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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. A leasehold agreement where the base rent changes is called a:

A) percentage lease
B) variable lease
C) lease-purchase agreement
D) net lease

2. Sellers and license holders are required to disclose lead- based paint hazards on all properties built before:

A) 1972
B) 1974
C) 1978
D) 1976

3. Contracts for the initial purchase of a cooperative interest may be rescinded without penalty how many days after either contract ratification or receipt of the POS?

A) 5 days
B) 10 days
C) 21 days
D) 14 days

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

5. In which of these cases should an agent disclose information about someone's HIV/AIDS status?

A) only when a buyer client insists on knowing this information
B) only if the seller has previously made their HIV or AIDS status public
C) only if the seller or tenant's status has caused the property to be stigmatized
D) Agents should never disclose or inquire about someone's HIV/AIDS status.

Solutions:

Question # 1 Answer: B

Question # 2 Answer: C

Question # 3 Answer: A

Question # 4 Answer: B

Question # 5 Answer: D