Virginia Real Estate Broker Exam — All Questions

Virginia's Residential Property Disclosure Statement generally reflects an approach in which the seller:

• a.Warrants the condition of every component of the home
• b.Notifies the buyer to exercise due diligence rather than providing a lengthy list of warranted conditions✓
• c.Is exempt from all disclosure
• d.Must guarantee the home passes inspection

Virginia generally follows a buyer-beware disclosure approach in which the seller provides a Residential Property Disclosure Statement notifying the buyer to exercise due diligence, rather than warranting a lengthy list of conditions, though certain specific disclosures still apply. Licensees must ensure the statement is provided and must not help conceal known material defects.

Virginia's Underground Utility Damage Prevention Act requires that before excavation a person must:

• a.Obtain a real estate license
• b.Notify the local zoning board only
• c.Notify the notification center (call before you dig) to help locate underground lines✓
• d.Do nothing, as excavation is unregulated

Virginia's Underground Utility Damage Prevention Act requires notifying the notification center before excavation so underground utility lines can be located and protected from damage. This can matter for new construction and site work. Brokers involved in land or new-construction transactions should be aware of the requirement.

Under the Virginia Fair Housing Law and the federal Fair Housing Act, a licensee is prohibited from:

• a.Steering buyers, refusing service, or advertising a discriminatory preference based on a protected characteristic✓
• b.Requiring mortgage pre-approval before showings
• c.Charging a commission
• d.Presenting all written offers to the seller

The Virginia Fair Housing Law, alongside the federal Fair Housing Act, prohibits discrimination in housing based on protected characteristics. Licensees may not steer, refuse service, or advertise a discriminatory preference. The broker is responsible for ensuring the firm's practices and advertising comply, and fair-housing violations are a serious basis for discipline.