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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Which of the following discussions is a violation of antitrust laws and is also an anti-competitive practice?

A) brokers agreeing to not show a certain broker's listings to their clients because they don't like that broker
B) two brokers discussing how to cooperate more effectively in a specific real estate transaction
C) two brokers discussing new laws enacted in their county
D) brokers commenting on the siding color on a newly listed home in their area

2. Why does the state require real estate professionals to obtain a license?

A) to comply with federal occupational licensing law
B) to ensure collaboration with other state agencies regulating real estate
C) to protect the public interest
D) to create revenue for the state

3. Marty, who is not a real estate agent, owns a duplex. He lives in one unit and rents out the other. He turns down a\family with small children as tenants because he doesn't want to deal with noise. Evaluate the situation.

A) Marty has violated the Fair Housing Act on grounds of marital status protections.
B) Marty has violated the Fair Housing Act on grounds of parental status protections.
C) Marty has violated the Fair Housing Act on grounds of familial status protections.
D) Marty has done nothing wrong. This housing situation is exempt from the Fair Housing Act.

4. Disclosure is an important part of a brokerage's duties and responsibilities. Which of the following is NOT an important disclosure all brokerages should make?

A) disclosure of agency
B) disclosure of financial condition
C) disclosure of an area's demographics of race and ethnicity
D) disclosure of all offers

5. What is one way that a contract for deed differs from a standard real estate sales contract?

A) A contract for deed's purchase price section details the buyer's payment plan to the seller.
B) A contract for deed includes a financing clause.
C) A contract for deed has the purchase price in it.
D) A contract for deed includes a section about a flip tax.

Solutions: