Free West Virginia Real Estate Practice Exam

Q1.In a hostile environment harassment analysis, the key question is whether:

• A.The harasser intended to create discomfort
• B.The conduct was welcomed from the harasser's perspective
• C.The conduct occurred more than three times
• D.A reasonable person in the victim's position would find the conduct severe or pervasive

Q2.Under the West Virginia Residential Property Disclosure Act (W. Va. Code §36B-1-1 et seq. and the associated Commission rules), a seller of a residential property must provide the completed Seller's Residential Property Disclosure form to the buyer no later than:

• A.At the time the purchase contract is executed by both parties.
• B.Before or at the time the buyer makes a written offer to purchase the property.
• C.Within three business days after the purchase contract is fully executed.
• D.At the time of the closing settlement.

Q3.The West Virginia Residential Property Disclosure Act requires sellers of residential real estate to provide buyers with a completed disclosure form. When must the seller deliver this disclosure to the prospective buyer?

• A.At or before the time the buyer makes a written offer to purchase
• B.Within 10 days after the purchase contract is fully executed by both parties
• C.No later than the date of settlement or closing
• D.Only if the buyer submits a written request for disclosure prior to making an offer

Q4.A buyer receives the West Virginia Residential Property Disclosure Form from a seller after already signing the purchase agreement. Under the West Virginia Residential Property Disclosure Act (W. Va. Code §36-6A-1 et seq.), what right does the buyer have upon receiving the disclosure after contract execution?

• A.The buyer must accept the property as disclosed because the purchase contract was already executed and is binding.
• B.The buyer has a right to rescind the purchase agreement within a defined period after receiving the disclosure, without penalty.
• C.The buyer may only seek a price reduction through renegotiation but cannot rescind the contract once signed.
• D.The buyer must file a complaint with the West Virginia Real Estate Commission before any rescission rights are triggered.

Q5.Which government-sponsored enterprise (GSE) primarily purchases conventional mortgage loans to provide liquidity to the mortgage market?

• A.Fannie Mae
• B.Federal Housing Administration (FHA)
• C.Veterans Administration (VA)
• D.Department of Housing and Urban Development (HUD)

Q6.West Virginia requires licensed real estate salespersons to complete continuing education (CE) as a condition of license renewal. How many hours of continuing education must a salesperson complete per renewal period?

• A.6 hours
• B.7 hours
• C.14 hours
• D.30 hours

Q7.Which state agency is responsible for issuing, renewing, suspending, and revoking real estate licenses in West Virginia?

• A.The West Virginia Division of Labor
• B.The West Virginia Secretary of State
• C.The West Virginia Real Estate Commission
• D.The West Virginia Department of Commerce

Q8.Under W. Va. Code Chapter 30, Article 40, which of the following statements is TRUE regarding the public member of the West Virginia Real Estate Commission?

• A.The public member must hold an active real estate broker's license at the time of appointment.
• B.The public member serves to represent consumer interests and may not be a licensed real estate professional.
• C.The public member is elected by popular vote of West Virginia citizens.
• D.The public member's role is purely advisory and carries no voting privileges.

Q9.To protect against wire fraud at closing, a best-practice approach is to:

• A.Send wiring instructions via text message instead of email
• B.Use only cashier's checks for all transactions above $10,000
• C.Request that the title company encrypt all emails with a password
• D.Verbally confirm wiring instructions by phone using a number independently obtained — not one from the email

Q10.CERCLA (Comprehensive Environmental Response, Compensation, and Liability Act) is primarily concerned with which environmental issue?

• A.Air pollution from factories
• B.Cleanup of contaminated properties
• C.Water conservation requirements
• D.Noise pollution standards

Q11.The West Virginia Real Estate Commission has the authority to promulgate rules governing licensee conduct. Under West Virginia's Administrative Procedures Act, what must occur before those rules have the force of law?

• A.The rules must be approved by a simple majority vote of the West Virginia House of Delegates
• B.The rules must be filed with the Secretary of State and go through the legislative rule-making process
• C.The rules must be personally approved by the Governor and published in a state newspaper
• D.The rules become effective immediately upon a unanimous Commission vote

Q12.Under West Virginia Real Estate Commission rules, a broker who holds earnest money in escrow for a disputed transaction—where both buyer and seller are claiming the funds—should FIRST:

• A.Release the funds to the seller, who is the principal in the listing agreement.
• B.Return the funds to the buyer immediately, since the transaction did not close.
• C.Retain the disputed funds in the escrow account and seek a written release from both parties or follow the dispute resolution procedures established by the Commission.
• D.Deposit the funds into the broker's operating account to protect them from further dispute until the matter is resolved.

Q13.Under West Virginia Code Chapter 30, Article 40, the West Virginia Real Estate Commission is composed of how many members, and who appoints them?

• A.Five members appointed by the Governor, with Senate confirmation
• B.Seven members appointed by the Governor, with Senate confirmation
• C.Five members appointed by the Secretary of State, without Senate confirmation
• D.Seven members appointed by the Attorney General, with Senate confirmation

Q14.Under federal law, sellers of residential property built before 1978 must:

• A.Disclose known lead-based paint and hazards and provide an EPA pamphlet; buyers get a 10-day inspection period
• B.Test for lead paint before listing
• C.Remediate all lead paint before closing
• D.Obtain a lead clearance certificate from a licensed contractor

Q15.Which loan type requires the property to meet HUD Minimum Property Standards, potentially requiring seller repairs before the loan can close?

• A.FHA loans
• B.Conventional conforming loans
• C.VA loans only
• D.USDA Rural Development loans only