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Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q23-Q28):

NEW QUESTION # 23
What is a marketable title?

A. the official opinion of an attorney regarding the condition of a property's title
B. an abbreviated history of a property, including information on any transfers, grants, wills, conveyances, liens, and encumbrances
C. a title free from significant encumbrances or defects (such as liens) that might prevent a purchaser from enjoying or eventually selling the property
D. constructive or actual notice of real property ownership

Answer: C

Explanation:
Marketable title means the title is clear enough that a prudent buyer would accept it.
It is free from serious defects, liens, or encumbrances that could jeopardize ownership or resale.
Other options:
(A) Opinion of title = attorney's assessment, not the title itself.
(B) Abbreviated history = abstract of title.
(D) Constructive/actual notice = legal doctrines, not marketability.
Reference:
Virginia Real Estate Principles & Practices - Title Concepts
Code of Virginia §55.1-900 et seq. (Title and conveyances)

NEW QUESTION # 24
Which of the following is correct about implied and express contracts?

A. Express contracts can be legally binding, while implied contracts cannot.
B. Implied contracts explicitly state the terms of the contract, while express contracts are established by the parties' actions.
C. Implied contracts can be legally binding, while express contracts cannot.
D. Express contracts explicitly state the terms of the contract, while implied contracts are established by the parties' actions.

Answer: D

Explanation:
Express contract: Terms are explicitly stated in words, either orally or in writing (e.g., a signed listing agreement).
Implied contract: Formed through the conduct or actions of the parties (e.g., ordering food at a restaurant implies a promise to pay).
Both types can be legally binding. The key difference is how the agreement is established.
Reference (Virginia Real Estate):
Code of Virginia Title 11 - Contracts
Virginia Real Estate Board education requirements - Contracts

NEW QUESTION # 25
Janay lives in and is licensed as a salesperson in North Carolina but wants to practice real estate in Virginia. Which of the following is true?

A. The REB will require Janay to take a special licensing course for out-of-state residents.
B. The REB requires real estate professionals to have residency in the state of Virginia, so Janay cannot practice in Virginia.
C. Janay only needs to take and pass the state portion of the licensing exam.
D. The REB does not recognize or transfer licenses from other states, so Janay will need to complete all salesperson pre-licensure requirements.

Answer: C

Explanation:
Virginia has reciprocity agreements with several states, including North Carolina.
If Janay is already licensed in NC, she only needs to:
Apply to the Virginia Real Estate Board.
Provide certification of her NC license in good standing.
Pass the Virginia state portion of the licensing exam.
She does not need to retake pre-licensure education, and residency in Virginia is not required.
Reference (Virginia Real Estate):
Virginia Code § 54.1-2105.2 (Reciprocity for out-of-state licensees)
Real Estate Board Reciprocity Rules (DPOR guidance)
A490-02REGS.pdf - Licensing requirements

NEW QUESTION # 26
A home is being sold "as is." Evaluate this situation.

A. The seller is signaling that they do not want to do any repairs, regardless of what is found in the inspection.
B. The seller is planning to tear down the house before closing.
C. The seller does not have to disclose any defects to the buyer.
D. The seller is indicating that they believe their home to be in pristine condition.

Answer: A

Explanation:
When a property is sold "as is":
The seller is saying they will not make repairs or improvements, regardless of what inspections reveal.
However, sellers are still required to disclose known material defects under Virginia law (they cannot conceal or misrepresent conditions).
Other options:
(A) Incorrect → disclosure obligations remain.
(B) Incorrect → "as is" doesn't mean demolition.
(D) Incorrect → "as is" does not imply the home is pristine, just that no repairs will be made.
Reference (Virginia Real Estate):
Virginia Residential Property Disclosure Act (§ 55.1-700 et seq.)
Virginia Real Estate Principles - Disclosures and "as is" transactions
A490-02REGS.pdf - Disclosure curriculum

NEW QUESTION # 27
What deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor?

A. special warranty deed
B. bargain and sale deed
C. quitclaim deed
D. general warranty deed

Answer: 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

NEW QUESTION # 28
......

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Virginia-Real-Estate-Salesperson Latest Exam Experience & Virginia-Real-Estate-Salesperson Latest Exam Simulator

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Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q23-Q28):

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