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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Who regulates fair housing advertising?

A) CRA
B) HMDA
C) ECOA
D) HUD

2. The creation of express agency is best handled via a(n):

A) listing agreement or buyer representation agreement
B) oral agreement or ratified actions
C) listing agreement or ratified actions
D) oral agreement or buyer representation agreement

3. The duty of obedience does not include requests or instructions that are:

A) unnecessary
B) not put in writing
C) ethical and legal but not advisable
D) illegal or unethical in any way

4. Peter and Ned co-own a type of real estate business together. This business is legally treated the same as a single person, meaning it is technically ownership in severalty. Peter and Ned are also not liable for the organization's debt. What type of business do Peter and Ned own?

A) general partnership
B) corporation
C) limited partnership
D) sole proprietorship

5. What deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor?

A) special warranty deed
B) general warranty deed
C) bargain and sale deed
D) quitclaim deed

Solutions: