Free Virginia Real Estate Practice Exam

Q1.A Virginia salesperson is interested in purchasing a property listed by her own brokerage. Under Virginia Real Estate Board regulations, what must she do before entering into the transaction?

• A.She must resign from the brokerage before making an offer to avoid any conflict of interest.
• B.She must disclose her licensed status and her interest in the transaction in writing to the seller.
• C.She must obtain written permission from the Virginia Real Estate Board before purchasing the property.
• D.She must have a separate, unaffiliated brokerage represent her in the transaction.

Q2.Which of the following is an example of a prohibited act under the Virginia Real Estate Board's regulations that could result in disciplinary action against a salesperson's license?

• A.Disclosing to a buyer that the seller has accepted another offer
• B.Failing to disclose to the principal broker that the salesperson has a personal financial interest in a property being purchased by a client
• C.Recommending that a seller obtain a pre-listing home inspection
• D.Negotiating a commission with a seller at the time of listing

Q3.When must a covered agreement be reviewed under A.R.S. § 32-2151.01(G)?

• A.Before any party signs.
• B.Within 24 hours.
• C.Within 10 business days after execution.
• D.Only at closing.

Q4.What is the licensee's personal liability for discriminatory conduct, even if the seller or broker instructed it?

• A.Personal liability for civil damages, civil penalties, attorney fees, ADRE discipline, and possible loss of license — instructions from a seller or broker are NEVER a defense
• B.None — agents follow principal instructions
• C.Only the seller is liable
• D.Only the broker is liable

Q5.Under RESPA (the Real Estate Settlement Procedures Act), which of the following practices is explicitly prohibited?

• A.A lender providing a Good Faith Estimate of closing costs to a borrower within three business days of a loan application.
• B.A title company paying a referring agent a $200 cash fee each time the agent sends a client to use their services.
• C.A broker charging a buyer a flat transaction coordination fee disclosed in the purchase agreement.
• D.A lender requiring the borrower to establish an escrow account for property taxes and insurance.

Q6.Under contract law, what is the primary purpose of a contingency clause in a real estate purchase agreement?

• A.To allow the seller to cancel the contract without penalty
• B.To make the contract legally binding on both parties
• C.To provide a condition that must be satisfied for the contract to remain in effect
• D.To establish the closing date for the transaction

Q7.A disaster plan lists phone numbers but does not assign decision authority. What is the most important improvement?

• A.Add more hazards without roles.
• B.Name incident roles, temporary authority, escalation paths, and backups.
• C.Remove vendor contacts.
• D.Require the designated broker to perform every technical task.

Q8.Which continuity-plan element most directly tests whether records can be recovered?

• A.Buying more storage.
• B.A scheduled restoration exercise with documented results.
• C.Keeping the plan confidential.
• D.Assuming the vendor tests it.

Q9.Which of the following is an essential element required for a real estate contract to be legally valid?

• A.Mutual consent (offer and acceptance)
• B.Notarization by a licensed notary public
• C.Approval by a real estate broker
• D.A minimum purchase price of $500

Q10.A residential mortgage lender sends a broker's office a weekly supply of branded notepads as a 'thank you' for loan referrals. The managing broker is aware of the arrangement. Under RESPA Section 8, which analysis is MOST accurate?

• A.The notepads likely constitute a prohibited kickback because they are a thing of value given in exchange for the referral of settlement service business, and the managing broker may share liability for knowingly permitting the arrangement.
• B.The notepads are permissible because marketing materials of nominal value are expressly exempted from RESPA's prohibition on kickbacks.
• C.The arrangement is lawful provided the broker discloses the receipt of the notepads on each transaction's Closing Disclosure.
• D.Only the lender is liable under RESPA Section 8; the broker who receives the items has no exposure.

Q11.A Virginia licensee is advertising a listed property on a personal social media page. Under the Real Estate Board's advertising rules, what must the advertisement include at a minimum?

• A.The licensee's name, the brokerage's name, and the full property address.
• B.The brokerage's name as it is registered with the Virginia Real Estate Board.
• C.The licensee's license number, the brokerage's name, and the listing price.
• D.Only the licensee's name, since social media is considered personal communication.

Q12.Under the Supreme Court's 2020 Bostock v. Clayton County decision as applied to housing, federal sex protections extend to:

• A.Sexual orientation and gender identity
• B.Only biological sex, not sexual orientation or gender identity
• C.Only gender identity, not sexual orientation
• D.Only state law covers LGBTQ+ housing discrimination

Q13.A broker is reviewing the employment agreements for the salespersons affiliated with her firm. Under general licensing principles applicable nationwide, which of the following statements BEST describes a broker's fundamental statutory obligation regarding the licensees working under her supervision?

• A.The broker is responsible for supervising the licensed activities of all affiliated salespersons and may be subject to disciplinary action for failing to adequately supervise their real estate activities.
• B.The broker's supervisory obligation extends only to salespersons who are classified as employees under IRS guidelines, not to independent contractors.
• C.Once a salesperson obtains a license, the broker's supervisory duty is discharged because the license itself demonstrates the salesperson's competence.
• D.Supervisory responsibility rests solely with the salesperson's designated team leader, relieving the managing broker of personal liability for the salesperson's conduct.

Q14.In Virginia, a licensed salesperson who wishes to independently negotiate real estate contracts and receive commissions directly from consumers — without sharing those funds through a supervising broker — must first:

• A.Obtain an independent contractor designation from the Virginia Real Estate Board.
• B.Complete 30 additional hours of post-license education and apply for an upgrade.
• C.Obtain a Virginia broker's license, which requires additional education, experience, and examination.
• D.Receive written permission from their current principal broker to operate independently.

Q15.A homeowner lists her home for sale and tells the listing salesperson, 'I only want to sell to a family without children.' If the salesperson proceeds to market the property exclusively to buyers without children, which federal law is most directly violated?

• A.The Real Estate Settlement Procedures Act (RESPA)
• B.The Equal Credit Opportunity Act (ECOA)
• C.The Fair Housing Act, specifically the familial status protected class
• D.The Truth-in-Lending Act (TILA)