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| Certification Vendor: | Virginia Department of Professional and Occupational Regulation (DPOR), administered by PSI Services |
| Exam Name: | Virginia Real Estate Salesperson Licensing Examination |
| Exam Number: | VA-RES |
| Exam Format: | Multiple-choice questions, Computer-based testing, Includes experimental unscored items |
| Exam Duration: | 150 (105 minutes national, 45 minutes state) |
| Related Certifications: | Virginia Real Estate Broker License |
| Certificate Validity Period: | 2 years |
| Passing Score: | 56/80 (70%) national, 30/40 (75%) state; both portions must pass |
| Real Exam Qty: | 120 (80 national, 40 state) |
| Available Languages: | English |
| Exam Price: | $60 USD |
| Recommended Training: | DPOR Approved Education Providers |
| Exam Registration: | PSI Official Registration Portal Virginia DPOR Real Estate Board |
| Sample Questions: | Real Estate Licensing Virginia-Real-Estate-Salesperson Sample Questions |
| Exam Way: | Computer-based at PSI test centers; paper-based available upon special request |
| Pre Condition: | Be at least 18 years old; hold high school diploma or equivalent; complete 60 hours of board-approved pre-license education; pass background check and fingerprinting |
| Official Syllabus URL: | https://www.dpor.virginia.gov/Boards/Real-Estate/ |
| Section | Weight | Objectives |
|---|---|---|
| Virginia State Portion | 33% | - Specific Acts Governing Real Estate Practice - Virginia Fair Housing Law and Regulations - Disclosure Requirements - Agency Definitions and Relationships - Escrow Accounts and Trust Funds - Licensing Requirements and Regulations |
| National Portion | 67% | - Transfer of Title - Contracts - Property Ownership - Land Use Controls and Regulations - General Principles of Agency - Real Estate Calculations - Valuation and Market Analysis - Financing - Practice of Real Estate - Property Condition and Disclosures |
1. Four investors agree to co-ownership of an investment property. They have arranged the ownership structure so that if one of them dies, the decedent's ownership stake passes to the remaining investors. What form of co-ownership do the investors have?
A) tenants in common
B) community property
C) joint tenancy
D) sole ownership
2. What is a management proposal?
A) a report prepared by the property manager that informs the property owner(s) of their property's expenses, income, and disbursements
B) a budget for variable expenses
C) a plan a property manager creates for managing a property, including an analysis of the market, financial standing, and operating budget
D) a subdivision plan that includes residential dwellings along with nonresidential real estate
3. In which of these cases should an agent disclose information about someone's HIV/AIDS status?
A) Agents should never disclose or inquire about someone's HIV/AIDS status.
B) only if the seller or tenant's status has caused the property to be stigmatized
C) only if the seller has previously made their HIV or AIDS status public
D) only when a buyer client insists on knowing this information
4. When the CFPB introduced the new TRID rules integrating RESPA and TILA rules, what two disclosure forms did they mandate lenders provide to borrowers?
A) the TILA disclosure and the RESPA disclosure
B) the Good Faith Estimate and the HUD-1
C) the Loan Estimate and the Closing Disclosure
D) the Settlement Statement and the Loan Disclosure
5. 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) whatever Ken asks for
B) nothing, since it is for the public good
C) whatever they decide is reasonable
D) just compensation
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: D |
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