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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Which of the following is a unique quality of limited service agents in Virginia?

A) Limited service agents can assist in neither residential nor commercial transactions.
B) Limited service agents can assist in residential transactions ONLY.
C) Limited service agents can assist in commercial transactions ONLY.
D) Limited service agents can assist in both residential and commercial transactions.

2. Trystan and Nia enter into a contract for the sale of a tiny house. Trystan is 17. Closing is supposed to occur in two weeks. This contract is:

A) executory and voidable
B) executory and void
C) executed and voidable
D) executed and void

3. Bobby took out a commercial mortgage to pay for his new podcast studio. It is an interest-only loan of $800,000 with an interest rate of 4.5%. How much will Bobby pay in interest over the year?

A) $45,000
B) $3,500
C) $10,500
D) $36.000

4. According to the Virginia Residential Landlord Tenant Act (VRLTA) what is the maximum amount a landlord may keep as a security deposit?

A) one month's rent
B) six months' rent
C) two months' rent
D) $2,000

5. Sellers and license holders are required to disclose lead- based paint hazards on all properties built before:

A) 1974
B) 1972
C) 1976
D) 1978

Solutions: