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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What is unique about an exclusive right-to-sell listing agreement?

A) The broker acts as a general agent for the client in all business dealings.
B) There are multiple brokers working to sell the same property.
C) The broker gets compensation regardless of who sells the property.
D) The broker represents both the seller and the buyer.

2. An agreement that gives only one broker and the owner the right to sell the property is called a(n):

A) exclusive right-to-sell listing
B) net listing
C) exclusive agency listing
D) open listing

3. According to the Virginia Residential Landlord Tenant Act (VRLTA) what is the maximum amount a landlord may keep as a security deposit?

A) one month's rent
B) two months' rent
C) six months' rent
D) $2,000

4. Which of the following can be described as a nonexclusive listing agreement that gives multiple brokers (and owners themselves) the right to sell property, and the individual who is considered to have procured the cause of the sale is the one who will receive the commission?

A) net listing
B) exclusive right-to-sell agreement
C) exclusive agency agreement
D) open listing

5. All of the following are examples of legal descriptions of property EXCEPT:

A) SW 1/4 of NW 1/4 of NE 1/2 of T3N R4E of Meridian 16
B) 8647 Notting Hill Drive, Berkshire, Colorado 52467
C) Lot E, Block 14 of West Lake Village, Orange County, Texas
D) Lot A, Block 2 of Shady Tree Subdivision, Madison County, Wisconsin

Solutions: