane's buyer clients property when Jane is sick. Showing
property for Jane when she is sick is the one thing in this list her assistant
cannot do because it is a licensed activity.
-xxxx Jonah has showed his listing to a buyer who doesn't want
representation. However, he wants Jonah to write the offer for him. How can
Jonah do this?
A)
Jonah must be a dual agent first.
B)
Jonah must convince the buyer to sign a buyer's representation agreement
before he can write the offer.
C)
Jonah cannot write the offer because the buyer has refused representation.
D)
Jonah must first make a disclosure of brokerage relationship to the buyer and
explain that he can perform ministerial acts in assisting the buyer to prepare
, an offer to submit to his seller. - -The answer is Jonah must first make a
disclosure of brokerage relationship to the buyer and explain that he can
perform ministerial acts in assisting the buyer to prepare an offer to submit
to his seller. The buyer described here is a customer in a real estate
transaction and a party who is not represented by a licensee but to whom
certain duties prevail.
-The property John is listing is alleged to be "haunted." Should he disclose
this?
A)
No, it is not a material fact.
B)
Because some people believe in the supernatural, it might be wise to
disclose that the house is "haunted."
C)
A "haunted" house is considered a stigmatized property, and no disclosure
needs to be made.
D)
Yes, it is a material fact. - -The answer is a "haunted" house is considered a
stigmatized property, and no disclosure needs to be made. Unless the events
alleged or cited resulted in material defects to the integrity of the property,
the disclosure of a haunted presence is specifically forbidden.
-xxxx The term resource protection area (RPS) commonly refers to
A)
the National Environment Protection Act.
B)
the Restoration and Protective Services Act.
C)
the Environmental Protection Act.
D)
the Chesapeake Bay Act. - -The answer is the Chesapeake Bay Preservation
Act. The regulations establish the Resource Protection Area (RPA) as the
"shoreward" component of the Chesapeake Bay Preservation Area.
-All of the following are conflicts of interest EXCEPT
A)
Performing regulated activities as a standard agent, limited service agent, or
independent contractor for any client outside the licensee's brokerage firm(s)
or sole proprietorship(s)
B)
Being active with a real estate broker other than the licensee's principal
broker, without the written consent of the principal broker
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