Principles, Property, and Land Use Practice Question

Question

A seller is preparing to list a home for the Virginia Real Estate Salesperson Exam involving market value and agency disclosure and brokerage relationship duties. Which response best applies the rule? (Item 35)

Answer choices

1. A. The party who complains first automatically receives the remedy requested.
2. B. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
3. C. Identify the probable price under normal market conditions in a way that fits Virginia exam practice.
4. D. The client’s preference eliminates the need to disclose known material facts.

Correct Answer

C. Identify the probable price under normal market conditions in a way that fits Virginia exam practice.

Explanation

The correct answer is C because market value requires candidates to identify the probable price under normal market conditions. 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: medium
• Domain: Principles, Property, and Land Use
• Objective: market value

Practice more

Start Principles, Property, and Land Use practice

Back to Principles, Property, and Land Use