Virginia Real Estate Exam UPDATED Exam Questions and CORRECT Answers
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Course
Virginia Real Estate
Institution
Virginia Real Estate
Virginia Real Estate Exam UPDATED
Exam Questions and CORRECT Answers
If, after passing the licensing exam, more than twelve months passes before applying for a
license, the applicant must then _______________ before he can apply for a license. -
CORRECT ANSWER- Re-take and pass the exam again...
Virginia Real Estate Exam UPDATED
Exam Questions and CORRECT Answers
If, after passing the licensing exam, more than twelve months passes before applying for a
license, the applicant must then _______________ before he can apply for a license. -
CORRECT ANSWER- Re-take and pass the exam again.
Under the Virginia Residential Landlord and Tenant Act, the security deposit, any accrued
interest and any deductions, damages, and charges shall be itemized by the landlord in a
written notice given to the tenant together with any amount due the tenant within ____ days
after termination of the tenancy and delivery of possession. - CORRECT ANSWER- 45 days.
The landlord has 45 days to give a written notice of any deductions to the tenant's deposit
(and any amount due) after termination of the tenancy and delivery of possession.
________ is money placed into a trust by a third party to be turned over to a grantee upon
fulfillment of a contract. - CORRECT ANSWER- Escrow.
Escrow is to be placed inside of an account by a third party to be turned back to the grantee
upon fulfillment of contract.
An auctioneer selling real estate at a public auction for the owner does not need to have a real
estate license, if the auction is open only ___ hours. - CORRECT ANSWER- 48 hours.
The final inspection of a rental property is required by Virginia law to be held within ___
hours of the tenant vacating the property. - CORRECT ANSWER- 72 hours (or three days).
The landlord has up to three days to conduct a final inspection of a rental property upon the
tenant leaving the property.
Someone involved in real estate brokerage dealings in Virginia: - CORRECT ANSWER-
Must have a license issued by the Virginia board, whether or not this person is licensed
elsewhere.
,It does not matter if they are licensed anywhere else.
In what case is there an automatic renewal of a real estate license? - CORRECT ANSWER-
Never.
It is the responsibility of the broker/salesperson to renew their licenses at the appropriate
time.
According to Virginia law, the fee for examination or reexamination is subject to contracted
charges to the board by an outside vendor, but the fee shall NOT exceed ____ per candidate. -
CORRECT ANSWER- $90.
The fee for a real estate examination in Virginia is *not* to exceed $90.
To whom must disclosures be made: - CORRECT ANSWER- Buyers, sellers, tenants, and
landlords.
All parties are due certain disclosures.
Virginia non-residents who are not licensed in another jurisdiction must meet the same
requirements as the residents of Virginia, and must also: - CORRECT ANSWER- File an
irrevocable consent to suits and services, as well as agree to allow the Director of DPOR to
accept legal service of any legal process on the licensee's behalf.
Tenants have the right to install security devices, provided that: - CORRECT ANSWER- It's
at their own expense, that they restore the property to it's original condition before vacating,
and that the landlord is given operating instructions and keys for any and all equipment
installed.
The Virginia Real Estate Board does not: - CORRECT ANSWER- Handle disputes between
salespeople and brokers or standardize listing sales contracts or agreements.
Which of the following is the Virginia Real Estate Board authorized to do? - CORRECT
ANSWER- The board sets standards for licensure and conduct, administers and enforces
license laws, as well as issues and renews real estate licenses.
, ______ is one in which the broker or salesperson is not affiliated with a supervising broker,
firm, or sole proprietorship. - CORRECT ANSWER- An inactive license.
In what case can a real estate license be reinstated after 12 months? - CORRECT ANSWER-
Never.
The person must take and pass the real estate examination again and apply for a new license.
If a Virginia license applicant has a prior misdemeanor involving moral turpitude, sexual
offense, drug distribution, physical injury or any felony, the license applicant must submit: -
CORRECT ANSWER- Official FBI records and state police criminal records, a written
explanation, as well as certified copies of all court records.
All active and inactive licensees must pay their fees to ____ to renew their licenses. -
CORRECT ANSWER- The Department (DPOR).
Fees are paid to the Department of Professional and Occupational Regulation to renew their
licenses, NOT the VREB.
Those applicants who do not follow all board rules, or rules of the testing service in taking
the examination, may: - CORRECT ANSWER- Have their application denied.
They will NOT be subject to a fine or arrest.
The __________ license is one under which salespeople and associate brokers do not
establish a brokerage firm, but wish to have the liability protection and tax benefits of a
corporation or LLC. - CORRECT ANSWER- Business entity salesperson.
This is meant for *individuals* rather than a business entity, which will have their own
license called the Business Entity License.
As defined by Virginia law, ______ is any person, or business entity of not more than two
persons unless related by blood or marriage, who for compensation or valuable consideration
is employed either directly or indirectly by, or affiliated as an independent contractor with, a
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