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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What is the goal of the Sherman Antitrust Act?

A) to protect consumers against inaccurate and unfair credit billing and credit card practices
B) to ensure the fair treatment of all Americans seeking housing
C) to prohibit deceit, misrepresentations, and other fraud in the sale of securities
D) to promote fair competition on behalf of American consumers

2. Marie agreed to a contract in which she can lease a house for a period of two years and then has the option to buy the home if she can secure financing. What type of contract is this?

A) lease-option agreement
B) sales contract with a contingency
C) land trust
D) cooperative sales contract

3. The creation of express agency is best handled via a(n):

A) listing agreement or ratified actions
B) listing agreement or buyer representation agreement
C) oral agreement or ratified actions
D) oral agreement or buyer representation agreement

4. Ben would like to construct a restaurant on a parcel of land. This particular parcel is not zoned for commercial use. Ben should go to the city and seek a(n):

A) encroachment
B) use variance
C) exemption
D) deferrence

5. Alexa and Harrison have gone over every term and condition in the contract they have drawn up for the sale of Alexa's racehorse to Harrison. Neither party has any questions or desire to change anything about the agreement. Which essential element of a valid contract appears to have been realized?

A) lawful objective
B) consideration
C) reality of consent
D) mutual assent

Solutions: