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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Why does the state require real estate professionals to obtain a license?

A) to create revenue for the state
B) to ensure collaboration with other state agencies regulating real estate
C) to protect the public interest
D) to comply with federal occupational licensing law

2. 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

3. Which of the following provides the BEST explanation for why disclosure of material facts is required?

A) The material a property is made of can influence its value.
B) All facts related to a real estate transaction must be disclosed.
C) If known, they could cause a buyer or seller to take a different course of action.
D) Not all material facts are readily discernible.

4. The four phases of an environmental site assessment are, in order:

A) testing, investigation, remediation, management
B) investigation, testing, remediation, management
C) remediation, investigation, testing, management
D) management, investigation, testing, remediation

5. What is one way that a contract for deed differs from a standard real estate sales contract?

A) A contract for deed's purchase price section details the buyer's payment plan to the seller.
B) A contract for deed has the purchase price in it.
C) A contract for deed includes a financing clause.
D) A contract for deed includes a section about a flip tax.

Solutions: