Principles, Property, and Land Use Practice Question

Question

A supervising broker is reviewing a transaction file for the Virginia Real Estate Salesperson Exam involving sales comparison approach and Virginia Real Estate Board. Which statement is the best answer? (Item 16)

Answer choices

1. A. The rule applies only to commercial transactions and never to residential transactions.
2. B. Client funds may be mixed with business funds if the broker reconciles the account later.
3. C. The issue can be ignored if the parties want to close quickly.
4. D. Use comparable sales adjustments for residential valuation in a way that fits Virginia exam practice.

Correct Answer

D. Use comparable sales adjustments for residential valuation in a way that fits Virginia exam practice.

Explanation

The correct answer is D because sales comparison approach requires candidates to use comparable sales adjustments for residential valuation. 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: hard
• Domain: Principles, Property, and Land Use
• Objective: sales comparison approach

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