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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The four phases of an environmental site assessment are, in order:

A) investigation, testing, remediation, management
B) testing, investigation, remediation, management
C) remediation, investigation, testing, management
D) management, investigation, testing, remediation

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

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

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

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

4. If a partner is only an investor and only has liability up to the amount of their investment, they are considered a:

A) tenant in partnership
B) general partner
C) limited partner
D) tenant in common

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

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

Solutions: