Virginia real estate ti Study guides, Class notes & Summaries

Firm - ANSWER-any sole proprieteorship, partnership, assoc, LLC, or Corp that is required to have a separate brokerage firm license. "ABC Realty" must have a firm license, and a licensed principle broker DPOR - ANSWER-Board of Professional and Occupational Regulation. Consists of 9 members, appointed by governor to 4 yr terms. REB (real estate board) is part of DPOR. CIC Board - ANSWER-Common Interest Community Board, within the DPOR; separate from the REB. Creates licensure to govern co...

Broker Zeke is busy and doesn't have time to go to the bank, so he deposits his client's earnest money funds into his personal account. He plans to move the funds to the appropriate account within a week. This violation is an example of ______. a. Commingling b. Contractural Interference c. Failure to disclose an agency relationship d. Performing services that would qualify as practice of law - a. Commingling Which regulation sets forth the Virginia Real Estate Board's licensing reg...