Free Preparation Discussions
MENU
Real Estate Licensing Virginia Real Estate Salesperson Exam Questions
- Topic 1: Property Ownership: This section of the exam measures the skills of a Salesperson and covers the understanding of property types, legal descriptions, encumbrances, and different forms of ownership. Candidates are expected to recognize how liens, easements, and rights affect property use and value, as well as how ownership can be structured individually, jointly, or through entities.
- Topic 2: Land Use Controls: This section of the exam measures the skills of a Broker and covers government and private restrictions on land use. It includes zoning rules, property taxes, eminent domain, and deed restrictions, all of which impact how property may be developed or used within the state.
- Topic 3: Valuation: This section of the exam measures the skills of a Salesperson and covers methods used to estimate property value. Candidates are tested on appraisals, the sales comparison approach, the cost approach, income analysis, and the ability to prepare comparative market analyses to guide buyers and sellers.
- Topic 4: Financing: This section of the exam measures the skills of a Broker and covers the principles of real estate lending. It addresses loan types, mortgage terms, government-backed loans, financing laws, and the lending process from application to closing.
- Topic 5: Contracts: This section of the exam measures the skills of a Salesperson and covers general contract law and agreements related to real estate transactions. It includes valid contract elements, enforceability, purchase and lease agreements, contingencies, amendments, and the proper handling of multiple offers.
- Topic 6: Agency: This section of the exam measures the skills of a Broker and covers the formation of agency relationships, types of representation agreements, fiduciary duties, and disclosure requirements. Candidates must demonstrate understanding of agency termination, conflicts of interest, and responsibilities toward clients and customers.
- Topic 7: Property Disclosures: This section of the exam measures the skills of a Salesperson and covers disclosure responsibilities regarding property condition, environmental issues, and material facts. It emphasizes compliance with state and federal rules to ensure buyers and tenants receive accurate information about the property.
- Topic 8: Property Management: This section of the exam measures the skills of a Broker and covers the duties of property managers in tenant selection, fair housing compliance, lease agreements, financial handling, maintenance oversight, and the responsibilities defined in property management contracts.
- Topic 9: Transfer of Title: This section of the exam measures the skills of a Salesperson and covers the transfer of real estate ownership. It reviews deed types, title insurance, closing procedures, settlement practices, and special cases such as foreclosures, probate, and short sales.
- Topic 10: Practice of Real Estate: This section of the exam measures skills of a Broker and covers professional duties, antidiscrimination laws, advertising rules, antitrust regulations, confidentiality, and supervisory responsibilities. It also includes the correct handling of client funds and adherence to ethical standards.
Free Real Estate Licensing Virginia Real Estate Salesperson Exam Actual Questions
Note: Premium Questions for Virginia Real Estate Salesperson were last updated On Sep. 04, 2025 (see below)
Your client is buying a home. At closing, they pull you aside and whisper that the documents they're being asked to sign don't match the Closing Disclosure - suddenly, there are thousands of dollars of new fees. Is this a red flag for predatory lending? Why or why not?
Under the TRID Rule (TILA-RESPA Integrated Disclosure), lenders must provide borrowers with a Closing Disclosure (CD) at least 3 business days before closing.
The numbers on the CD and closing documents must match (with very limited tolerance ranges).
Significant last-minute fee increases are a red flag for predatory lending or RESPA/TILA violations.
The client should not sign until discrepancies are resolved.
Reference (Virginia Real Estate & Federal Law):
TRID (12 CFR 1026.19(f))
Virginia Real Estate Principles -- Financing and Settlement section
A490-02REGS.pdf -- Loan closing requirements
A partially amortizing loan will include:
A partially amortizing loan requires regular monthly payments covering interest and some principal, but the loan is not fully paid off at the end of the term.
At maturity, a balloon payment (lump sum of the remaining balance) is due.
Other options:
(B) Non-refinancing clause -- not a defining feature.
(C) Multiple lenders -- irrelevant.
(D) Equal monthly payments until fully paid -- that describes a fully amortizing loan, not partial.
Virginia Real Estate Finance Principles -- Loan types
National exam content outline (Amortization & balloon loans)
A leasehold agreement where the base rent changes is called a:
A variable lease (sometimes called an index lease) is a lease agreement in which the base rent changes during the lease term. Adjustments may occur based on:
Consumer Price Index (CPI)
Scheduled increases at certain intervals
Other options are incorrect:
Net Lease: Tenant pays base rent + some or all property expenses.
Percentage Lease: Rent is based partly on tenant's gross sales (common in retail).
Lease-Purchase Agreement: Tenant leases property with option or obligation to purchase.
Since the question specifies base rent changes, the correct term is variable lease.
Virginia Real Estate Principles & Practices (Leasing section)
Real Estate Board Exam Content Outline: Contracts & Leases
Janay lives in and is licensed as a salesperson in North Carolina but wants to practice real estate in Virginia. Which of the following is true?
Virginia has reciprocity agreements with several states, including North Carolina.
If Janay is already licensed in NC, she only needs to:
Apply to the Virginia Real Estate Board.
Provide certification of her NC license in good standing.
Pass the Virginia state portion of the licensing exam.
She does not need to retake pre-licensure education, and residency in Virginia is not required.
Reference (Virginia Real Estate):
Virginia Code 54.1-2105.2 (Reciprocity for out-of-state licensees)
Real Estate Board Reciprocity Rules (DPOR guidance)
A490-02REGS.pdf -- Licensing requirements
Clarence owns three rental homes he doesn't have time to oversee himself. He decides to hire George to take care of his rental units in the hopes of maximizing the return on his investment. What role is George filling?
A property manager is hired by an owner to manage rental property, maintain operations, and maximize return on investment.
Other options:
(A) Sponsoring broker -- oversees real estate salespersons, not rentals.
(B) Appraisal manager -- not a real estate role.
(C) Broker's agent -- represents broker in brokerage activities, not property management.
Code of Virginia 54.1-2100 (definition includes property management as brokerage services)
Virginia Real Estate Principles & Practices -- Property Management
- Select Question Types you want
- Set your Desired Pass Percentage
- Allocate Time (Hours : Minutes)
- Create Multiple Practice tests with Limited Questions
- Customer Support
Becky
7 hours agoMariko
7 hours ago