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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 Oct. 23, 2026 (see below)
A licensee could be found liable for all of the following EXCEPT:
A latent defect is a hidden defect not readily discoverable by ordinary inspection. Under Virginia law, licensees are responsible for:
Disclosing known latent defects (B, C).
Not concealing or misrepresenting property conditions.
Exercising reasonable care, meaning they may also be liable for defects they should have reasonably known (A).
However, a licensee cannot be held liable for failing to disclose a defect that is:
Unknown to them, and
In an inaccessible location (e.g., behind walls, underground).
Thus, the correct exception is (D).
Reference (Virginia Real Estate):
Code of Virginia 55.1-703 (Property condition disclosures)
Virginia Real Estate Board Regulations 18 VAC 135-20-300 (Standards of Conduct)
A490-02REGS.pdf -- Disclosure requirements
Arnav is interested in a residential property because he loves the antique light fixtures installed in every room. Corey is the license holder helping Arnav find a property. Which of the following is MOST TRUE about Corey's situation?
Fixtures are items attached to the property and usually transfer with the real estate. Light fixtures are typically considered fixtures, not personal property.
However, disputes can arise if sellers intend to take them.
To avoid ambiguity, the agent should specify in writing in the contract whether fixtures convey.
Other options:
(A) Verbal agreements are unenforceable under the Statute of Frauds.
(B) While fixtures usually convey, assumptions create disputes.
(C) Mentioning it to a broker is insufficient---needs to be in writing in the purchase agreement.
Reference (Virginia Real Estate):
Code of Virginia 11-2 (Statute of Frauds)
Virginia Real Estate Principles -- Fixtures vs. Personal Property
A490-02REGS.pdf -- Contracts & property section
Marty, who is not a real estate agent, owns a duplex. He lives in one unit and rents out the other. He turns down a\family with small children as tenants because he doesn't want to deal with noise. Evaluate the situation.
The Fair Housing Act protects against housing discrimination based on:
Race, color, religion, sex, national origin, familial status, and disability.
Familial status = protection for households with children under 18, pregnant women, or legal guardians of children.
Marty's refusal to rent to a family with small children violates familial status protections.
Exemption note (owner-occupied duplex rule): While the Fair Housing Act has a limited exemption for small owner-occupied dwellings ('Mrs. Murphy exemption'), Virginia Fair Housing Law does not allow discrimination based on familial status even in this situation.
Thus, the correct answer is familial status discrimination.
Federal Fair Housing Act, 42 U.S.C. 3601 et seq.
Virginia Fair Housing Law, Code of Virginia Title 36, Chapter 5.1
What are mortgage-backed securities?
Mortgage-Backed Securities (MBS) are investment instruments created when lenders bundle groups of mortgages and sell them to investors. These securities are backed by the cash flow from the underlying mortgage loans.
Investors receive interest and principal payments derived from homeowners' mortgage payments.
MBS are often issued by government-sponsored entities like Fannie Mae, Freddie Mac, or Ginnie Mae.
They help provide liquidity in the mortgage market by allowing lenders to free up funds to make more loans.
Reference (Virginia Real Estate & Finance):
Virginia Principles of Real Estate textbook discussions on financing and secondary mortgage market
Real Estate Settlement education material in A490-02REGS.pdf (Mortgage Finance section)
The relationship between a property manager and the property owner is most comparable to that of a:
A property manager acts as an agent for the property owner.
The manager owes fiduciary duties to the owner, similar to how a salesperson works under and owes duties to their broker.
Other comparisons:
(A) Tenant/landlord = contractual lease, not fiduciary.
(B) Stockholder/board = ownership vs governance, not agency.
(D) Cashier/store owner = employee/employer, not fiduciary agent.
Code of Virginia 54.1-2100 (definitions of brokerage relationships, property management included)
Virginia Real Estate Board Regulations (agency and fiduciary duties)
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