Virginia Real Estate National Exam 2023-
2024 Questions and Answers 100%
Correct
(virginia time share act) For an initial purchaser, there is a _________day right of
rescission. Meanwhile, a buyer has a 5-day right of rescission in a time share resale. -
ANSWER-7
If VA license applicant has had a license suspended or revoked in any jurisdiction
because of association with disciplinary action - ANSWER-A very detailed explanation
of the event/circumstances must be included with his license application
If there was a prior misdemeanor involving moral turpitude, sexual offense, drug
distribution, physical injury or any felony, the license applicant must submit: - ANSWER-
An FBI record, State Police Criminal Record, Relevant certified copies of all court
records, a written explanation of his part in the offense, including the current status and
final resolution of the offense.
A licensee must present all written offers and counteroffers _____________, even after
the property has been placed under contract - ANSWER-In a timely manner
In order to receive a VA license, VA non-residents who are not licensed in another
jurisdiction must meet the same requirements as the residents of VA. They must also. -
ANSWER-File an irrevocable consent to suits and services, agree to allow the director
of the DPOR to accept service of any legal process on the licensee's behalf.
It was determined that noncompliance of Pam, the broker, was intentional & the result of
gross negligence. Does she still have 30 days after discovery? - ANSWER-No, the 30
day provisions do not apply if the noncompliance by the broker was intentional or a
result of gross negligence.
Jane, Bill, and Melvin are in the industry advisory group that focuses on what tracks at
no cost to the Board? - ANSWER-1. Residential real estate 2. Commercial real estate 3.
property management
Landlord-tenant relations in public housing, Housing choice vouchers or Section 8
housing and other federally subsidized housing are regulated by - ANSWER-HUD
It is the responsibility of the __________ to renew her license, - ANSWER-Licensee
,The applicants who do not follow all board rules and rules of the testing service in taking
the examination - ANSWER-may have their applications denied!
If the license remains expired after 12 months, the license ___________________ -
ANSWER-MAY NOT be reinstated, for any reason.
Hotels boarding houses are covered by the Virginia Residential Landlord and Tenant
Act if the tenant lives in such residence for 30 days - ANSWER-More than 30 days
After 12 months of passing the Principle in Real Estate class the applicant: - ANSWER-
must retake and pass the exam again in order to then apply for his license.
The Virginia Real Estate Board has _____ members, including seven members who
have been licensed real estate brokers or salespersons for at least five consecutive
years before their appointment, and two citizen members. - ANSWER-9
There is ______________automatic renewal of real estate licenses. - ANSWER-No
_______________ must take the continuing education before they renew the licenses. -
ANSWER-ONLY ACTIVE licensees
Pam receives a notice her brokerage is being audited. It this allowed? - ANSWER-The
board shall promulgate regulations to allow the audit of the practices, policies and
procedures of a real estate broker licensed by the Board, either through a third party
retained by the real estate broker or through a self audit.
All active and inactive licensees must, by law, ____________________________ to
renew their licenses. - ANSWER-Pay their fees to the Department
A sole proprietor brokerage or _________principal broker owner brokerage business
can either be in the name of the broker owner or can be under a fictitious name. -
ANSWER-Principal Broker
any person or business entity including a partnership, association, corporation or limited
liability company, who for compensation sells or offers for sale, buys or offers to buy, or
negotiates the purchase or sale or exchange of real estate. - ANSWER-Real estate
broker
_________________ is any person, or business entity of not more than two persons
who for compensation is employed either directly or as an independent contractor with a
real estate broker. - ANSWER-Real Estate Salesperson As defined by Virginia law,
The landlord may in accordance with a written agreement in any form, delegate to a
managing agent or other 3rd party the responsibility of providing any
_________________. - ANSWER-Written Notice
, The ___________________ must become a new applicant, taking the necessary
educational requirements and examinations. - ANSWER-Former Licensee
Fred just passed the Virginia RE license exam and is real busy. What will happen to
Fred's license if he does NOT complete the 30-hour curriculum within one year? -
ANSWER-His license will be placed on inactive status by the Board until the curriculum
has been completed
How long does Pam have to completion the voluntary compliance? - ANSWER-90 Days
from the date that the plan was submitted to the Board
If a landlord receives prepaid rent, it shall be placed in an escrow account in a federally
insured depository in Virginia by: - ANSWER-The end of the 5th business day following
the receipt and shall remain in the account until such time as the prepaid rent becomes
due.
If a tenant requests the application of the insecticide or pesticide. - ANSWER-The 48-
hour notice is NOT required
if he/she passed the exam, he/she has 12 months to apply for a license. If this period of
times passes without his/her application for license, he/she must - ANSWER-Retake
and pass the exam again in order to then apply for his/her license.
If the applicant fails to rent the unit for which application was made, from the application
deposit the landlord shall refund to the applicant - ANSWER-within 20 days after the
applicant's failure to rent the unit or the landlord's rejection of the application all sums in
excess of the landlord's actual expenses and damages together with an itemized list of
said expenses and damages.
If the application fee or deposit was made by cash, certified check, cashier's check, or
postal money order, such refund shall be made within - ANSWER-10 days of the
applicant's failure to rent the unit if the failure to due the landlord's rejection of the
application.
If the owner owns more than four single-family residences or condominium units located
within a city or any county - ANSWER-having either the urban county executive form
(Fairfax) or county manager plan of government (Arlington), the VRLTA applies.
The landlord is not required to provide notice to the tenant. - ANSWER-If the tenant
makes a request for maintenance,
Carol is a tenant in an apartment building that becomes a foreclosure sale terminating
her tenancy. What happens to Carol's deposit? - ANSWER-Carol's deposit must be
returned to her with any accrued interest that is owed.
Brokerage relationships began when the licensee is engage by the - ANSWER-Client
