Fair Housing, Practice, and Disclosures Practice Question
Question
A closing coordinator flags an issue before settlement for the Virginia Real Estate Salesperson Exam involving lead-based paint and agency disclosure and brokerage relationship duties. Which statement is most accurate for exam purposes? (Item 169)
Answer choices
- A. Apply federal disclosure concepts for pre-1978 residential housing in a way that fits Virginia exam practice.
- B. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- C. The requirement matters only when the buyer obtains institutional financing.
- D. The affiliated licensee may handle the matter independently without broker responsibility.
Correct Answer
A. Apply federal disclosure concepts for pre-1978 residential housing in a way that fits Virginia exam practice.
Explanation
The correct answer is A because lead-based paint requires candidates to apply federal disclosure concepts for pre-1978 residential housing. The Virginia reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: easy
- Domain: Fair Housing, Practice, and Disclosures
- Objective: lead-based paint