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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. Vicarious liability is the common law concept that:

A) brokers are free from taking responsibility for their agents' actions
B) license holders may ONLY be held liable if violations are brought to court
C) a person is liable for the actions of those acting with authority on that individual's behalf
D) agents cannot be held liable for violating fiduciary duties, while brokers can

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

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

3. The government sends Ken a notice stating that his house and neighborhood will be demolished to build a much- needed water treatment plant. What is the government required to offer Ken in exchange for taking his property?

A) just compensation
B) whatever Ken asks for
C) nothing, since it is for the public good
D) whatever they decide is reasonable

4. Disclosure is an important part of a brokerage's duties and responsibilities. Which of the following is NOT an important disclosure all brokerages should make?

A) disclosure of an area's demographics of race and ethnicity
B) disclosure of all offers
C) disclosure of agency
D) disclosure of financial condition

5. What rights govern the use of flowing water, such as rivers or streams?

A) riparian rights
B) appropriative rights
C) littoral rights
D) percolating rights

Solutions: