Virginia Real Estate Exam Prep, VA Questions And Answers Rated A+.
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Course
Virginia Real Estate
Institution
Virginia Real Estate
VREB Stands For - - Virginia Real Estate Board
Title 54.1, Chapter 21 of the Code of Virginia Defines - - the composition and authority of the Virginia Real Estate Board; Also sets for the requirements for licensure, defines the duties a licensee must perform, how those duties must be performed ...
Virginia Real Estate Exam Prep, VA Questions
And Answers Rated A+.
VREB Stands For - ✔✔✔- Virginia Real Estate Board
Title 54.1, Chapter 21 of the Code of Virginia Defines - ✔✔✔- the composition and authority of
the Virginia Real Estate Board; Also sets for the requirements for licensure, defines the duties a
licensee must perform, how those duties must be performed and what happens when if the
licensee breaches those duties
How many meetings does the VREB hold a year? - ✔✔✔- 8 meetings per year
Members of the VREB serve a term of what length? - ✔✔✔- 4 Years
Can members of the VREB be appointed an additional term? If so, how long? - ✔✔✔- Yes, they
may be appointed to an additional 4 year term
How many members are there in the VREB and who appoints these members? - ✔✔✔- There
are 9 members appointed by the Governor
There are ________ members who are licensed real estate professionals and ________ members
who are non-licensed citizens. - ✔✔✔- 7 & 2
How many years of experience must licensed real estate professionals have in order to be
appointed to the VREB? - ✔✔✔- 5 years of practicing experience
The Virginia Administrative Code, Title 18, Agency 125 describes... - ✔✔✔- how the VREB must
carry out its duties
VIRGINIA REAL ESTATE Page 1
,VIRGINIA REAL ESTATE
The VREB is responsible for... - ✔✔✔- -Licensing of real estate professionals and brokers.
-Setting standards of licensure and professional conduct
-Administration of the Virginia Real Estate Recovery Fund
-Enforcement of the Real Estate Settlement's Agent Act
-Regulation and Enforcement of Virginia's Fair Housing Laws
-Development of residential property disclosure statement for use according to existing laws
How is the VREB Chairperson Elected? - ✔✔✔- Members elect their own chairperson
A salesperson or associate broker may perform as a real estate broker only when... - ✔✔✔-
associated with a supervising broker
A broker may work independently, but a salesperson or associate broker must - ✔✔✔- work
supervised by a broker
A broker is responsible for - ✔✔✔- the supervision of salespersons and associate brokers who
work for the broker,
maintaining a place of business,
displaying the licensed name of the brokerage which must include the words Real Estate, Realty
or the name of a recognized organization of real estate professionals, and notifying the VERB of
any changes to the address or name of the brokerage within 30 days of the change
An associate broker is - ✔✔✔- a licensed broker who may perform the acts of a broker but
chooses to work under a supervising broker
VIRGINIA REAL ESTATE Page 2
, VIRGINIA REAL ESTATE
A broker may be a person or... - ✔✔✔- an entity, such as a corporation
Broker license applicants must have had their salesperson's license and been active in real estate
for at least... - ✔✔✔- 3 to 4 years
Broker applicants must complete a _______ hour licensing course and pass the broker exam -
✔✔✔- 180
Salesperson applicants must have completed a ______ hour pre-licensing course and pass the
licensing exam - ✔✔✔- 60
Real estate salespersons must be at least _____ years old - ✔✔✔- 18
For a real estate salesperson to apply for licensing by reciprocation in the state of Virginia they
must have been active in real estate for ______ of the last _____ months. - ✔✔✔- 36 of the last
48 months
Could having a license in another state allow you to skip retaking courses for the national
portion of the real estate licensing exam? - ✔✔✔- Yes, however you would still have to have
taken courses similar to the state's that you plan to apply with
Can brokers practice under a name different than what they have been licensed as? - ✔✔✔-
No, brokers may only practice real estate under the same name as they are licensed
Brokers are required to have their own firm license in addition to their broker's license, except....
- ✔✔✔- if they are a sole proprieter
VIRGINIA REAL ESTATE Page 3
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