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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 May. 21, 2026 (see below)
A legally competent party to a contract will:
For a contract to be legally enforceable, all parties must be legally competent. This requires:
Age of majority (18 in Virginia).
Mental competency (not declared mentally incompetent).
Not under the influence of drugs or alcohol at the time of signing.
Other options:
(B) & (D) Literacy is not required for legal competency.
(C) Legal representation is not required for a valid contract.
Reference (Virginia Real Estate):
Code of Virginia Title 11 -- Contracts
Virginia Real Estate Principles -- Elements of valid contracts
A490-02REGS.pdf -- Contracts curriculum
In addition to evaluating borrower creditworthiness, to complete the loan approval process, the underwriter needs to evaluate the:
Loan underwriting evaluates two things:
Borrower's creditworthiness (income, debt, credit score).
The property's value and suitability (via appraisal, condition, and title review).
The lender needs to ensure that the property provides sufficient collateral in case of default.
Other options:
(A) Tender -- unrelated.
(C) Broker -- not evaluated.
(D) Seller -- irrelevant to loan approval.
Fannie Mae Selling Guide -- Loan Underwriting
Virginia Real Estate Finance Principles -- Loan Process
A deed in lieu of foreclosure is often referred to as a "friendly foreclosure" because:
A deed in lieu of foreclosure is when a borrower voluntarily conveys the property title back to the lender to avoid foreclosure.
It is called a ''friendly foreclosure'' because it requires mutual consent between borrower and lender, avoiding the formal court-ordered process.
Other options:
(A) Wrong -- not limited to friends/family.
(C) Wrong -- not related to ''friends of the court.''
(D) Wrong -- buyer's relationship irrelevant.
Virginia Real Estate Principles & Practices -- Foreclosure Alternatives
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 contract is executory when its terms have not yet been fully performed (here, closing has not yet occurred).
Because Trystan is 17 years old, he is a minor under Virginia law (legal capacity begins at 18). A minor's contract is generally voidable at the option of the minor, but enforceable against the adult party.
Therefore, this contract is executory (not yet performed) and voidable (due to Trystan's age).
Code of Virginia 1-204 (Age of majority = 18)
Virginia Real Estate Board Exam Outline -- Contracts (capacity, validity, executory vs executed)
All of the following are examples of legal descriptions of property EXCEPT:
Legal descriptions must be precise and unique so land can be located without confusion.
Accepted forms:
Metes and bounds
Rectangular (government) survey (e.g., ''SW 1/4 of NW 1/4...'')
Lot and block (e.g., subdivision plats)
A street address (Option B) is not a legal description---too general and can change.
Virginia Real Estate Principles & Practices -- Legal Descriptions
Virginia Exam Outline -- Land and Property Descriptions
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