VRES - Virginia Real Estate Salesperson Exam

Question 1: A Virginia licensee and a seller in Henrico County shake hands on a listing arrangement and agree to sort out the paperwork later. Which of the following describes what Virginia law requires of the instrument that creates a brokerage relationship?

It must be a written agreement

It may be oral if later confirmed

It may be oral for residential listings

Writing is required only for buyers

Question 2: Two people walk through a listed townhouse in Alexandria on the same afternoon. One has signed a brokerage agreement with the licensee showing the property, and the other has not. Which of the following identifies the person the statute calls a client?

Whoever makes the first written offer

Both, once they tour the property

The one who entered a brokerage relationship

Neither, until settlement occurs

Question 3: A licensee in Chesapeake unlocks a listed house for a prospective buyer who has no agent, answers factual questions about the age of the roof, and hands over a blank purchase form. Which of the following describes that prospective buyer's status?

A client by conduct

A customer receiving ministerial acts

An unrepresented party owed fiduciary duties

A designated representative of the seller

Question 4: A licensee representing the seller of a Norfolk bungalow wants to help an unrepresented buyer without accidentally creating a second relationship he never intended. Which of the following states the test the statute uses to identify a ministerial act?

The act is unpaid and voluntary

The act precedes any written offer

The act is disclosed to the seller

The act involves no discretion or judgment

Question 5: Virginia's brokerage relationships article uses a particular label for a licensee who acts for or represents a client in an agency relationship in a residential real estate transaction. Which of the following is the statutory label for that role?

Standard agent

General agent

Universal agent

Special agent

Question 6: A seller in Roanoke wants her listing on the multiple listing service and nothing more, with no showings, negotiation help, or contract assistance from the licensee. Which of the following describes the arrangement Virginia recognizes for that situation?

An independent contractor arrangement

A ministerial services engagement

A limited service agency

A designated representation

Question 7: Two licensees at the same Williamsburg firm end up working opposite sides of one transaction. One of them proposes that they simply agree between themselves to act as designated representatives. Which of the following describes what Virginia requires?

Each licensee documents her own designation

The clients designate their own representatives

Designation happens automatically within a firm

The principal or supervising broker assigns them

Question 8: A licensee in Suffolk has a signed brokerage agreement with the seller of a farmhouse and also has a signed brokerage agreement with the buyer who wants to purchase it. Which of the following describes her role in that transaction?

Standard agent for the seller only

Dual agent or dual representative

Designated agent for the buyer

Limited service agent for both

Question 9: A Virginia brokerage agreement drafted in Loudoun County states the fee, the services, and a termination date but says nothing about the capacity in which the licensee will serve. Which of the following identifies the element the statute says is missing?

Agent or independent contractor status

Willingness to cooperate with other brokers

Residential or commercial property type

The identity of the referring licensee

Question 10: A candidate studying for the Virginia examination notices that the national material describes agency duties using a list of common-law fiduciary obligations that does not match the Virginia statute at all. Which of the following best explains that difference for the state portion?

The national list governs absent objection

Virginia adopts the common law by reference

The lists split by license level

Virginia abrogated the inconsistent common law

Question 11: A seller in Lynchburg sues her listing licensee, arguing that a real estate professional owes the highest possible standard of skill in handling a client's affairs. Which of the following states the standard of care Virginia's agency article actually imposes?

Utmost care and undivided loyalty

The care a specialist would exercise

Ordinary care

Strict liability for any loss

Question 12: During a listing appointment in Fredericksburg a seller mentions that a job transfer means she must move quickly and will take considerably less than her asking price. Which of the following describes the licensee's obligation regarding that piece of information?

Keep it confidential absent written consent

Share it with any cooperating broker

Disclose it as a material fact

Keep it confidential for one year only

Question 13: A licensee representing a seller in Staunton receives an earnest money deposit and various documents in which the seller may have a financial interest. Which of the following describes the duty the agency article places on her regarding those items?

Hold them until the transaction closes

Deliver them to the settlement agent immediately

Transfer them to the buyer's licensee

Account for them in a timely manner

Question 14: A buyer's licensee in Prince William County hears an unverified rumor that a road widening may be planned near a property her client likes. She has no actual knowledge of any such project. Which of the following describes her disclosure duty?

Investigate and report her findings

Disclose material facts she actually knows

Disclose every rumor she hears

No disclosure duty to buyer clients

Question 15: A listing licensee in Danville knows the crawl space of her seller's house floods every spring. An unrepresented buyer, who is only a customer, tours the property. Which of the following describes what the licensee owes that buyer?

Nothing, since he is not a client

A recommendation to hire an inspector

Disclosure of the known adverse physical condition

Confidential treatment of the buyer's own information

Question 16: Among the property conditions a Virginia licensee must disclose when she has actual knowledge of them, the agency article singles out one hazard by name in residential property. Which of the following is that one specifically named condition?

Defective drywall

Lead-based paint

Radon gas

Underground storage tanks

Question 17: A listing licensee in Hampton opens the house for an unrepresented buyer, provides public tax record information, and schedules a follow-up visit. The seller worries that his agent has switched sides. Which of the following describes the effect of those acts?

They create a relationship with the buyer

They convert her into a dual agent

They breach the seller's brokerage agreement

They create no relationship with the buyer

Question 18: A buyer's licensee in Blacksburg represents two clients who are both interested in the same listed house. One accuses her of disloyalty for showing it to the other. Which of the following describes Virginia's rule on that situation?

She must withdraw from one representation

She must obtain written consent from both

Showing the same property breaches no duty

She must disclose each client's offer terms

Question 19: A listing in Newport News expires without a sale, and the seller decides not to renew. The licensee asks what she still owes her former client now that the engagement has ended. Which of the following identifies the surviving duties?

Ordinary care and material fact disclosure

Accounting and confidentiality

Promotion of the client's interests

No duties survive termination

Question 20: Three years after a Virginia listing ended, the former listing licensee is asked by a neighbor what the seller's lowest acceptable price had been. Which of the following describes how long the confidentiality duty lasts under Virginia law?

Indefinitely, absent law or written consent

Two years from termination

Until the property sells to anyone

Five years from the date of execution

VRES Virginia Real Estate Salesperson Exam - Set 2 - Part 1