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Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q67-Q72):

NEW QUESTION # 67
A legally competent party to a contract will:

A. have reached the age of majority and be literate
B. be literate and not be mentally incompetent or intoxicated by drugs or alcohol
C. not be mentally incompetent or intoxicated by drugs or alcohol and have legal representation
D. have reached the age of majority and not be mentally incompetent or intoxicated by drugs or alcohol

Answer: D

Explanation:
For a contract to be legally enforceable, all parties must be legally competent. This requires:
Age of majority (18 in Virginia).
Mental competency (not declared mentally incompetent).
Not under the influence of drugs or alcohol at the time of signing.
Other options:
(B) & (D) Literacy is not required for legal competency.
(C) Legal representation is not required for a valid contract.
Reference (Virginia Real Estate):
Code of Virginia Title 11 - Contracts
Virginia Real Estate Principles - Elements of valid contracts
A490-02REGS.pdf - Contracts curriculum

NEW QUESTION # 68
Which of these ownership concepts gives each co-owner the right to possession of the whole property?

A. sole proprietorship
B. equitable interest
C. undivided interest
D. unity of time

Answer: C

Explanation:
In co-ownership, the principle of undivided interest means each co-owner has:
The right to possess and use the entire property, not just a physical portion.
Equal rights of possession regardless of ownership percentage.
Other options:
Sole proprietorship (A): Single owner, not co-ownership.
Unity of time (C): A required element of joint tenancy but not the concept granting rights to the whole property.
Equitable interest (D): Refers to the rights of a buyer under contract before receiving legal title.
Thus, the correct answer is undivided interest.
Reference:
Virginia Real Estate Principles & Practices (Ownership Section)
Code of Virginia §55.1 (Property & Conveyances)

NEW QUESTION # 69
What is the legal doctrine by which the decedent's property will pass to the state without their consent if that individual dies without a will, a surviving spouse, lineal descendants, or other known heirs?

A. variance
B. eminent domain
C. escheat
D. police power

Answer: C

Explanation:
This is the same as Question 100 - likely a duplicate question. Again, the answer is escheat because property without heirs or a will reverts to the state.
Reference (Virginia Real Estate):
Same as Question 100.

NEW QUESTION # 70
Which of these is a person who is licensed to represent one of the parties in a real estate transaction in exchange for a commission or other valuable consideration?

A. salesperson
B. appraiser
C. assistant broker
D. broker

Answer: D

Explanation:
In Virginia, a real estate broker is the person licensed to represent one of the parties in a real estate transaction in exchange for commission or other valuable consideration.
Salesperson (A): Licensed to perform brokerage activities but only under the supervision of a broker; cannot independently represent a party for commission.
Assistant Broker (B): Not an official license category in Virginia.
Appraiser (D): Licensed to determine property value, not to represent parties in real estate transactions.
Thus, the correct answer is broker.
Reference:
Code of Virginia §54.1-2100 (Definitions)
Virginia Real Estate Board Regulations (18 VAC 135-20)

NEW QUESTION # 71
Which of the following can be described as a nonexclusive listing agreement that gives multiple brokers (and owners themselves) the right to sell property, and the individual who is considered to have procured the cause of the sale is the one who will receive the commission?

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

Answer: C

Explanation:
An open listing is a nonexclusive listing agreement where:
Multiple brokers may attempt to sell the property.
The seller retains the right to sell it themselves.
Only the broker (or seller) who is the procuring cause of the sale earns the commission.
Other agreements:
Net listing (A): Broker keeps anything above a set sale price (illegal in many states, including Virginia).
Exclusive right-to-sell (B): Broker gets commission no matter who sells the property.
Exclusive agency (D): Seller can sell without paying commission, but only one broker is engaged.
Reference (Virginia Real Estate):
Code of Virginia § 54.1-2137 (Agency agreements)
A490-02REGS.pdf - Listing agreements curriculum

NEW QUESTION # 72
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Real Estate Licensing Virginia-Real-Estate-Salesperson Exam Dumps in PDF Format

Virginia-Real-Estate-Salesperson Test Questions | Reliable Virginia-Real-Estate-Salesperson Practice Materials

Real Estate Licensing Virginia Real Estate Salesperson Exam Sample Questions (Q67-Q72):

Real Estate Licensing - Unparalleled Virginia-Real-Estate-Salesperson - Valid Dumps Virginia Real Estate Salesperson Exam Sheet

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