Free West Virginia Real Estate Practice Exam

Q1.In West Virginia, how long does a complainant have to file a housing discrimination complaint with the Human Rights Commission?

• A.180 days
• B.365 days
• C.Two years
• D.Three years

Q2.In West Virginia, when a broker reviews a purchase contract prepared by a supervised salesperson, the broker discovers an error in the legal description. What action should the broker take?

• A.Sign the contract and correct the error at closing
• B.Have the salesperson prepare an addendum to correct the error
• C.Refuse to allow the salesperson to handle any future contracts
• D.Ensure the error is corrected before the contract is executed

Q3.In a metes and bounds legal description, what does the term 'monument' refer to?

• A.A memorial or commemorative structure on the property
• B.A fixed reference point used to establish property boundaries
• C.The highest elevation point on the property
• D.A government survey marker placed by federal authorities

Q4.A West Virginia broker terminates a listing agreement before its expiration date without the seller's consent. This action is:

• A.Always prohibited and subject to disciplinary action
• B.Permitted if the broker provides 30 days notice
• C.Permitted only with just cause as defined by Commission rules
• D.Permitted if the broker refunds any advance fees

Q5.A borrower's Closing Disclosure shows the APR has increased by 0.25% from what was disclosed on the Loan Estimate. What action must the lender take under TRID?

• A.Proceed with closing as the change is within acceptable limits
• B.Provide a new Loan Estimate within one business day
• C.Provide a corrected Closing Disclosure and wait an additional three business days before closing
• D.Cancel the loan application

Q6.A West Virginia salesperson wants to advertise a property listing. The advertisement must:

• A.Include the property's exact address
• B.State the listing price
• C.Include the broker's name or trade name
• D.List the salesperson's license number

Q7.Which document under TRID must be provided to borrowers at least 3 business days before loan closing?

• A.Good Faith Estimate
• B.Loan Estimate
• C.Closing Disclosure
• D.HUD-1 Settlement Statement

Q8.A West Virginia property manager must provide an itemized list of security deposit deductions within what time frame?

• A.At the time of deduction
• B.Within 30 days of lease termination
• C.Within 45 days of lease termination
• D.Within 60 days of lease termination

Q9.In West Virginia, what happens to a listing agreement when the listing broker dies?

• A.The agreement automatically transfers to another broker in the same firm
• B.The agreement continues with the deceased broker's estate
• C.The agreement is automatically terminated
• D.The agreement transfers to the West Virginia Real Estate Commission

Q10.Under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), which party is typically considered a Potentially Responsible Party (PRP) for environmental cleanup costs?

• A.Current property owner only
• B.Previous owners, current owners, transporters, and generators of hazardous substances
• C.Only the party that originally contaminated the property
• D.Government agencies that approved the contaminating activities

Q11.A West Virginia landlord requires all applicants to provide references from previous landlords. An applicant who has never rented before claims this requirement discriminates against young people. Is this requirement legal?

• A.No, because it has a disparate impact on young people
• B.No, because age is a protected class in West Virginia
• C.Yes, because it is a legitimate business requirement applied uniformly
• D.Yes, but only if alternative forms of references are accepted

Q12.What does APR stand for in mortgage lending?

• A.Adjusted Principal Rate
• B.Annual Percentage Rate
• C.Approved Payment Ratio
• D.Average Premium Rate

Q13.According to West Virginia Real Estate Commission regulations, how often must a broker conduct formal reviews of salesperson performance?

• A.Monthly
• B.Quarterly
• C.Annually
• D.No specific frequency is required

Q14.A loan has a principal balance of $200,000 at 6% annual interest. What is the monthly interest payment?

• A.$1,000
• B.$1,200
• C.$1,500
• D.$2,000

Q15.A West Virginia broker represents both buyer and seller in the same transaction with proper dual agency disclosure. The broker learns confidential information from the seller about their motivation to sell quickly due to financial distress. The broker should:

• A.Immediately disclose this to the buyer to get the best deal
• B.Keep this information confidential from the buyer
• C.Disclose only if the seller gives written permission
• D.Withdraw from representing one of the parties