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Virginia Real Estate License Exam | Verified Q&A’s| Latest Update
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Virginia Real Estate License Exam | Verified Q&A’s| Latest Update
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Virginia Real Estate License Exam | VerifiedQ&A’s| Latest Update
Virginia real estate offices are required, by regulations, to... - ✔✔Keep records
for a period of three years
General requirements for licensure as either salesperson or broker include which
of the following? - ✔✔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? - ✔✔Apply for reinstatement and pay a
reinstatement fee
Jerald has been a licensed broker in VA since 1980. Which of the following is
incorrect? - ✔✔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.. -
✔✔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? - ✔✔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 - ✔✔A licensee refuses to hold an open house
, When the Board issues an active license, the license... - ✔✔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... - ✔✔The seller and the broker
A licensed real estate salesperson may receive money or other valuable
consideration for services rendered in connection with property management
from... - ✔✔His or her employing broker
When a broker places a "For Sale" sign on property, what must appear on the
sign? - ✔✔The firms license name
The minimum balance of the Virginia Real Estate Transaction Recovery Fund is... -
✔✔$400,000
When are real estate licenses renewed? - ✔✔Every 2 years on the last day of
the month in which they were issued
Ed, a licensed salesperson, moved to a new home. What is Ed required to do? -
✔✔Advise the Board in writing within 30 calendar days of the change
A licensee contacts a homeowner in an attempt to obtain a listing for the
property. When must agency disclosure be provided to the homeowner? -
✔✔At the time the owner agrees to list the property
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