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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Syllabus Topics:

Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Which of these is a person who is licensed to represent one of the parties in a real estate transaction in exchange for a commission or other valuable consideration?

A) appraiser
B) salesperson
C) broker
D) assistant broker

2. Disclosure is an important part of a brokerage's duties and responsibilities. Which of the following is NOT an important disclosure all brokerages should make?

A) disclosure of financial condition
B) disclosure of all offers
C) disclosure of agency
D) disclosure of an area's demographics of race and ethnicity

3. Vicarious liability is the common law concept that:

A) brokers are free from taking responsibility for their agents' actions
B) a person is liable for the actions of those acting with authority on that individual's behalf
C) agents cannot be held liable for violating fiduciary duties, while brokers can
D) license holders may ONLY be held liable if violations are brought to court

4. When an individual hails a cab and tells the driver where they want to be taken, that passenger has entered into what kind of contract?

A) written
B) unilateral
C) express
D) implied

5. What is unique about an exclusive right-to-sell listing agreement?

A) The broker acts as a general agent for the client in all business dealings.
B) The broker represents both the seller and the buyer.
C) The broker gets compensation regardless of who sells the property.
D) There are multiple brokers working to sell the same property.

Solutions: