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[Hardware] Virginia-Real-Estate-Salesperson Real Brain Dumps | Virginia-Real-Estate-Salespe

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【Hardware】 Virginia-Real-Estate-Salesperson Real Brain Dumps | Virginia-Real-Estate-Salespe

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Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q103-Q108):NEW QUESTION # 103
An agreement that gives only one broker and the owner the right to sell the property is called a(n):
  • A. open listing
  • B. exclusive agency listing
  • C. exclusive right-to-sell listing
  • D. net listing
Answer: C
Explanation:
Exclusive right-to-sell listing = only one broker has the right to sell, and they earn commission regardless of who brings the buyer (broker, owner, or another agent).
Other options:
(A) Exclusive agency listing - owner may sell without paying broker.
(B) Open listing - multiple brokers, only procuring cause earns commission.
(D) Net listing - illegal in Virginia; seller sets net amount, broker keeps excess.
Reference:
Code of Virginia §54.1-2137 (Brokerage agreements)
Virginia Real Estate Principles & Practices - Listing Agreements

NEW QUESTION # 104
An licensee in Virginia writes an online ad. It MUST include all of the below:
  • A. 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
  • B. 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
  • C. the licensee's name and the name of the firm in which the licensee is active
  • D. the licensee's name, and the city and state in which the licensee's place of business is located
Answer: C
Explanation:
According to Virginia Real Estate Board advertising regulations (18 VAC 135-20-190):
All advertising must clearly include the licensee's name and the name of the firm with which the licensee is active.
For online advertising, the firm name must be "conspicuous, legible, and readily identifiable." The city/state of business or the licensee's phone number is not required by law in every ad.
Therefore, the minimum requirement for compliance is licensee's name and firm name.
Reference (Virginia Real Estate):
Virginia Administrative Code 18 VAC 135-20-190 (Advertising by licensees) Code of Virginia Title 54.1, Chapter 21

NEW QUESTION # 105
In Virginia, what is the difference between the REB and theFHB?
  • A. The FHB is responsible for the enforcement of the fair housing law for real estate licensees. The REB is responsible for all other violators.
  • B. The REB reports to HUD, while the FHB does not.
  • C. The REB is responsible for the enforcement of the fair housing law for real estate licensees. The FHB is responsible for all other violators.
  • D. They are the same thing.
Answer: C
Explanation:
In Virginia, two separate bodies manage different aspects of housing regulation and enforcement:
Real Estate Board (REB):
The REB, operating under the Virginia Department of Professional and Occupational Regulation (DPOR), is responsible for regulating and enforcing real estate laws and regulations related to licensed real estate professionals. This includes education, licensure, conduct, disciplinary action, and fair housing compliance specifically for licensees (e.g., salespersons and brokers).
Authority Source: Title 54.1, Chapter 21 of the Code of Virginia.
Regulatory oversight: Violations of fair housing law by real estate licensees (salespersons or brokers) are investigated and enforced by the REB.
Fair Housing Board (FHB):
The FHB, also under DPOR but functioning independently from the REB, is tasked with enforcing Virginia's Fair Housing Law (outside of licensee jurisdiction). This includes addressing violations by:
Unlicensed individuals
Property owners
Landlords and property managers who are not licensed real estate professionals Other entities not subject to REB regulation This clear division ensures that real estate licensees are held accountable by the REB, while the FHB addresses violations by those not regulated through licensure.
Reference (without URLs):
Virginia Code § 54.1-2105 (Regulation and enforcement powers of the Real Estate Board) Virginia Fair Housing Law: Title 36, Chapter 5.1 of the Code of Virginia Real Estate Regulations (18 VAC 135-20-10 et seq.) DPOR Guidance and Organizational Structure (as outlined in the A490-02REGS.pdf document)

NEW QUESTION # 106
One township contains how many sections?
  • A. 0
  • B. 1
  • C. 2
  • D. 3
Answer: C
Explanation:
U. S. Public Land Survey System (PLSS)
Virginia Real Estate Principles - Land descriptions section
A490-02REGS.pdf - Legal descriptions curriculum
Explanation:
Under the Rectangular (Government) Survey System:
A township = 6 miles × 6 miles = 36 square miles.
Each township is divided into 36 sections.
Each section = 1 mile × 1 mile = 640 acres.
Reference (Virginia Real Estate):

NEW QUESTION # 107
If a condo owner is selling their unit, which of these documents should they present to a buyer?
  • A. HUD-1
  • B. Closing Disclosure
  • C. Loan Estimate
  • D. resale certificate
Answer: D
Explanation:
When selling a condominium unit in Virginia, the seller must provide the buyer with a resale certificate (sometimes called a condominium disclosure package). It includes:
HOA/condo association bylaws, rules, and restrictions.
Financial information (dues, assessments, reserves).
Pending litigation or special assessments.
This disclosure ensures the buyer is informed about condo ownership obligations before closing.
Other documents:
(B) Loan Estimate - given by lender to borrower, not seller.
(C) Closing Disclosure - lender provides to borrower before settlement.
(D) HUD-1 - replaced by the Closing Disclosure in most residential transactions (except reverse mortgages).
Reference (Virginia Real Estate):
Virginia Condominium Act, Code of Virginia § 55.1-1991
A490-02REGS.pdf - Common Interest Communities & Disclosure curriculum

NEW QUESTION # 108
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