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[General] Virginia-Real-Estate-Salesperson Practice Exams (Web-Based and Desktop) Software

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【General】 Virginia-Real-Estate-Salesperson Practice Exams (Web-Based and Desktop) Software

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Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q87-Q92):NEW QUESTION # 87
A licensee could be found liable for all of the following EXCEPT:
  • A. failure to disclose an unknown latent defect in an inaccessible location
  • B. failure to disclose a known latent defect to the buyer
  • C. attempting to conceal a known latent defect
  • D. failure to disclose a latent defect that the licensee should have reasonably known
Answer: A
Explanation:
A latent defect is a hidden defect not readily discoverable by ordinary inspection. Under Virginia law, licensees are responsible for:
Disclosing known latent defects (B, C).
Not concealing or misrepresenting property conditions.
Exercising reasonable care, meaning they may also be liable for defects they should have reasonably known (A).
However, a licensee cannot be held liable for failing to disclose a defect that is:
Unknown to them, and
In an inaccessible location (e.g., behind walls, underground).
Thus, the correct exception is (D).
Reference (Virginia Real Estate):
Code of Virginia § 55.1-703 (Property condition disclosures)
Virginia Real Estate Board Regulations 18 VAC 135-20-300 (Standards of Conduct) A490-02REGS.pdf - Disclosure requirements

NEW QUESTION # 88
What would make claims based on a contract unenforceable?
  • A. specific performance, rescission, and forfeiture
  • B. the statute of limitations and doctrine of laches
  • C. mutual assent, lawful objective, and reality of consent
  • D. assignment, mediation, and arbitration
Answer: B
Explanation:
Contract claims may become unenforceable not because they are invalid contracts, but because too much time has passed or a party has delayed action:
Statute of Limitations: Sets a maximum time period within which a lawsuit can be filed. Once expired, the claim is unenforceable.
Doctrine of Laches: An equitable defense where claims are barred if a party unreasonably delays enforcing their rights and that delay prejudices the other party.
Other options:
(A) Specific performance, rescission, and forfeiture are remedies, not reasons for unenforceability.
(C) Assignment, mediation, and arbitration are processes or dispute resolution methods.
(D) Mutual assent, lawful objective, and reality of consent are elements of a valid contract, not reasons for unenforceability.
Reference (Virginia Real Estate):
Code of Virginia § 8.01-243 (Statute of Limitations for contracts)
Virginia Real Estate Principles - Contracts & Enforcement sections
A490-02REGS.pdf - Contract law education content

NEW QUESTION # 89
A leasehold agreement where the base rent changes is called a:
  • A. lease-purchase agreement
  • B. variable lease
  • C. net lease
  • D. percentage lease
Answer: B
Explanation:
A variable lease (sometimes called an index lease) is a lease agreement in which the base rent changes during the lease term. Adjustments may occur based on:
Consumer Price Index (CPI)
Scheduled increases at certain intervals
Other options are incorrect:
Net Lease: Tenant pays base rent + some or all property expenses.
Percentage Lease: Rent is based partly on tenant's gross sales (common in retail).
Lease-Purchase Agreement: Tenant leases property with option or obligation to purchase.
Since the question specifies base rent changes, the correct term is variable lease.
Reference:
Virginia Real Estate Principles & Practices (Leasing section)
Real Estate Board Exam Content Outline: Contracts & Leases

NEW QUESTION # 90
John is a landlord. He has an applicant for an apartment who uses a cane. John tells her that she should go to the complex across the street, as they have more first-floor units available, and he doesn't want her to have to climb the stairs in his building. She thanks him for the tip. Evaluate.
  • A. John steered the applicant, but it was okay since she expressed appreciation.
  • B. John did nothing wrong. He simply evaluated the applicant and tried to do what was best for her.
  • C. John steered the applicant, which was a risky move, but it paid off this time.
  • D. John steered the applicant, which is never okay, even if she expressed appreciation.
Answer: D
Explanation:
Steering is the illegal practice of guiding prospective tenants or buyers to (or away from) certain properties based on protected characteristics (disability, race, religion, etc.).
John assumed the applicant's disability limited her housing choices and discouraged her from renting his unit.
Even if his intention was good and the applicant appreciated it, this constitutes disability discrimination under the Fair Housing Act.
Other options suggesting it was "okay" are incorrect because discrimination does not depend on intent or on whether the applicant objected.
Reference (Virginia Real Estate):
Federal Fair Housing Act, 42 U.S.C. §§ 3601-3619
Virginia Fair Housing Law, Code of Virginia Title 36, Ch. 5.1
A490-02REGS.pdf - Fair housing compliance

NEW QUESTION # 91
In Virginia, what is the difference between the REB and theFHB?
  • A. They are the same thing.
  • B. The FHB is responsible for the enforcement of the fair housing law for real estate licensees. The REB is responsible for all other violators.
  • C. The REB reports to HUD, while the FHB does not.
  • D. The REB is responsible for the enforcement of the fair housing law for real estate licensees. The FHB is responsible for all other violators.
Answer: D
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 # 92
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