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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. A type of (usually commercial) lease in which the tenant pays a base rent amount and a percentage of their business profits to the landlord is a:

A) ground lease
B) percentage lease
C) gross lease
D) net lease

2. What is the purpose of the Do Not Call Registry?

A) It governs the use of commercial email advertising.
B) It regulates telemarketing activities from commercial organizations.
C) It has three main truth-in-advertising provisions.
D) It bans bait-and-switch ads.

3. Harry, an agent, transfers some money from an escrow account into his personal savings accounts. What is he doing and is it legal or illegal?

A) This is conversion, and it is illegal.
B) This is commingling, and it is illegal.
C) This is commingling, and it is legal.
D) This is conversion, and it is legal.

4. An agreement that gives only one broker and the owner the right to sell the property is called a(n):

A) exclusive right-to-sell listing
B) net listing
C) exclusive agency listing
D) open listing

5. What is unique about an exclusive right-to-sell listing agreement?

A) The broker acts as a general agent for the client in all business dealings.
B) The broker represents both the seller and the buyer.
C) There are multiple brokers working to sell the same property.
D) The broker gets compensation regardless of who sells the property.

Solutions: