Virginia Real Estate License Exam Questions and Answers 100% Accurate
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Course
Virginia Real Estate
Institution
Virginia Real Estate
A nonresident who obtains a license as an active salesperson in VA is required to do which of the following? - ANSWER-4. Activate with a VA licensed broker.
The purpose of the VA real estate license law and Board related rules and regulations is to... - ANSWER-Protect the public interest
Two ...
Virginia Real Estate License Exam 2023-
2024 Questions and Answers 100%
Accurate
A nonresident who obtains a license as an active salesperson in VA is required to do
which of the following? - ANSWER-4. Activate with a VA licensed broker.
The purpose of the VA real estate license law and Board related rules and regulations is
to... - ANSWER-Protect the public interest
Two brokers are involved in a dispute over a commission split. Which of the following
could become involved in the settlement dispute? - ANSWER-A court having jurisdiction
over the brokers.
If the Board receives a written complaint regarding the actions of a regulant, what is the
first thing the Board will do? - ANSWER-Review the complaint for possible violation
Which of the following is true regarding a branch office of a VA real estate firm? -
ANSWER-The office must have a separate license.
An unlicensed investor plans to open a real estate brokerage business. The business
will be operated as a sole proprietorship. Which of the following is true? - ANSWER-The
investor must hire a broker to manage the business.
The objective of the Virginia Fair Housing Law is to... - ANSWER-Protect and ensure
the welfare of the general public
When a salesperson terminates affiliation with a broker, what is the salesperson
required to do? - ANSWER-Nothing
A licensee who is actively engaged in real estate brokerage works at least.. - ANSWER-
40 hours per week
When a real estate license has expired how long does the licensee have to reinstate the
license, without monetary penalty? - ANSWER-30 days
If a broker opens a branch office in VA, which of the following is true? - ANSWER-Upon
proper application, the Board will issue a license for the Branch.
, Which of the following persons may not obtain a real estate license in VA? - ANSWER-
A 17 year old college graduate who majored in real estate.
To become licensed in VA it is necessary to take and pass an examination. Which of
the following could become licensed and not be required to take an examination? -
ANSWER-Any person currently licensed in another jurisdiction and meets all
requirements for reciprocity
The statute of VA mandates the number of people on the Real Estate Board. Currently
the Board consists of... - ANSWER-9 members; 7 licensees and 2 citizens
A licensed salesperson can be licensed with more than one VA broker under what
circumstances? - ANSWER-Under no circumstances
Persons appointed to the Real Estate Board, serve for.. - ANSWER-Four years and
may serve for one additional four year term
Virginia real estate offices are required, by regulations, to... - ANSWER-Keep records
for a period of three years
General requirements for licensure as either salesperson or broker include which of the
following? - ANSWER-An applicant must at least be 18 years of age
A licensee was out of town on personal business. When she returned on July 5 she
realized that her license had expired on May 31. What is required if the licensee wants
to remain licensed? - ANSWER-Apply for reinstatement and pay a reinstatement fee
Jerald has been a licensed broker in VA since 1980. Which of the following is incorrect?
- ANSWER-He is exempt from CE requirements by virtue of the "grandfather" clause
associated with that regulation
The requirement that funds be held in an escrow account does not apply to.. -
ANSWER-A commission received from an out-of-state broker
Sally decides to transfer from ABC Realty to XYZ Realty. What must Sally do to affect
the transfer of her license? - ANSWER-Submit to the Board a transfer application,
certified by XYZ Realty
The broker must return to the Board the license of any active licensee in all of the
following situations except - ANSWER-A licensee refuses to hold an open house
When the Board issues an active license, the license... - ANSWER-Must be made
available to the public at the broker's main place of business
Once a listing agreement is obtained from a seller and is accepted by the broker, an
agency relationship is created between... - ANSWER-The seller and the broker
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