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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. In Virginia, what is the difference between the REB and theFHB?

A) The REB is responsible for the enforcement of the fair housing law for real estate licensees. The FHB is responsible for all other violators.
B) The FHB is responsible for the enforcement of the fair housing law for real estate licensees. The REB is responsible for all other violators.
C) They are the same thing.
D) The REB reports to HUD, while the FHB does not.

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

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

3. The consummation of a real estate sale is known as the:

A) signing of the contract
B) option period
C) closing
D) offer and acceptance

4. John is a landlord. He has an applicant for an apartment who uses a cane. John tells her that she should go to the complex across the street, as they have more first-floor units available, and he doesn't want her to have to climb the stairs in his building. She thanks him for the tip. Evaluate.

A) John steered the applicant, which was a risky move, but it paid off this time.
B) John did nothing wrong. He simply evaluated the applicant and tried to do what was best for her.
C) John steered the applicant, which is never okay, even if she expressed appreciation.
D) John steered the applicant, but it was okay since she expressed appreciation.

5. Trystan and Nia enter into a contract for the sale of a tiny house. Trystan is 17. Closing is supposed to occur in two weeks. This contract is:

A) executed and void
B) executory and void
C) executed and voidable
D) executory and voidable

Solutions: