Pass Virginia-Real-Estate-Salesperson Exam Latest Practice Questions Updated on May 09, 2026 [Q63-Q86]

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Pass Virginia-Real-Estate-Salesperson Exam Latest Practice Questions Updated on May 09, 2026

Real Estate Licensing Virginia-Real-Estate-Salesperson Study Guide Archives

NO.63 What is a marketable title?

the official opinion of an attorney regarding the condition of a property’s title

an abbreviated history of a property, including information on any transfers, grants, wills, conveyances, liens, and encumbrances

a title free from significant encumbrances or defects (such as liens) that might prevent a purchaser from enjoying or eventually selling the property

constructive or actual notice of real property ownership

NO.64 How is a promissory note secured?

by the disbursement of funds

by referencing a security instrument

by the statute of frauds

by the attachment of a mortgage-backed security

NO.65 In Virginia, what is the difference between the REB and theFHB?

The FHB is responsible for the enforcement of the fair housing law for real estate licensees. The REB is responsible for all other violators.

The REB is responsible for the enforcement of the fair housing law for real estate licensees. The FHB is responsible for all other violators.

The REB reports to HUD, while the FHB does not.

They are the same thing.

NO.66 Four investors agree to co-ownership of an investment property. They have arranged the ownership structure so that if one of them dies, the decedent’s ownership stake passes to the remaining investors. What form of co-ownership do the investors have?

joint tenancy

sole ownership

community property

tenants in common

NO.67 Per se violations are:

acts that are NOT considered inherentty illegal

acts that are in violation of the TCPA

acts that are in violation of CAN-SPAM

acts that are considered inherently illegal

NO.68 Which of these ownership concepts gives each co-owner the right to possession of the whole property?

sole proprietorship

undivided interest

unity of time

equitable interest

NO.69 Harry, an agent, transfers some money from an escrow account into his personal savings accounts. What is he doing and is it legal or illegal?

This is commingling, and it is legal.

This is conversion, and it is illegal.

This is commingling, and it is illegal.

This is conversion, and it is legal.

NO.70 Siblings Meg and Jack own property together. Meg owns 60% and Jack owns 40%. If Meg dies, her share is inherited by her spouse, not Jack. Based on these facts, what kind of ownership do they have?

ownership in severalty

tenancy in common

tenancy by the entirety

joint tenancy

NO.71 In Virginia, agents practicing no agency (transaction coordinators) are sometimes referred to as:

single agents

intermediaries

dual agents

appraisers

NO.72 When must a lender provide borrowers with a Closing Disclosure?

at least five business days after consummation of the loan

at the end of the closing ceremony

on the day of closing

at least three business days before the consummation of the loan

NO.73 What is the purpose of the Do Not Call Registry?

It bans bait-and-switch ads.

It regulates telemarketing activities from commercial organizations.

It governs the use of commercial email advertising.

It has three main truth-in-advertising provisions.

NO.74 What deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor?

general warranty deed

special warranty deed

quitclaim deed

bargain and sale deed

NO.75 In Virginia, how many years do records need to be kept for?

three years

five years

two years

one year

NO.76 A building has an NOI of $130,000 and is being valued with a cap rate of 4%. Using the income approach, what is the value of the building?

$4,130,000

$2.450,000

$3.250,000

$1,300.000

NO.77 In order to protect the public interest, Virginia requires real estate professionals to get licenses. What kinds of licenses are offered?

sales agent, broker, and property manager

broker and assistant broker

residential and commercial

broker, salesperson, and firm

NO.78 What is a management proposal?

a plan a property manager creates for managing a property, including an analysis of the market, financial standing, and operating budget

a budget for variable expenses

a report prepared by the property manager that informs the property owner(s) of their property’s expenses, income, and disbursements

a subdivision plan that includes residential dwellings along with nonresidential real estate

NO.79 Marty, who is not a real estate agent, owns a duplex. He lives in one unit and rents out the other. He turns down afamily with small children as tenants because he doesn’t want to deal with noise. Evaluate the situation.

Marty has done nothing wrong. This housing situation is exempt from the Fair Housing Act.

Marty has violated the Fair Housing Act on grounds of parental status protections.

Marty has violated the Fair Housing Act on grounds of marital status protections.

Marty has violated the Fair Housing Act on grounds of familial status protections.

NO.80 Stigmatized properties are properties:

with suppressed market value due to their physical condition or features

that are exempt from ad valorem taxes

with market prices far exceeding other similar properties within an area

with suppressed market value due to something that happened on or to the property, rather than the physical condition or features of the property

NO.81 In Virginia, a supervising broker is:

a broker who has been designated by a principal broker to oversee the provision of real estate brokerage services by associate brokers and salespersons assigned to a branch office or a real estate team

the licensed broker of a firm who takes responsibility for the actions of the firm and licensees; there is only one in the firm

a broker who is NOT affiliated with the brokerage representing a principal in a real estate transaction

a broker who opts to work under another broker and has no agents assigned to them

NO.82 You’re doing a CMA on a three-bedroom, two-bath, seven- year-old property. Choose the BEST comp from the following list:

a six-bedroom, four-bath, newly built property located a quarter mile away that sold six weeks ago

a three-bedroom, two-bath, seven-year-old property located a quarter mile away that sold two years ago

a three-bedroom, two-and-a-half bath, 15-year-old property located 20 miles away that sold 12 weeks ago

a three-bedroom, one-bath, 12-year-old property located a quarter mile away that sold three months ago

NO.83 What does a lender use to discover all possible defendants in a foreclosure lawsuit?

a deficiency judgment

a lis pendens

a title search

an advertisement

NO.84 A deed in lieu of foreclosure is often referred to as a “friendly foreclosure” because:

This alternative to foreclosure is an option only available to friends or family of the lender.

This alternative to foreclosure requires the agreement and cooperation of both lender and borrower.

This alternative to foreclosure is handled by legal representatives known as “friends of the court.”

This alternative to foreclosure only takes place when the foreclosure sale buyer is a friend or family member.

NO.85 An licensee in Virginia writes an online ad. It MUST include all of the below:

the licensee’s name, the name of the firm in which the licensee is active, the city and state in which the licensee’s place of business is located, and the licensee’s phone number

the licensee’s name and the name of the firm in which the licensee is active

the licensee’s name, the name of the firm in which the licensee is active, and the city and state in which the licensee’s place of business is located

the licensee’s name, and the city and state in which the licensee’s place of business is located

NO.86 What is unique about an exclusive right-to-sell listing agreement?

There are multiple brokers working to sell the same property.

The broker acts as a general agent for the client in all business dealings.

The broker gets compensation regardless of who sells the property.

The broker represents both the seller and the buyer.