Virginia-Real-Estate-Salesperson: Virginia Real Estate Salesperson Exam
Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Dumps
Get All Virginia Real Estate Salesperson Exam Questions with Validated Answers
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Real Estate Licensing
Exam Code:
Virginia-Real-Estate-Salesperson
Exam Name:
Virginia Real Estate Salesperson Exam
Exam Questions:
120
Last Updated:
October 5, 2026
Related Certifications:
Real Estate Licensing
Exam Tags:
Entry LevelVirginia based real estate salespersons
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Free Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Actual Questions
Question No. 1
The four phases of an environmental site assessment are, in order:
An Environmental Site Assessment (ESA) is typically required in commercial real estate transactions to evaluate environmental risks. The four recognized phases are:
Management (Phase I -- Due Diligence): Review of records, site inspection, and interviews to identify potential contamination.
Investigation (Phase II): Collection of soil, groundwater, and other samples if contamination is suspected.
Testing (Phase III): Laboratory analysis and risk assessment of environmental hazards.
Remediation (Phase IV): Cleanup or mitigation of contamination (removal, containment, or corrective measures).
This sequence ensures proper environmental due diligence and liability protection under CERCLA (Comprehensive Environmental Response, Compensation, and Liability Act).
Reference (Virginia Real Estate):
CERCLA & ASTM Environmental Site Assessment Standards
Virginia Department of Environmental Quality (VDEQ) regulations
Virginia Real Estate Principles -- Environmental Issues section
Question No. 2
The EGI of a building is $300,000. The operating costs are $30,000.
Assemblage: The process of combining two or more adjacent parcels of land into one larger parcel.
Plottage: The increase in value that results from assemblage due to the greater utility or economic use of the combined parcel.
Example: Two small lots may be worth $50,000 each separately, but if assembled into one larger parcel, the combined property may be worth $120,000 due to increased development potential.
Reference (Virginia Real Estate):
Virginia Real Estate Principles -- Land and Appraisal section
A490-02REGS.pdf -- Valuation curriculum
Question No. 4
Ernest is a third-party trustee who is holding a title for the lender of a home loan that is secured by a trust deed. The title gives Ernest limited rights sufficient to carry out the terms of the trust. What kind of title does Ernest hold?
In Virginia (a deed of trust state), when property is financed, a third-party trustee (like Ernest) holds naked title (also called bare legal title) on behalf of the lender.
The borrower retains equitable title (the right to live in and enjoy the property).
The trustee's limited rights exist only to enforce the terms of the trust deed (e.g., initiating foreclosure if borrower defaults).
This differs from ''clean title'' or ''dirty title,'' which are not legal terms, and ''skinny title,'' which is not recognized in real estate law.
Reference (Virginia Real Estate):
Code of Virginia 55.1-3200 et seq. (Deeds of Trust)
Virginia Real Estate Principles -- Financing & Title theory vs. lien theory section
A490-02REGS.pdf -- Mortgage/Trust Deed curriculum
Question No. 5
Any non-natural structure built on or affixed to land is an:
