Which regulation defines the duties and responsibilities of real estate professionals? -
answer✔✔Code of Virginia Title 54.1 Chapter 21
What is defined in VAC Title 18, Agency 135, Chapter 20? - answer✔✔The Virginia Real
Estate Board's licensing regulations
What is the VREB authorized to do? - answer✔✔et requirements and standards of conduct for
real estate licensees as well as enforce Virginia's real estate laws
How do you become a member of the Virginia Real Estate Board? - answer✔✔Get appointed by
the governor
Broker - answer✔✔holds a license and is any person, partnership, association, or corporation
who, for another, and for compensation of any kind, negotiates any form of real estate
transaction
Amanda helps her neighbor sell his home by assisting with negotiations. She receives no
compensation for her assistance. Based on this one transaction, Amanda ______. -
answer✔✔Doesn't need a real estate license
Sarah and Jim both have their broker's licenses and want to start a business together. What do
they need in order to get started? - answer✔✔A separate firm license
Which of the following can hold a broker's license? - answer✔✔A person or an entity
Tom is an unlicensed individual helping his sister, Katie, find a new house, in return for a trip to
Europe. Which of the following activities can Tom legally perform? - answer✔✔He can search
real estate sites and resources to find available homes in the area.
Jerry has completed 170 hours of online education and he has two years' experience as a real
estate salesperson. He's wondering about the possibility of getting another license. What should
you tell him? - answer✔✔"You could apply to be a broker after one more year of experience and
10 more education hours."
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