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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. In Virginia, a supervising broker is:

A) a broker who opts to work under another broker and has no agents assigned to them
B) 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
C) a broker who is NOT affiliated with the brokerage representing a principal in a real estate transaction
D) the licensed broker of a firm who takes responsibility for the actions of the firm and licensees; there is only one in the firm

2. The National Association of Realtors' Code of Ethics says
Realtors should act with:

A) All choices are correct.
B) competence
C) fairness
D) integrity

3. You're doing a CMA on a three-bedroom, two-bath, seven- year-old property. Choose the BEST comp from the following list:

A) a three-bedroom, two-and-a-half bath, 15-year-old property located 20 miles away that sold 12 weeks ago
B) a three-bedroom, two-bath, seven-year-old property located a quarter mile away that sold two years ago
C) a three-bedroom, one-bath, 12-year-old property located a quarter mile away that sold three months ago
D) a six-bedroom, four-bath, newly built property located a quarter mile away that sold six weeks ago

4. In Virginia, the grantor tax rate is currently $0.50 per $500 of the sales price. How much would the taxes be on a $756,000 home purchase?

A) $15,120
B) $1,512
C) $7,560
D) $756

5. What rights govern the use of flowing water, such as rivers or streams?

A) riparian rights
B) percolating rights
C) appropriative rights
D) littoral rights

Solutions: