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Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q54-Q59):
NEW QUESTION # 54
Which of these is a federal law that aims to protect people and the environment from the harmful effects of air pollution?
- A. Superfund Amendments and Reauthorization Act
- B. Safe Drinking Water Act
- C. CERCLA
- D. Clean Air Act
Answer: D
Explanation:
The Clean Air Act (CAA) is the federal law designed to protect human health and the environment from the harmful effects of air pollution.
It authorizes the EPA to set air quality standards, regulate emissions from industries and vehicles, and enforce compliance.
Other options:
(B) Safe Drinking Water Act → protects water quality.
(C) Superfund Amendments and Reauthorization Act (SARA) → expands CERCLA's hazardous waste cleanup responsibilities.
(D) CERCLA (Comprehensive Environmental Response, Compensation, and Liability Act) → governs cleanup of hazardous waste sites ("Superfund").
Reference (Virginia Real Estate):
Clean Air Act, 42 U.S.C. § 7401 et seq.
Virginia Real Estate Principles - Environmental issues section
NEW QUESTION # 55
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. constructive or actual notice of real property ownership
- D. a title free from significant encumbrances or defects (such as liens) that might prevent a purchaser from enjoying or eventually selling the property
Answer: D
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 # 56
The relationship between a property manager and the property owner is most comparable to that of a:
- A. tenant with a landlord
- B. stockholder with the board of directors of a corporation
- C. cashier with the owner of a store
- D. salesperson with their broker
Answer: D
Explanation:
A property manager acts as an agent for the property owner.
The manager owes fiduciary duties to the owner, similar to how a salesperson works under and owes duties to their broker.
Other comparisons:
(A) Tenant/landlord = contractual lease, not fiduciary.
(B) Stockholder/board = ownership vs governance, not agency.
(D) Cashier/store owner = employee/employer, not fiduciary agent.
Reference:
Code of Virginia §54.1-2100 (definitions of brokerage relationships, property management included) Virginia Real Estate Board Regulations (agency and fiduciary duties)
NEW QUESTION # 57
What is unique about an exclusive right-to-sell listing agreement?
- A. The broker represents both the seller and the buyer.
- B. There are multiple brokers working to sell the same property.
- C. The broker gets compensation regardless of who sells the property.
- D. The broker acts as a general agent for the client in all business dealings.
Answer: C
Explanation:
An Exclusive Right-to-Sell Listing Agreement is the strongest listing contract for brokers.
The broker earns a commission regardless of who procures the buyer-whether it's another broker, the seller themselves, or the listing agent.
This contrasts with an Exclusive Agency Agreement, where the seller may avoid paying commission if they find the buyer themselves.
Virginia law requires such agreements to be in writing, signed by all parties, and have a definite termination date (§ 54.1-2137).
Reference (Virginia Real Estate):
Code of Virginia § 54.1-2137 (Agency agreements)
Real Estate Regulations (18 VAC 135-20-280) regarding written agreements
NEW QUESTION # 58
A leasehold agreement where the base rent changes is called a:
- A. percentage lease
- B. lease-purchase agreement
- C. net lease
- D. variable lease
Answer: D
Explanation:
A variable lease (sometimes called an index lease) is a lease agreement in which the base rent changes during the lease term. Adjustments may occur based on:
Consumer Price Index (CPI)
Scheduled increases at certain intervals
Other options are incorrect:
Net Lease: Tenant pays base rent + some or all property expenses.
Percentage Lease: Rent is based partly on tenant's gross sales (common in retail).
Lease-Purchase Agreement: Tenant leases property with option or obligation to purchase.
Since the question specifies base rent changes, the correct term is variable lease.
Reference:
Virginia Real Estate Principles & Practices (Leasing section)
Real Estate Board Exam Content Outline: Contracts & Leases
NEW QUESTION # 59
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