Free Virginia Real Estate Practice Exam 2026

Virginia real estate exam sample questions and answers

6 of the 120 practice questions, one from each topic, with the answer explained.

1. 1. A listing broker pays a fee to the cooperating broker who brought the buyer. Under Virginia law, the payment:

   • A.Requires the buyer's written consent
   • B.Creates no brokerage relationship
   • C.Makes the buyer's agent a subagent
   • D.Creates dual agency for the firm

   Answer: B. Code 54.1-2140 provides that paying or promising compensation does not create a brokerage relationship with any party, and 54.1-2141 says using an MLS does not either. The buyer's agent still represents the buyer.

2. 2. Under Real Estate Board regulations, every advertisement by a Virginia salesperson must:

   • A.Be filed with the Board before use
   • B.Carry the Board's approval stamp
   • C.Show the salesperson's license number
   • D.Clearly show the firm's licensed name

   Answer: D. Board regulation 18VAC135-20-190 requires all advertising to be under the principal or supervising broker's supervision, in the firm's name, with the firm's licensed name and office contact information clearly displayed. No license number or Board preapproval is required.

3. 3. A lender rejects a loan applicant because much of her income comes from public assistance, though it is reliable and ongoing. Under ECOA, this is:

   • A.Illegal discrimination in lending
   • B.Permitted because assistance is not earned income
   • C.Permitted if all applicants are treated alike
   • D.Permitted for loans over the conforming limit

   Answer: A. The Equal Credit Opportunity Act bars discrimination based on race, color, religion, national origin, sex, marital status, age or receipt of public assistance income. A lender may judge whether income is reliable, but may not reject it because its source is public assistance.

4. 4. A seller prepaid the $4,320 annual taxes for the calendar year. Closing is April 20, the seller owns the closing day, and a 360-day year is used. What does the buyer owe the seller?

   • A.$3,012
   • B.$1,320
   • C.$3,000
   • D.$2,958.90

   Answer: C. Daily tax is $4,320 / 360 = $12; the buyer owns April 21-30 (10 days) plus May through December (8 x 30 = 240 days), or 250 days, so 250 x $12 = $3,000 is credited to the seller. Using a 365-day rate gives $2,958.90, and giving the buyer the closing day gives 251 days, or $3,012.

5. 5. Under the Virginia Residential Landlord and Tenant Act, the landlord must send the itemized security deposit disposition within how long after the tenancy ends?

   • A.Within 30 days
   • B.Within 60 days
   • C.Within 45 days
   • D.Within 21 days

   Answer: C. Code 55.1-1226(A) requires the itemized written notice, with any refund due, within 45 days after the termination of the tenancy or the date the tenant vacates, whichever is later.

6. 6. Without the principal broker's prior written consent, from whom may a Virginia salesperson accept a commission for a sale?

   • A.Her own principal broker
   • B.The seller of the property
   • C.The cooperating broker
   • D.The buyer at settlement

   Answer: A. Board regulation 18VAC135-20-280(A)(2) bars a salesperson from accepting compensation for licensed activity from anyone except the principal or supervising broker without the principal broker's prior written consent. A cooperating broker pays the firm, not the salesperson.