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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

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

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

2. A licensee could be found liable for all of the following EXCEPT:

A) failure to disclose an unknown latent defect in an inaccessible location
B) failure to disclose a latent defect that the licensee should have reasonably known
C) attempting to conceal a known latent defect
D) failure to disclose a known latent defect to the buyer

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

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

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

5. A type of (usually commercial) lease in which the tenant pays a base rent amount and a percentage of their business profits to the landlord is a:

A) ground lease
B) percentage lease
C) gross lease
D) net lease

Solutions: