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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam
Virginia Real Estate Salesperson (Page 4 )

Updated On: 7-Feb-2026
Page 4 of 25
PDF with 120 Questions

What does the VRLTA aim to do?

  1. regulate landlord maintenance practices for industrial warehouses across the United States
  2. monitor commercial leasing practices in Virginia
  3. establish uniform laws to regulate leasehold interests and improve leasing practices in Virginia
  4. regulate owner-occupied REO properties in Virginia

Answer(s): C

Explanation:

The Virginia Residential Landlord and Tenant Act (VRLTA) was enacted to:

Establish uniform standards for rental housing in Virginia.

Govern leasehold interests in residential property.

Clarify landlord and tenant rights/responsibilities.

Improve rental practices, reduce disputes, and ensure fairness.

Other options:

(A) Wrong -- VRLTA applies to Virginia residential properties, not industrial warehouses nationwide.

(B) Wrong -- It does not apply to commercial leasing.

(D) Wrong -- It does not regulate REO or owner-occupied property.


Reference:

Code of Virginia, Title 55.1, Chapter 12 ­ Virginia Residential Landlord and Tenant Act (VRLTA)

Virginia Real Estate Board CE Curriculum ­ Landlord & Tenant Law



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:

  1. executed and voidable
  2. executory and void
  3. executory and voidable
  4. executed and void

Answer(s): C

Explanation:

A contract is executory when its terms have not yet been fully performed (here, closing has not yet occurred).

Because Trystan is 17 years old, he is a minor under Virginia law (legal capacity begins at 18). A minor's contract is generally voidable at the option of the minor, but enforceable against the adult party.

Therefore, this contract is executory (not yet performed) and voidable (due to Trystan's age).


Reference:

Code of Virginia §1-204 (Age of majority = 18)

Virginia Real Estate Board Exam Outline ­ Contracts (capacity, validity, executory vs executed)



Which of the following discussions is a violation of antitrust laws and is also an anti-competitive practice?

  1. two brokers discussing how to cooperate more effectively in a specific real estate transaction
  2. brokers commenting on the siding color on a newly listed home in their area
  3. brokers agreeing to not show a certain broker's listings to their clients because they don't like that broker
  4. two brokers discussing new laws enacted in their county

Answer(s): C

Explanation:

Antitrust laws (Sherman Act, Clayton Act, and Virginia state law) prohibit anti-competitive practices in real estate. The most common violations are:

Price fixing (agreeing on commission rates)

Group boycotting (refusing to deal with a broker or vendor)

Market allocation (dividing territories/clients)

Tie-in arrangements

Here, brokers agreeing not to show another broker's listings is a group boycott, which is a violation of antitrust law.

Other options:

(A) Cooperation in a transaction = legal.

(B) Comments on siding color = legal, not antitrust.

(D) Discussing new laws = legal.


Reference:

Sherman Antitrust Act, 15 U.S.C. §§ 1­7

Virginia Real Estate Board CE Outline ­ Antitrust in Brokerage



Which of the following is a unique quality of limited service agents in Virginia?

  1. Limited service agents can assist in neither residential nor commercial transactions.
  2. Limited service agents can assist in residential transactions ONLY.
  3. Limited service agents can assist in commercial transactions ONLY.
  4. Limited service agents can assist in both residential and commercial transactions.

Answer(s): D

Explanation:

In Virginia, a limited service agent is a licensee who enters into a brokerage agreement that provides fewer services than a standard brokerage agreement.

The law requires that the agent's limited duties must be disclosed in writing.

These agents can operate in both residential and commercial transactions, not just one type.

Other options:

(A) Wrong -- They can assist in both.

(B) Wrong -- Not limited to residential.

(C) Wrong -- Not limited to commercial.


Reference:

Code of Virginia §54.1-2138.1 (Limited service agent defined)

Real Estate Board Regulations, 18 VAC 135-20-300



What deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor?

  1. general warranty deed
  2. special warranty deed
  3. quitclaim deed
  4. bargain and sale deed

Answer(s): C

Explanation:

Deed types vary by the level of protection given to the grantee and liability for the grantor:

General Warranty Deed (A): Highest protection; grantor warrants title against all defects, even before their ownership.

Special Warranty Deed (B): Warrants only against defects during the grantor's ownership.

Quitclaim Deed (C): Provides no warranties at all -- it only conveys whatever interest (if any) the grantor may have. Offers the least protection for the grantee and least liability for the grantor.

Bargain and Sale Deed (D): Conveys ownership but with limited or no warranties; still greater than quitclaim in most contexts.

Thus, the quitclaim deed gives the grantee the least protection.


Reference:

Code of Virginia §55.1-300 et seq. (Conveyances and deeds)

Virginia Real Estate Principles & Practices ­ Deeds section



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