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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. What deed provides the grantee with the least protection of any deed, while putting the least liability on the grantor?

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

2. Which of the following is a unique quality of limited service agents in Virginia?

A) Limited service agents can assist in residential transactions ONLY.
B) Limited service agents can assist in both residential and commercial transactions.
C) Limited service agents can assist in commercial transactions ONLY.
D) Limited service agents can assist in neither residential nor commercial transactions.

3. A form of insurance that protects the policyholder by covering any losses they might incur as a result of theft or fraud by specified individuals is:

A) a fidelity bond
B) a security bond
C) a liability bond
D) a risk management bond

4. Peter and Ned co-own a type of real estate business together. This business is legally treated the same as a single person, meaning it is technically ownership in severalty. Peter and Ned are also not liable for the organization's debt. What type of business do Peter and Ned own?

A) general partnership
B) sole proprietorship
C) corporation
D) limited partnership

5. When an individual hails a cab and tells the driver where they want to be taken, that passenger has entered into what kind of contract?

A) implied
B) unilateral
C) express
D) written

Solutions: