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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Stigmatized properties are properties:

A) with suppressed market value due to something that happened on or to the property, rather than the physical condition or features of the property
B) that are exempt from ad valorem taxes
C) with suppressed market value due to their physical condition or features
D) with market prices far exceeding other similar properties within an area

2. The National Association of Realtors' Code of Ethics says
Realtors should act with:

A) integrity
B) competence
C) fairness
D) All choices are correct.

3. An area has been rezoned as residential, but a neighborhood store has been legacied in and allowed to continue its business.
This is an example of:

A) area variance
B) nonconforming use
C) amendment
D) conditional-use permit

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

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

5. Peter and Ned co-own a type of real estate business together. This business is legally treated the same as a single person, meaning it is technically ownership in severalty. Peter and Ned are also not liable for the organization's debt. What type of business do Peter and Ned own?

A) sole proprietorship
B) corporation
C) general partnership
D) limited partnership

Solutions: