1. Which of the following phrases in a rental ad may be permissible
A. Children 12 and Older Only
B. Adults Only Building
C. Creek Village For Seniors Only Correct
D. All Couples Apartment Building
Explanation
Senior housing allows age restrictions for 55+ or 62+ communities, making C permissible. A, B, and D discriminate based on familial status or marital status, which is prohibited.
2. When MUST written disclosure of brokerage relationships be made to a purchaser
A. Upon first contact
B. Upon initial meeting
C. Upon first specific real estate assistance Correct
D. Upon preparation of the offer to purchase
Explanation
Disclosure is required before providing any specific real estate help to ensure informed consent. A and B are too early if no assistance occurs; D is too late.
3. A salesperson has just obtained the seller’s signature on an offer to purchase. When MUST the buyer receive a copy
A. Within 24 hours of the offer’s acceptance
B. Within 1 business day of the offer’s acceptance
C. At the closing
D. Promptly Correct
Explanation
Prompt delivery ensures the buyer is immediately notified of acceptance. No specific hour or day limit like A or B; C delays too long.
4. A real estate agent has received threats for selling a home to a minority couple. The agent might seek protection or redress under the
A. Virginia Fair Housing Law Correct
B. Virginia Transaction Recovery Act
C. Virginia Administrative Act
D. Compliance Codes of the county
Explanation
Fair housing laws protect against discrimination and intimidation based on race. B covers financial misconduct; C and D are not relevant to threats.
5. A broker is working with a buyer who wishes to know if there will be any more buildings built in a condominium development he is interested in. Which of the following is the MOST reliable source of information to answer this question
A. Seller
B. Homeowner’s Association
C. Local building codes
D. The condominium public offering statement Correct
Explanation
Public offering statement details all planned development. A may lack full info; B manages current units; C regulates but doesn't specify plans.